Date : 09 May 2025

MULTIPLE PROPOSALS BINASAT COMMUNICATIONS BERHAD ("BINASAT" OR "COMPANY") I. PROPOSED ACQUISITIONS AND LEASES OF SBP PROPERTIES; II. PROPOSED ACQUISITIONS OF EMPIRE CITY PROPERTIES; III. PROPOSED DIVERSIFICATIONS; AND IV. PROPOSED PRIVATE PLACEMENT (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

BINASAT COMMUNICATIONS BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description 
BINASAT COMMUNICATIONS BERHAD ("BINASAT" OR "COMPANY") 

I.	PROPOSED ACQUISITIONS AND LEASES OF SBP PROPERTIES;
II.	PROPOSED ACQUISITIONS OF EMPIRE CITY PROPERTIES;
III.	PROPOSED DIVERSIFICATIONS; AND
IV.	PROPOSED PRIVATE PLACEMENT

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
 
We refer to the announcements dated 4 December 2024, 23 January 2025, 14 March 2025, 4 April 2025, 7 April 2025, 23 April 2025 and 25 April 2025 in relation to the Proposals (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

Pursuant to the Empire City SPA, the following payments in respect of the Proposed Acquisitions of Empire City Properties shall be made by BPSB to CASB within 14 working days from 24 April 2025 (being the Unconditional Date), where the last day shall be 16 May 2025:

  • payment via cash of RM33,826,100 (“Cash Payment”); and
  • allotment and issuance of 49,023,333 Consideration Shares (“Share Payment”).
On behalf of the Board, TA Securities wishes to announce that BPSB and CASB have mutually agreed to extend the settlement period for the Cash Payment by 3 months from 16 May 2025 until 16 August 2025.

The settlement period for the Share Payment shall remain the same i.e., by 16 May 2025.

This announcement is dated 9 May 2025.



Announcement Info

Company Name BINASAT COMMUNICATIONS BERHAD
Stock Name BINACOM
Date Announced 09 May 2025
Category General Announcement for PLC
Reference Number GA1-09052025-00027


Back