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Tuas Limited (ASX:TUA)

ALERT: Price-sensitive ASX Announcement for TUA
Current share price for TUA : $1.675 -0.635 (-27.49%)+
Announcement
Release
22 May 2026 8:35AM
Price at Release
$2.310
Full Release
download
Summary
Tuas Limited announced the termination of the Sale and Purchase Agreement (SPA) with its subsidiary Simba Telecom Pte Ltd and Keppel Konnect Pte Ltd, originally announced on 11 August 2025. The agreement, which involved Simba's acquisition of shares in M1 Limited, was subject to certain conditions precedent being fulfilled or waived by the Long-Stop Date, which was extended to 21 May 2026. As several conditions were not met by this date, the SPA was terminated, releasing the involved parties from their obligations. Simba is cooperating with an investigation by the Infocomm Media Development Authority into potential breaches related to the Telecommunications Act and its Facilities-Based Operator Licence. Despite the termination, Simba continues to operate in the Singapore telecommunications market.
Key Points
  • Termination of Sale and Purchase Agreement between Tuas Limited and Keppel Konnect.
  • The agreement was related to Simba's purchase of shares in M1 Limited.
  • Conditions precedent not fulfilled by the Long-Stop Date of 21 May 2026.
  • Simba continues to cooperate with an investigation by the Infocomm Media Development Authority.
  • Simba maintains its operations in the Singapore telecommunications market.
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.