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

BackJan 24, 2018
Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description

BOUSTEAD PLANTATIONS BERHAD ("BPB" OR "COMPANY") PROPOSED SALE OF FREEHOLD PLANTATION LANDS HELD UNDER 3 LAND TITLES MEASURING A TOTAL OF 138.89 HECTARES FOR A TOTAL CASH CONSIDERATION OF RM136,043,971.70

On behalf of the Board of Directors of BPB, Affin Hwang Investment Bank Berhad wishes to announce that CIMB Islamic Trustee Berhad, acting solely in the capacity as a trustee for BPB, had on 24 January 2018 entered into the following:

(i) sale and purchase agreement with Sunrich Conquest Sdn Bhd (“First SPA”) for the proposed sale of a parcel of freehold land held under GRN 57798 Lot 4358, Mukim 12, District of Seberang Perai Utara, Pulau Pinang measuring 82.84 hectares (“Ha”) for a total cash consideration of RM81,142,971.00, subject to the terms and conditions of the First SPA (“First Proposed Sale”); and

(ii) sale and purchase agreement with Titanium Greenview Sdn Bhd (“Second SPA”) for the proposed sale of 2 parcels of freehold land held under GM 288 Lot 248 and GRN 19398 Lot 249, both in Mukim 12, District of Seberang Perai Utara, Pulau Pinang measuring 0.20 Ha and 55.85 Ha respectively for a total cash consideration of RM54,901,000.70, subject to the terms and conditions of the Second SPA (“Second Proposed Sale”).

Please refer to the attachment for further details on the First Proposed Sale and Second Proposed Sale.

 

This announcement is dated 24 January 2018.

 

 


Announcement Info

Company Name BOUSTEAD PLANTATIONS BERHAD
Stock Name BPLANT
Date Announced 24 Jan 2018
Category General Announcement for PLC
Reference Number GA1-23012018-00096

Attachments

  1. BPB_Announcement_-_Proposed_Sale_(24.1.2018).pdf (Size: 285,240 bytes)
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