Maybulk clarifies deferred dividend for EMTS vendors

Maybulk said the deferred dividend is included in the SSA as the actual shareholders’ fund can only be determined upon the issuance of the audited financial statements of EMTS for the financial year ended Dec 31, 2022.

PETALING JAYA: Malaysian Bulk Carriers Bhd (Maybulk) says the amount of deferred dividend to be paid to vendors of EMT Systems Sdn Bhd (EMTS), formerly known as E Metall Systems Sdn Bhd, shall not be more than RM1.5mil.

On Jan 18, 2023, Maybulk announced it had entered into a share sale agreement (SSA) with Grand East Metal (Kulim) Sdn Bhd and Goh Ting Hong (collectively vendors) for the acquisition of the entire equity interest in EMTS for RM70mil.