Announcement Details/Table Section :
We refer to the announcements made by Maybank Investment Bank Berhad ("Maybank IB"), on behalf of the Board of Directors of SGB ("Board"), on 29 February 2012 and 29 June 2012 respectively on the heads of agreement entered into between SGB and Scomi Marine Bhd ("SMB"), an associate company of SGB, on 29 February 2012 in relation to, inter-alia, the Proposed SOL Disposal.
Further to the abovementioned announcements, the Board had on 24 July 2012 announced that the Company proposed to undertake the Proposed SOL Reorganisationand, upon the completion of the Proposed SOL Disposal, to undertake the Proposed SOBL Western Acquisition. Further reference is made to the announcements dated 8 August 2012, 4 October 2012, 12 October 2012, 5 November 2012, 12 November 2012, 27 November 2012, 13 December 2012, 17 December 2012, 21 December 2012, 26 December 2012 and 31 December 2012.
All the terms and definitions referred to in this announcement, unless otherwise defined, shall carry the same meaning as those in the abovementioned announcements.
The Board wishes to announce that (i) SGB, (ii) SOL, (iii) SCPE, (iv) FII and (v) SOBL ("Parties") have on 4 January 2013 entered into a second letter of agreement ("2nd Letter of Agreement") relating to the (i) Proposed SOBL Disposal in particular the terms of the Letter of Agreement; (ii) Proposed SOSB Disposal; (iii) Proposed SOOL Disposal; (iv) Proposed SOES Disposal; (v) Proposed Vibratherm Disposal; and (vi) Proposed SOBL Western Acquisition. Pursuant to the 2nd Letter of Agreement, the Parties agreed that the long stop date of 31 December 2012 for the satisfaction of the conditions precedent and the conditions subsequent (as the case may be) in the abovementioned disposals be extended to 31 March 2013.
This announcement is dated 4January 2013.
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