The proposed disposal entails the sale of 102,910,000 ordinary shares of UNIM for a cash consideration in RM equivalent to €23,500,000 (based on the exchange rate on the date of payment). Upon completion of the proposed disposal, BHB will cease to hold any shares in UNIM. Boustead Group’s Managing Director, Dato’ Seri Mohammed Shazalli Ramly, said in a statement that this exit is part of its Reinventing Boustead Strategy that will allow the Group to further capitalize its strengths and resources more effectively in supporting the development of education in Malaysia on a wider scale. He added that BHB, being a government-linked company, will continue to create other forms of collaboration and partnerships that will help prepare valuable future talents, particularly in digital technologies, renewable energy and internet of things, among others. The proposed disposal was also featured in The EDGE on 17 August 2021, HERE. Please click HERE for the Bursa Malaysia Announcement. For more insight into this area of law, please contact our Partners in the Projects & Corporate Advisory and Capital Markets Practice Group: Projects & Corporate Advisory Khairuzzaman Muhammad Falisa Abu Bakar Capital Markets Jerry Ong Kok Wah Cathryn Chay David Lee Lai Huat