TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : COMBINATION OF TRANSACTIONS ICON OFFSHORE BERHAD (“ICON” OR “COMPANY”) (I) PROPOSED ACQUISITION OF LIANNEX FLEET; (II) PROPOSED ACQUISITION OF YINSON POWER MARINE; (III) PROPOSED ACQUISITION OF REGULUS OFFSHORE; (IV) PROPOSED ACQUISITION OF YINSON CAMELLIA; (V) PROPOSED ACQUISITION OF YPVPL; (VI) PROPOSED ACQUISITION OF YPL; (VII) PROPOSED ACQUISITION OF ICON BAHTERA; AND (VIII) PROPOSED ACQUISITION OF ICON WAJA (COLLECTIVELY REFERRED TO AS “PROPOSED ACQUISTIONS”)

ICON OFFSHORE BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
COMBINATION OF TRANSACTIONS
Description 
ICON OFFSHORE BERHAD (“ICON” OR “COMPANY”)

(I)	 PROPOSED ACQUISITION OF LIANNEX FLEET;
(II)	 PROPOSED ACQUISITION OF YINSON POWER MARINE;
(III)	 PROPOSED ACQUISITION OF REGULUS OFFSHORE;
(IV)	 PROPOSED ACQUISITION OF YINSON CAMELLIA;
(V)	 PROPOSED ACQUISITION OF YPVPL;
(VI)	 PROPOSED ACQUISITION OF YPL;
(VII)	 PROPOSED ACQUISITION OF ICON BAHTERA; AND
(VIII)  PROPOSED ACQUISITION OF ICON WAJA

(COLLECTIVELY REFERRED TO AS “PROPOSED ACQUISTIONS”)

(Unless otherwise stated, all abbreviations used in this announcement shall have the same meanings as defined in the Company’s announcements dated 30 August 2024, 22 November 2024 and 25 November 2024 in relation to the Proposed Acquisitions)

On behalf of the Board, Maybank IB is pleased to announce that Bursa Securities had vide its letter dated 31 December 2024 resolved to approve the listing and quotation of 458,522,728 new ICON Shares to be issued pursuant to the Proposed Acquisition of Liannex Fleet, Proposed Acquisition of Yinson Power Marine, Proposed Acquisition of Regulus Offshore, Proposed Acquisition of Yinson Camellia, Proposed Acquisition of ICON Bahtera and Proposed Acquisition of ICON Waja (collectively, “Proposed Transactions”) on the Main Market of Bursa Securities subject to the following conditions:

(i)         ICON and Maybank IB must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Transactions;

(ii)         ICON must comply with the public security holding spread requirements pursuant to paragraph 8.02(1) of the Listing Requirements upon listing and quotation of the Consideration Shares;

(iii)        ICON is required to provide a certified true copy of the resolution passed by shareholders in general meeting approving the Proposed Transactions prior to listing and quotation of the Consideration Shares;

(iv)        ICON and Maybank IB are required to inform Bursa Securities upon completion of the Proposed Transactions; and

(v)        ICON and Maybank IB are required to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Transactions are completed.

Additionally, on behalf of the Board, Maybank IB is also pleased to announce that BNM had vide its letter dated 27 December 2024 resolved to approve the Proposed Acquisition of Liannex Fleet, Proposed Acquisition of YPVPL, Proposed Acquisition of YPL, Proposed Acquisition of ICON Bahtera and Proposed Acquisition of ICON Waja.

Maybank IB, on behalf of the Board, also wishes to announce that the Company has decided to proceed to table the Proposed Acquisition of YPVPL and Proposed Acquisition of YPL in a separate EGM to be convened at a later date. An additional listing application for the listing and quotation of the Consideration Shares for the Proposed Acquisition of YPVPL and Proposed Acquisition of YPL will be re-submitted at a later date.

This announcement is dated 31 December 2024.



Announcement Info

Company Name ICON OFFSHORE BERHAD
Stock Name ICON
Date Announced 31 Dec 2024
Category General Announcement for PLC
Reference Number GA1-31122024-00028