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BUSINESS

Gamuda: Concession companies, ALR agree to extend long stop date to Oct 31

03/10/2022 07:55 PM

KUALA LUMPUR, Oct 3 (Bernama) -- Gamuda Bhd’s four Klang Valley highway concession holding companies and Amanat Lebuhraya Rakyat (ALR) have agreed to extend the shares sales purchase agreements (SSPAs) long stop date to Oct 31, 2022.

Gamuda said the SSPAs had been executed with ALR on Aug 8, 2022, it said in a filing with Bursa Malaysia today.

It said the extension is to enable ALR to make all payments required to the respective concession companies under the SSPAs (remaining condition precedent).

“The remaining condition precedent is to be fully satisfied on the anticipated issuance of ALR’s Sukuk Programme, which ALR expects to be by mid-October 2022,” Gamuda added.

It said the joint principal advisers, joint lead arrangers and joint lead managers for ALR’s Sukuk Programme had priced its RM5.5 billion nominal value AAA-rated sukuk on Sept 23, 2022.

-- BERNAMA


 


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