BRC Asia, LTC extends deadline of Angkasa ordinary shares acquisition

The new deadline is on 30 August.

BRC Asia Limited announced that they have agreed with LTC Corporation (LTC) to extend the deadline on the proposed acquisition of ordinary shares of Angkasa Daehan Steel (Angkasa) to 30 August.

In a bourse filing, BRC Asia said that LTC Corporation needed more time to fulfill certain conditions.

BRC Asia said that they are targeting to complete the acquisition on 27 August, if all conditions under the sale and purchase agreement (SPA) are either met or waived.

If these conditions are not met or waived by the new agreed deadline, the SPA will cease and no longer be valid.

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