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TITAN CHEMICALS CORP. BHD.
("TITAN" OR THE "COMPANY")
PROPOSED REVERSE TAKEOVER OF PT FATRAPOLINDO NUSA INDUSTRI Tbk. ("PT
FATRAPOLINDO" OR "THE ISSUER") BY WAY OF:-
(I) PROPOSED SUBSCRIPTION IN CASH BY TITAN INTERNATIONAL CORP. SDN. BHD., A
WHOLLY-OWNED SUBSIDIARY OF TITAN, OF UP TO 5,156.21 MILLION NEW ORDINARY SHARES
OF INDONESIAN RUPIAH ("RP") 250 EACH IN PT FATRAPOLINDO AT AN ISSUE PRICE OF
RP345 EACH ("PROPOSED SUBSCRIPTION"); AND
(II) PROPOSED DISPOSAL OF 100% EQUITY INTEREST IN CHEMICAL BROTHERS LIMITED
("CBL") BY TITAN PETCHEM (M) SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF TITAN, TO
FATRA INTERNATIONAL HOLDING LIMITED FOR A TOTAL CONSIDERATION OF UNITED STATES
DOLLAR ("USD") 188.40 MILLION IN CASH ("PROPOSED DISPOSAL")
(COLLECTIVELY REFERRED TO AS THE "PROPOSED REVERSE TAKEOVER") |