STRAITS

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MULTIPLE PROPOSALS STRAITS ENERGY RESOURCES BERHAD ("STRAITS" OR THE "COMPANY") I. PROPOSED PRIVATE PLACEMENT; II. PROPOSED ACQUISITION; AND III. PROPOSED CALL OPTION

STRAITS ENERGY RESOURCES BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description 
STRAITS ENERGY RESOURCES BERHAD ("STRAITS" OR THE "COMPANY")

I.	PROPOSED PRIVATE PLACEMENT;

II.	PROPOSED ACQUISITION; AND

III.	PROPOSED CALL OPTION

MUTUAL TERMINATION OF CALL OPTION GRANTED TO STRAITS ENERGY RESOURCES BERHAD TO ACQUIRE THE REMAINING 10% EQUITY INTEREST IN SINAR MAJU LOGISTIK SDN BHD

 

The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcements in relation to the Proposals.

 

We refer to the earlier announcements dated 25 October 2021, 8 November 2021, 15 December 2021, 30 December 2021, 7 February 2022, 17 February 2022, 18 February 2022, 1 April 2022, 30 May 2022, 30 June 2022, 14 December 2022, 30 September 2024 and 25 September 2025 in relation to the Proposals.

 

The Board of Directors ("Board") of Straits wishes to announce that the Company and Tan Sri Mohd Bakri had on 30 September 2026 entered into a letter of mutual termination ("Letter of Mutual Termination") to terminate the call option granted by the Vendor to the Company to acquire the remaining ordinary shares in Sinar Maju held by the Vendor, representing a 10% equity interest in Sinar Maju ("Call Option Shares").

 

Pursuant to the Letter of Mutual Termination, the Company and the Vendor have agreed not to further extend the Call Option Period and to terminate the Call Option with effect from 30 September 2026. Accordingly, the Company will not proceed with the acquisition of the Call Option Shares, and no consideration is payable by the Company to the Vendor for the termination.

 

The Mutual Termination is not expected to have any material effect on the share capital, net assets, earnings or earnings per share of the Company and its subsidiaries for the financial year ending 30 June 2027.

 

Tan Sri Mohd Bakri, a Director of the Company, is also a director and 10% shareholder of Sinar Maju. In view of his interest in Sinar Maju, Tan Sri Mohd Bakri has abstained from deliberating and voting on the Mutual Termination at the Board meeting of the Company. Other than Tan Sri Mohd Bakri, none of the other Directors, major shareholders and/or persons connected with them has any interest, whether direct or indirect, in the Mutual Termination.

 

The Board, save for Tan Sri Mohd Bakri who has abstained from deliberating and voting on the Mutual Termination, is of the opinion that the Mutual Termination is in the best interests of the Company.

 

This announcement is dated 30 September 2026.



Announcement Info

Company Name STRAITS ENERGY RESOURCES BERHAD
Stock Name STRAITS
Date Announced 30 Sep 2026
Category General Announcement for PLC
Reference Number GA1-30092026-00089


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