While continuing the process to complete the pre-conditions of the two aforementioned SPAs, GPH this time, has also signed a binding SPA with the shareholder of Perquisite Port Investment (PPI) to purchase 100% of PPI, which has an indirect 10.14% stake in VCP; and simultaneously completed the purchase of these shares, becoming an indirect shareholder of VCP with 10.14% stake. As the shares taken over from PPI is an indirect purchase of VCP, these shares are not subject to preemptive rights.
Due to the ongoing acquisitions regarding VCP, the commercial details of the transactions will be disclosed once all the share transfers are completed.
Accordingly, out of the three transactions mentioned above, 43.28% of VCP's total capital (33.14% from the second purchase, 10.14% from the last purchase) is not subject to preemptive rights; while for the 30.79% stake, the shareholders' decision whether to exercise preemptive rights or not, is being awaited.
Through the aforementioned three transactions, GPH anticipates to control up to 74.07% of VCP directly and indirectly, depending on the waiver of the preemptive rights of the first signed SPA.
Any further developments will continue to be disclosed.