GLBHD

0.270

(%)

OTHERS PROPOSED ACQUISITION OF 95% FULLY PAID-UP SHARES OF RP 1,000,000 EACH IN PT SETARA KILAU MAS ADICITA ("PT SKMA") AT A PURCHASE CONSIDERATION OF RP 24,433,165,000 BY THE WHOLLY-OWNED SUBSIDIARY OF GOLDEN LAND BERHAD ("GLBHD"), SHINNY YIELD HOLDINGS LIMITED ("SYHL")

GOLDEN LAND BERHAD

Type Announcement
Subject OTHERS
Description
PROPOSED ACQUISITION OF 95% FULLY PAID-UP SHARES OF RP 1,000,000 EACH IN PT SETARA KILAU MAS ADICITA ("PT SKMA") AT A PURCHASE CONSIDERATION OF RP 24,433,165,000 BY THE WHOLLY-OWNED SUBSIDIARY OF GOLDEN LAND BERHAD ("GLBHD"), SHINNY YIELD HOLDINGS LIMITED ("SYHL")

Reference is made to the announcement dated 17 November 2014.

The Board of Directors of GLBHD wishes to announce that all the terms and conditions under the Conditional Shares Sale and Purchase Agreement have been completed, and SYHL has novated the proposed acquisition of PT SKMA to PT Golden Land Gemilang (“PT GLG”), a wholly-owned subsidiary of GLBHD.

PT GLG has on 2 October 2020 acquired 9,500 shares in PT SKMA representing 95% of its total issued shares and the transfer was approved by the Ministry of Law and Human Rights of Indonesia on 12 October 2020.

Upon completion of the abovementioned acquisition, PT SKMA is now a 95%-owned subsidiary of GLBHD.

This announcement is dated 12 October 2020.






Announcement Info

Company Name GOLDEN LAND BERHAD
Stock Name GLBHD
Date Announced 12 Oct 2020
Category General Announcement for PLC
Reference Number GA1-06102020-00023