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PETALING JAYA: Boustead Holdings Bhd’s (BHB) proposed agreement to dispose of a 66.41% controlling stake in University of Nottingham in Malaysia has lapsed.

In a filing with Bursa Malaysia yesterday, BHB said the conditions precedent remained unfulfilled as at Aug 16, 2022, being the cut-off date for the agreement.

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“BHB and the purchaser have mutually accepted and agreed that the share sale agreement (SSA) shall be deemed to have lapsed and be of no effect in accordance with Clause 2.6 of the SSA and the SSA is accordingly terminated.

”In August last year, BHB announced it would dispose of its controlling stake in UNM and a campus in Semenyih, Selangor for £23.5mil (RM126mil), exiting from its venture in the educational institution.