CELCOMDIGI Bhd subsidiaries, Digi Telecommunications Sdn Bhd and Celcom Mobile Sdn Bhd, have terminated their share subscription agreement (SSA) with Digital Nasional Bhd (DNB).

In a filing with Bursa Malaysia, they said the deal was terminated because the deadline to fulfil the conditions precedent under the SSA, signed on October 7, 2022, had lapsed.

It said the SSA involved the subscription of 100,000 new ordinary shares in DNB and 291.57 million rights to allotment of DNB shares.

“The termination of the SSA is not expected to have any significant effect on earnings, net assets and gearing of CelcomDigi group for the financial year ending Dec 31, 2023,” the filing read.

DNB is a government-owned special-purpose vehicle company established in early March 2021 to drive the development of 5G infrastructure in Malaysia. – Bernama, May 4, 2023.