Others
| Type | Announcement |
| Subject | OTHERS |
| Description | SALCON BERHAD ("SALCON” OR THE “COMPANY”) (I) CONCESSION SUSPENSION AGREEMENT BETWEEN JIANGSU SALCON WATER & ENVIRONMETAL DEVELOPMENT COMPANY LIMITED (“JSWED”), A 66.67% OWNED SUBSIDIARY OF SALCON JIANGSU (HK) LIMITED, WHICH IN TURN IS A WHOLLY OWNED SUBSIDIARY OF SALCON, AND WATER BUREAU OF YIZHENG, JIANGSU PROVINCE, PEOPLE’S REPUBLIC OF CHINA (“WBYJP”) (II) TERMINATION OF ASSET ACQUISITION AGREEMENT BETWEEN WATER BUREAU OF YIZHENG CITY (“WBYC”), YIZHENG CITY & RURAL WATER COMPANY LIMITED (YCRW”) AND JSWED |
We refer to the following: i) announcement dated 14th December 2009 in respect of the Concession Agreement dated 12 December 2009 entered into between JSWED and WBYJP (“Concession Agreement”) for the implementation of the water transfer project in the central region of the Yizheng City on Build-Operate-Transfer basis for a period of 30 years (“Project”). ii) Asset Acquisition Agreement dated 1 December 2010 (“AAA”) entered into between YCRW and JSWED for the acquisition by JSWED of the pipelines and its ancillary facilities as stipulated in the AAA (“Assets”) from YCRW in connection with the Project. Pursuant to Paragraph 9.03 of Bursa Malaysia Securities Berhad’s Main Market Listing Requirements, the Board of Directors of Salcon wishes to announce that JSWED had on 6 May 2013 entered into the following agreements:- (i) Concession Suspension Agreement with WBYJP for the purpose of mutually suspending the Concession Agreement (“Concession Suspension Agreement”); and (ii) Asset Acquisition Termination Agreement with WBYC and YCRW for the purpose of mutually terminating the AAA (“Asset Acquisition Termination Agreement”). (“Suspension and Termination") Please refer to the attachment for further details on the Suspension and Termination. This announcement is dated 7 May 2013.
|
|
Announcement Info
| Company Name | SALCON BERHAD |
| Stock Name | SALCON |
| Date Announced | 7 May 2013 |
| Category | General Announcement |
| Reference No | CK-130507-58241 |
Attachments
- SALCON070513a.pdf (Size: 142,667 bytes)