News

(Unless otherwise stated, all abbreviations and definitions used herein shall have the same meaning as those used in the Company’s circular dated 10 July 2017 in relation to the Proposals)

Reference is made to the Company’s announcement dated 21 February 2018 in relation to an extension for a 12-months period from 22 February 2018 until 21 February 2019 to fulfill the conditions precedent set out in, among others, the Simunjan Agreement.

On behalf of the Board of RSB, Maybank IB wishes to announce that the Director of Forests had, vide a letter dated 6 July 2018 (which was received by the Company on 9 July 2018), accepted and approved the form and content of the deed of transfer to be executed between RSB and TMSB for the transfer of the Licence Rights (“Approval”) in place of a proposed deed of assignment, pursuant to the approval of the Minister on the application for absolute assignment of the Licence Rights from RSB to TMSB.

For information only, the endorsement of the Director of Forests of a revised tree planting plan for the Licence Rights had earlier been obtained by the Company. In this regard, together with the Approval obtained, the condition precedent under Clause 4.1(c) of the Simunjan Agreement is now fulfilled.

With the fulfillment of the aforementioned condition precedent, 2 other conditions precedent under Clauses 4.1(e) and (f) of the Simunjan Agreement remain to be fulfilled. 

This announcement is dated 10 July 2018.