PROPOSED ACQUISITION OF TANZANITE TOWER PRIVATE LIMITED ("TTPL")
(Unless otherwise stated, the exchange rate of United States Dollar (“USD”) 1.00: Ringgit Malaysia (“RM”)4.2855 being the middle rate prevailing as at 12.00 noon on 3 August 2017 as published by Bank Negara Malaysia, has been applied in this announcement for illustration purposes)
We refer to our announcement on the above dated 20 June 2017. Unless stated otherwise, the definitions used herein shall have the same meanings as set out in the said announcement.
We are pleased to announce that edotco PK has today (“Completion Date”) respectively completed the subscription and the acquisition of the Subscription Shares and Sale Shares following the fulfillment or as the case may be, waiver of the conditions precedent of the SPA.
The Proposed Acquisition of TTPL was transacted at a purchase consideration of USD88.9 million (equivalent to RM381.0 million) after adjustments provided under the terms of the SPA.
In accordance with the terms of the SPA, TTPL had on the Completion Date entered into a Share Pledge Agreement (“PA”) with HB Offshore Investments Limited (“HBOIL”), the owner of wi-tribe Pakistan Limited (“wi-tribe”), provider of wireless broadband services in Islamabad, Rawalpindi, Lahore, Karachi, and Faisalabad. Under the PA, TTPL shall be the beneficiary (by way of security) for all the wi-tribe shares held by HBOIL, being the only issued capital of wi-tribe, as security for wi-tribe’s indebtedness and obligations to TTPL under the Amended and Restated Tower Space Master License Agreement dated 28 June 2016 (as amended) for a limited period of time between TS PK and wi-tribe.
This announcement is dated 3 August 2017.
|Company Name||AXIATA GROUP BERHAD|
|Date Announced||03 Aug 2017|
|Category||General Announcement for PLC|