CelcomDigi unit terminates share subscription agreement with DNB
CelcomDigi’s units terminate SSAs with DNB
Termination due to long stop date to fulfil all precedent conditions, they say
CelcomDigi Bhd said the share subscription agreements involved the proposed subscription of 100,000 new ordinary shares in Digital Nasional Bhd and up to 291.57 million rights to allotment of DNB shares
KUALA LUMPUR: CelcomDigi Bhd’s subsidiaries, Digi Telecommunications Sdn Bhd and Celcom Mobile Sdn Bhd, terminated their respective share subscription agreements (SSA) with Digital Nasional Bhd (DNB) effective today.
In a notification to Bursa Malaysia, it said the termination was due to the deadline to fulfill all the previous conditions under the SSA, which was signed on Oct 7, 2022, having expired.
It said the SSA involved the proposed subscription of 100,000 new ordinary shares in DNB and up to 291.57 million rights to the allocation of DNB shares.
“The termination of the SSA is not expected to have a significant impact on the income, net assets and debt level of the CelcomDigi group for the financial year ending Dec 31, 2023,” he said.
