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Tuas Limited (ASX:TUA)

ALERT: Price-sensitive ASX Announcement for TUA
Current share price for TUA : $2.060 -4.04 (-66.23%)+
Announcement
Release
18 May 2026 9:38AM
Price at Release
$6.100
Full Release
download
Summary
Tuas Limited announced that the Infocomm Media Development Authority of Singapore (IMDA) has suspended the review of Tuas's proposed acquisition of M1 Limited due to alleged unauthorized use of radio frequency bands by Simba, which could breach the Telecommunications Act. Tuas is investigating these allegations while continuing discussions with its counterparties, as the transaction's long-stop date approaches on 21 May 2026. Tuas has committed to keeping the market informed about future developments.
Key Points
  • Tuas Limited was advised by the Infocomm Media Development Authority of Singapore (IMDA) about the suspension of review.
  • The suspension concerns Tuas's acquisition of M1 Limited.
  • The suspension was due to Simba using unauthorized radio frequency bands.
  • Simba's use of these bands would breach the Telecommunications Act and the conditions of its Facilities-Based Operations Licence.
  • Tuas is reviewing the circumstances regarding the alleged unauthorized use.
  • The Share Purchase Agreement for this transaction has a long-stop date of 21 May 2026.
  • Ongoing discussions are being held with counterparties of the Share Purchase Agreement.
  • Tuas will update the market as developments occur.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.