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Cocoaland: First Pacific Abortes Proposal

20150723-COCOALAND

Hong Kong / CN. (fpl) Reference is made to First Pacific’s announcements dated 02 June and 07 July 2015 in relation to its proposed acquisition of all the business and undertaking, including all the assets and liabilities, of Cocoaland Holdings Berhad. Unless the context otherwise requires, capitalized terms used herein shall bear the same meanings as defined in the Company’s announcement dated 02 June 2015. For details, please refer to «First Pacific Company needs more time for due diligence» in bakenet:eu on July 09.

First Pacific Company Limited has sent a letter dated 19 July 2015 to inform the board of directors of Cocoaland that the Company is withdrawing its intention to acquire all the business and undertaking of Cocoaland. The reason is due to the Company’s determination, after completion of the due diligence exercise, that the strategic fit offered by Cocoaland differs from what the Company had envisaged. Accordingly, the Proposal is aborted.

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