CORPORATE ANNOUNCEMENTS

General Announcement for PLC

Reference No: GA1-02072018-00103
 
Company Name : ECM LIBRA FINANCIAL GROUP BERHAD
Stock Name : ECM
Date Announced : 02/07/2018
Type : Announcement
Subject : MULTIPLE PROPOSALS
Description :

ECM LIBRA FINANCIAL GROUP BERHAD ("ECMLFG")

THE PROPOSED TUNE HOTELS ACQUISITIONS

Announcement Details/Table Section :

Reference is made to ECMLFG's announcements on 4 May 2017, 21 June 2017, 3 July 2017, 8 August 2017, 30 August 2017, 26 October 2017, 21 November 2017, 24 November 2017, 27 November 2017, 12 December 2017, 21 December 2017, 21 March 2018, 13 April 2018, 3 May 2018, 4 May 2018, 8 May 2018, 16 May 2018 and 18 May 2018 in relation to the Proposals ("Announcements"). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

On behalf of the Board, CIMB is pleased to announce that as of the date of this announcement, all conditions precedent of the Tune Hotel Penang SPA have been fulfilled and hence the Tune Hotel Penang SPA has become unconditional.

In addition to the above, CIMB wishes to also announce that on 2 July 2018, the parties to the Tune Hotel KK SPA and the Tune Hotel KLIA Aeropolis SPA entered into variation letters to extend the date to fulfil the respective agreements' conditions precedent by 60 days from 4 July 2018 (inclusive), or such longer period as the parties may mutually agree in writing.

The abovementioned extension is to provide additional time to fulfil several conditions precedent of the Tune Hotel KK SPA and the Tune Hotel KLIA Aeropolis SPA which are still not met as at the date of this announcement. The details of the conditions precedent are set out in the circular to ECMLFG shareholders dated 27 November 2017.

 

This announcement is dated 2 July 2018.

 

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