TUA.ASX: IMDA suspends review of consolidation application

IMDA suspends review of consolidation application

Stock	Tuas Ltd (TUA.ASX)
Release Time	18 May 2026, 9:38 a.m.
Price Sensitive	Yes

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IMDA Suspends Review of Tuas' Acquisition of M1 Limited

Key Points

IMDA suspended review of Tuas' acquisition of M1 Limited
Suspension due to unauthorized use of radio frequency bands by Simba
Tuas' Board reviewing the circumstances
Share Purchase Agreement has a long-stop date of 21 May 2026
Discussions with counterparties ongoing

Full Summary

Tuas Limited (ASX:TUA) was informed by the Infocomm Media Development Authority of Singapore (IMDA) on Sunday, 17 May 2026, that the review of its proposed acquisition of M1 Limited, announced on 11 August 2025, has been suspended. The suspension is due to IMDA's discovery that Simba may have been using radio frequency bands without authorization, which would violate the Telecommunications Act and Simba's Facilities-Based Operations Licence. Simba is cooperating with IMDA, and Tuas' Board is reviewing the situation. The Share Purchase Agreement for the Transaction has a long-stop date of 21 May 2026, and Tuas is in ongoing discussions with the counterparties to the Share Purchase Agreement.

Outlook

Tuas will keep the market informed as developments occur regarding the acquisition of M1 Limited.