General Announcement

Reference No MI-140425-58763

Company Name

:

IRE-TEX CORPORATION BERHAD

Stock Name

:

IRETEX

Date Announced

:

25/04/2014

 
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): RELATED PARTY TRANSACTIONS IRE-TEX CORPORATION BERHAD (ITCB) PROPOSED ACQUISITIONS

IRE-TEX CORPORATION BERHAD

Type

:

Announcement

Subject

:

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS

Description

:

IRE-TEX CORPORATION BERHAD (ITCB)

PROPOSED ACQUISITIONS

Announcement Details/Table Section:

For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in ITCBs announcement dated 18 November 2013 in relation to, amongst others, the Proposed Acquisitions (First Announcement).

We refer to ITCBs announcement dated 24 April 2014 in relation to the Proposed Acquisitions wherein it was stated that pursuant to the second supplemental SPA 2 dated 23 April 2014 (Second Supplemental SPA 2), ITCB shall waive the condition precedent stated in Clause 3.1.2 of the SPA 2 (i.e. Section 2.3(ii), Appendix I of the First Announcement requiring the grant of approval by the financial institutions to ZASB and ZTSB or any party which ZASB and ZTSB covenanted not to effect a change of shareholdings without its prior consent, to the sale by the Vendors and the purchase by ITCB of the Sale Shares in accordance with the SPA 2) as the Vendors have paid the Redemption Amount (as defined in ITCBs announcement dated 24 April 2014 in relation to the Proposed Acquisitions) on ZTSBs behalf to Standard Chartered Bank Malaysia Berhad (Payment of Redemption Amount).

KAF, on behalf of ITCB, wishes to clarify that the Payment of Redemption Amount will not have any effects on the purchase consideration of the Proposed Acquisitions. Therefore, the Second Supplemental SPA 2 will not give rise to any material amendment, modification or variation to the Proposed Acquisitions under Paragraph 8.22 of the Main Market Listing Requirements of Bursa Securities, hence the approval of the shareholders of ITCB is not required.

This announcement is dated 25 April 2014.