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PROPOSED ACQUISITION OF 100% EQUITY INTEREST IN TOPPER MEDIA SDN. BHD. FOR A TOTAL CASH CONSIDERATION OF RM5,000,000.00 BY SENI JAYA OOH SDN. BHD., AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF THE COMPANY.


Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-17062021-00001
Subject PROPOSED ACQUISITION OF 100% EQUITY INTEREST IN TOPPER MEDIA SDN. BHD. FOR A TOTAL CASH CONSIDERATION OF RM5,000,000.00 BY SENI JAYA OOH SDN. BHD., AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF THE COMPANY.
Description 
SENI JAYA CORPORATION BERHAD ("SJC" OR "COMPANY") 
- REPLY TO QUERY FROM BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") DATED 17 JUNE 2021
Query Letter Contents

We refer to your Company?s announcement dated 16 June 2021, in respect of the aforesaid matter.


In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1) To provide further information on the basis of determining the Purchase Price, i.e. to elaborate on the projected discount cash flow based on the forecast from Partnership and its potential growth.

2) To provide more details on the Partnership, including but not limited to the tenure of the agreement and the commencement and cessation date of the Partnership.
3) To define the role of TMSB as the "preferred partner for sales and marketing".
4) To provide justification for the Company to pay RM2.5 million (equivalent to 50% of the Purchase Price) as first payment.
5) For the salient terms of the SPA, to also provide the events of default.

6) To elaborate further on the rationale of the Proposed Acquisition and how the Proposed Acquisition would align with the Company's expansion plan.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully,


Listing

Regulation

Cc : Market Surveillance Dept. , Securities Commission (via fax)

 
We refer to the announcement dated 16 June 2021 and the letter dated 17 June 2201 from Bursa Securities requesting for additional information pertaining to the Proposed Acquisition of TMSB by SJOOH.

Please refer to the attachment for further details of the Company's reply.

This announcement is dated 18 June 2021.


Announcement Info

Company Name SENI JAYA CORPORATION BERHAD
Stock Name SJC
Date Announced 18 Jun 2021
Category General Announcement for PLC
Reference Number GA1-17062021-00045


Attachments