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15 Nov 2013 14:50
15 November 2013
Resource Holding Management Limited
('RHM' or the 'Company')
Update re disposal
The Board of RHM is pleased to provide an update on the proposed disposal by RHM of the entire issued share capital of Red Media Asia Ltd ("RMA") to PUC Founder (MSC) Berhad ("PUCF") (together the "Disposal"). RHM received approval on 14 November 2013 from the Securities Commission of Malaysia for the Proposed Exemption in relation to the requirement for RHM to undertake a mandatory offer for the remaining PUCF shares not already owned under the rules of the Malaysian Code on Take-Overs and Mergers for the purposes of the Disposal. Following the approval of the Proposed Exemption, all approvals from the relevant regulatory authorities have been obtained.
It remains the expectation of the Board of RHM that completion of the Disposal will take place in early January 2014.
Where applicable the same definitions apply throughout this announcement as are applied in the Circular and the announcement released by the Company on 18 October 2013.
For further information please contact:
Resource Holding Management Limited |
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Cheong Chia Chieh | Tel: +601 2329 5522 |
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Allenby Capital Limited (Nominated Adviser and Broker) | Tel: +44 (0)203 328 5656 |
Nick Athanas / James Reeve |
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Leander PR (Financial PR) | Tel: +44 (0)7795 168 157 |
Christian Taylor-Wilkinson |
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