Transactions (Chapter 10 Of Listing Requirements) : Non Related Party Transactions

BackSep 08, 2015
Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
BOUSTEAD PLANTATIONS BERHAD (BPB OR COMPANY)

PROPOSED DISPOSAL OF FREEHOLD LAND MEASURING A TOTAL OF APPROXIMATELY 104.40 HECTARES FOR A TOTAL CASH CONSIDERATION OF APPROXIMATELY RM60.67 MILLION

Reference is made to our announcements dated 19 May and 16 June 2015 respectively.

 

The Board of Directors of BPB wishes to further announce that on 8 September 2015:

  1. CIMB Islamic Trustee Berhad (“CIMB Trustee”), acting solely in the capacity as a trustee for BPB, had entered into a sale and purchase agreement with YTL Cement Berhad ("YTLCB" or "Buyer"), for the proposed disposal of part of 3 parcels of freehold land held under GRN 401071 Lot 86499, GRN 236290 Lot 2939 and GRN 368030 Lot 44930 in Mukim Kulai, District of Kulaijaya, State of Johor measuring approximately 52.69 hectares (Ha”) for a cash consideration of approximately RM30.06 million (“SPA 1”);

  2. Boustead Sungai Manar Sdn. Bhd. (“BSM”), a wholly-owned subsidiary of BPB, had entered into sale and purchase agreements with YTLCB, for the following:             

           a) the proposed disposal of part of parcel of freehold land held under GRN 353782 Lot 44925 in Mukim Kulai, District of Kulaijaya, State of Johor measuring approximately 18.45 Ha for a cash consideration of  approximately RM10.92 million (“SPA 2”); and     

 

          b)  the proposed disposal of 2 parcels of freehold land held under GRN 35738 Lot 44923 (PTD 71230) and GRN 353777 Lot 44924  in Mukim Kulai, District of Kulaijaya, State of Johor measuring approximately 33.26 Ha for a cash consideration of approximately RM19.69 million (“SPA 3”),     

(collectively referred to as "Proposed Disposal")                                                                                                                                                                   

Pursuant to Paragraph 10.12(2)(c) of the MMLR of Bursa Securities, the highest aggregate percentage ratio after taking into consideration the disposals of contiguous land parcels as announced by BPB on 19 May 2015 and 16 June 2015 as well as this Proposed Disposal is 8.88%.

Details of the Proposal Disposal are set out in the attachment herein.

This announcement is dated 8 September 2015.

 



Please refer attachment below.

 

Announcement Info

Company Name BOUSTEAD PLANTATIONS BERHAD
Stock Name BPLANT
Date Announced 08 Sep 2015
Category General Announcement for PLC
Reference Number GA1-08092015-00046

 

Attachments

  1. Land_Disposals_to_YTL.pdf (Size: 155,423 bytes)
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