SSTEEL

0.395

-0.005 (-1.2%)

OTHERS SOUTHERN STEEL BERHAD ("SSB" OR THE "COMPANY") - EXECUTION OF THE HEADS OF AGREEMENT IN RELATION TO THE PROPOSED ACQUISITION BY SSB OF 100% OF THE ISSUED SHARE CAPITAL IN ANN JOO STEEL BERHAD ("AJSB"), COMPRISING 612,993,535 ISSUED ORDINARY SHARES IN AJSB FROM ANN JOO RESOURCES BERHAD ("AJRB" OR THE "SELLER") ("PROPOSED ACQUISITION")

SOUTHERN STEEL BERHAD

Type Announcement
Subject OTHERS
Description 
SOUTHERN STEEL BERHAD ("SSB" OR THE "COMPANY") 

- EXECUTION OF THE HEADS OF AGREEMENT IN RELATION TO THE PROPOSED ACQUISITION BY SSB OF 100% OF THE ISSUED SHARE CAPITAL IN ANN JOO STEEL BERHAD ("AJSB"), COMPRISING 612,993,535 ISSUED ORDINARY SHARES IN AJSB FROM ANN JOO RESOURCES BERHAD ("AJRB" OR THE "SELLER") ("PROPOSED ACQUISITION")

The board of directors of SSB ("Board") wishes to announce that the Company had, on 27 March 2026, executed a heads of agreement ("HOA") with AJRB which outlines the principal terms and conditions of the Proposed Acquisition.

 

Both SSB and the Seller (collectively referred to as the "Parties") have agreed to negotiate on the terms of the Proposed Acquisition and to enter, if agreed, into a definitive share purchase agreement ("SPA") within 60 days from the date of the HOA or any extended date to be agreed between the Parties. A detailed announcement on the Proposed Acquisition will be made upon execution of the SPA.

 

Please refer to the attachment for further details of the announcement and salient terms of the HOA.

 

This announcement is dated 27 March 2026. 


Please refer attachment below.

Attachments

SSB - Announcement on the HOA (27 Mar 2026).pdf
215.9 kB


Announcement Info

Company Name SOUTHERN STEEL BERHAD
Stock Name SSTEEL
Date Announced 27 Mar 2026
Category General Announcement for PLC
Reference Number GA1-27032026-00052


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