TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS OCK GROUP BERHAD ("OCK" OR THE "COMPANY") PROPOSED INVESTMENT BASED ON AN INDICATIVE ENTERPRISE VALUE OF RM350.00 MILLION (SUBJECT TO ADJUSTMENTS) IN SOLARPACK ASIA SDN BHD AND INDIRECTLY IN SOLARPACK SURIA SUNGAI PETANI SDN BHD, THE DEVELOPER, OWNER AND OPERATOR OF A 116 MW OPERATIONAL SOLAR PHOTOVOLTAIC PLANT LOCATED IN SUNGAI PETANI, KEDAH, AWARDED UNDER THE THIRD LARGE-SCALE SOLAR PROGRAMME (LSS3) ("SOLAR PROJECT")

OCK GROUP BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
OCK GROUP BERHAD ("OCK" OR THE "COMPANY")

PROPOSED INVESTMENT BASED ON AN INDICATIVE ENTERPRISE VALUE OF RM350.00 MILLION (SUBJECT TO ADJUSTMENTS) IN SOLARPACK ASIA SDN BHD AND INDIRECTLY IN SOLARPACK SURIA SUNGAI PETANI SDN BHD, THE DEVELOPER, OWNER AND OPERATOR OF A 116 MW OPERATIONAL SOLAR PHOTOVOLTAIC PLANT LOCATED IN SUNGAI PETANI, KEDAH, AWARDED UNDER THE THIRD LARGE-SCALE SOLAR PROGRAMME (LSS3) ("SOLAR PROJECT")

On behalf of the Board of Directors of OCK ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce that the Company had on 10 December 2024 entered into a conditional investment agreement with Zelestra Corporacion, S.A.U ("Zelestra") and Solarpack Asia Sdn Bhd ("SPK Asia") in relation to an investment in SPK Asia ("Proposed Investment") and the novation in favour of OCK (or its nominated entity within the OCK Group) of a loan granted by Zelestra to JKH Renewables Sdn Bhd (the "Investment Agreement" and "JKH", respectively), based on an indicative enterprise value of RM350.00 million (subject to adjustments set out in Section 2.1 of the announcement). SPK Asia and JKH owns 49% and 51%, respectively, of the ordinary shares in Solarpack Suria Sungai Petani Sdn Bhd ("3SP"), the developer, owner and operator of the Solar Project.

Further details of the Proposed Investment are set out in the attachment enclosed.

This announcement is dated 10 December 2024.






Announcement Info

Company Name OCK GROUP BERHAD
Stock Name OCK
Date Announced 10 Dec 2024
Category General Announcement for PLC
Reference Number GA1-10122024-00076


Please refer attachment below.

  1. OCK - Announcement (Proposed Investment).pdf