| Type | Announcement |
| Subject | OTHERS |
| Description | PROPOSED ACQUISITIONS OF (I) 26,985,030 ORDINARY SHARES OF RM1.00 EACH IN KINABALU MOTOR ASSEMBLY SDN. BHD. (“KMASB”); AND (II) 5,400,000 ORDINARY SHARES OF RM1.00 EACH AND 100,000 PREFERENCE SHARES OF RM0.01 EACH IN LION MOTOR SDN. BHD. (“LMSB”) VIA THE EXECUTION OF TWO CONDITIONAL SHARE SALE AND PURCHASE AGREEMENTS WITH (I) LION CORPORATION BERHAD AND LIONFOREST INDUSTRIES BERHAD, BEING VENDORS FOR KMASB’S SHARES (COLLECTIVELY REFERRED TO AS THE “FIRST VENDOR”; AND (II) SILVERSTONE CORPORATION BERHAD, CEDR CONSULTING SDN. BHD., INNOVASI ISTIMEWA SDN. BHD. AND RANGE GROVE SDN. BHD., BEING VENDORS FOR LMSB’S SHARES (COLLECTIVELY REFERRED TO AS THE “SECOND VENDOR”) (COLLECTIVELY REFERRED TO AS “PROPOSED ACQUISITIONS”) |
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The announcements made on the above matters on 14 October 2010 and 13 January 2011 refers. The Board of Directors of MBMR wishes to announce that MBMR have on 28 February 2011 entered into supplementary agreements, each with the First Vendor andthe Second Vendor to mutually agree that MBMR’s proposed acquisition of KMASB shall not be inter-conditional with the completion of MBMR’s proposed acquisition of LMSB. This announcement is dated 28 February 2011. |
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| Company Name | MBM RESOURCES BHD |
| Stock Name | MBMR |
| Date Announced | 28 Feb 2011 |
| Category | General Announcement |
| Reference No | CMS-110228-E4CD9 |
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