ALR makes conditional provides for LItrak, SPRINT, Kesas and SMART


KUALA LUMPUR: The buying and selling of Lingkaran Trans Kota Holdings Bhd (LITRAK) and Gamuda Bhd securities has been suspended after the 2 corporations acquired conditional letters of provide from Amanat Lebuhraya Rakyat Bhd (ALR), with ALR providing to amass all of the securities of 4 freeway concession corporations – KESAS, SPRINT, LITRAK, and SMART.

“ALR conditionally provides to buy all of the securities of LITRAK based mostly on an enterprise worth of RM2.12 billion as at Dec 31, 2021 and ALR conditionally provides to buy all of the securities of SPRINT (Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd) based mostly on an analysis worth of RM1.81 billion,” LITRAK mentioned in a inventory change submitting.

SPRINT is a 50 per cent affiliate firm of LITRAK.

The corporate additional mentioned that the provides shall stay open for acceptance till 5 pm on April 30, 2022.

LITRAK had acquired approval from Bursa Malaysia Securities Bhd for the corporate’s request for suspension within the buying and selling of its securities on the Major Market of Bursa Malaysia Securities Berhad with impact from 9 am to five pm on Monday, April 4, 2022 pending the discharge of the fabric announcement.

In the meantime, Gamuda Bhd additionally introduced as we speak that it has acquired a conditional provide letter for Amanat Lebuhraya Rakyat Bhd (ALR) to amass all its securities in its expressway concession corporations.

It informed the inventory change that ALR has provided to amass its 70 per cent stake in KESAS Sdn Bhd; 51.6 per cent stake in SPRINT; 43.2 per cent stake in LITRAK; and 50 per cent stake in Projek Good Holdings Sdn Bhd (SMART).

The group mentioned its share of anticipated fairness worth for all of its expressway concession corporations amounted to RM2.33 billion.

“Every of the KESAS provide, SPRINT provide, LITRAK provide, and SMART provide has been given by ALR on a standalone foundation and is mutually unique from one another,” Gamuda mentioned.

The group mentioned ALR conditionally provides to buy all of the securities of KESAS based mostly on an enterprise worth of RM1.24 billion as of the valuation date of Dec 31, 2021; RM1.81 billion for SPRINT; RM2.12 billion for LITRAK; and RM313 million for SMART.

“The provides shall stay open for acceptance till 5 pm on April 30, 2022, after which the provides shall forthwith lapse and stop to have any pressure or impact except ALR agrees in writing to increase the interval throughout which the provides shall proceed to be legitimate ,” it added.

Gamuda mentioned Bursa Malaysia had permitted the suspension of buying and selling of its securities on the Major Market of Bursa Malaysia with impact from 9 am to five pm on Monday, April 4, 2022 pending the discharge of the fabric announcement. – Bernama

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