Keppel Ltd. Announces Extension of Long-Stop Date for Proposed Divestment of M1 Limited

Key Developments in the M1 Limited Divestment Process

Keppel Ltd. has provided an update regarding its previously announced proposed divestment of its subsidiary, M1 Limited (“M1”). The company had earlier announced, on 11 August 2025, its intention to divest M1 to Simba Telecom Pte. Ltd. (the “Purchaser”), subject to various conditions including regulatory approval from the Infocomm Media Development Authority of Singapore (IMDA).

Key Points from the Report

• Regulatory Review in Progress: As of 26 March 2026, IMDA’s review of the proposed transaction is ongoing. M1, the Purchaser, and other relevant parties have made additional submissions to IMDA as part of the regulatory process.
• Extension of Long-Stop Date: The original Share Purchase Agreement (SPA) stipulated that the transaction would lapse if all conditions were not met or waived within six months of the regulatory application—specifically, by 26 March 2026. However, Keppel Ltd. has announced that all parties have mutually agreed to extend the Long-Stop Date to 21 May 2026 to allow more time for the regulatory review and completion of the required conditions.
• Ongoing Negotiations and Submissions: Both M1 and Simba Telecom are actively engaged in further submissions to IMDA, indicating that regulatory approval is not yet secured and that there may be ongoing negotiations or clarifications required.

Important Information for Shareholders

• Potential Share Price Sensitivity: The divestment of M1 is a significant transaction for Keppel Ltd. If completed, it could materially affect the company’s financial position and future strategy. Delays or failure to obtain regulatory approval—or further extensions of the Long-Stop Date—could create uncertainty and potentially impact Keppel’s share price.
• Conditional Nature of Transaction: If all conditions (including regulatory approval) are not met or waived by the new Long-Stop Date (21 May 2026), the SPA will terminate and the transaction will not proceed. This is a key risk factor for investors to monitor.
• Advice for Investors: Keppel Ltd. has advised shareholders to exercise caution when dealing in its shares or other securities, and to consult with professional advisers if in doubt. Future updates or material developments regarding the transaction could result in share price movements.

Next Steps

Keppel Ltd. has committed to keeping shareholders updated and will make further announcements as and when there are material developments relating to the proposed divestment of M1. Investors should continue to monitor official communications from the company for the latest information.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to conduct their own research or consult their financial advisers before making any investment decisions in relation to Keppel Ltd. or its securities.

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