EASTLND

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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS EASTLAND EQUITY BERHAD ("THE COMPANY" OR "EEB") - PROPOSED ACQUISITION OF DEVELOPMENT RIGHTS

EASTLAND EQUITY BHD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
EASTLAND EQUITY BERHAD ("THE COMPANY" OR "EEB")
- PROPOSED ACQUISITION OF DEVELOPMENT RIGHTS

The Board of Directors of EEB wishes to announce that, FBO Land (Setapak) Sdn. Bhd. ("FBO" or "Purchaser"), a wholly-owned subsidiary of the Company had on 18 August 2020 entered into a conditional sale and purchase agreement ("CSPA") with Inland World Sdn. Bhd. ("IWSB" or "Vendor") ("Proposed Acquisition of Development Rights") in relation to the purchase all rights, title, benefits, interests, covenants, undertakings, duties, liabilities and obligations of IWSB under the Joint Venture Agreement (hereinafter defined) ("Development Rights") and which are to be transferred to and/or assumed by FBO pursuant to the CSPA. 

 

Please refer to the attached file for details of the announcement.

 

This announcement is dated 18 August 2020.




Please refer attachment below.



Announcement Info

Company Name EASTLAND EQUITY BHD
Stock Name EASTLND
Date Announced 18 Aug 2020
Category General Announcement for PLC
Reference Number GA1-24122019-00032