TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PROPOSED ACQUISITION OF TWO CONTIGUOUS PIECES OF FREEHOLD LAND MEASURING APPROXIMATELY 18,384 SQUARE METRES (4.542 ACRES) IN TOTAL AREA TOGETHER WITH ALL BUILDINGS ERECTED THEREON AND SITUATED IN SEKSYEN 89A, BANDAR KUALA LUMPUR, DAERAH KUALA LUMPUR, WILAYAH PERSEKUTUAN KUALA LUMPUR FROM TWO SUBSIDIARIES OF WING TAI HOLDINGS LIMITED AT A TOTAL CASH CONSIDERATION OF RM243,800,000.00
| PARAMOUNT CORPORATION BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | PROPOSED ACQUISITION OF TWO CONTIGUOUS PIECES OF FREEHOLD LAND MEASURING APPROXIMATELY 18,384 SQUARE METRES (4.542 ACRES) IN TOTAL AREA TOGETHER WITH ALL BUILDINGS ERECTED THEREON AND SITUATED IN SEKSYEN 89A, BANDAR KUALA LUMPUR, DAERAH KUALA LUMPUR, WILAYAH PERSEKUTUAN KUALA LUMPUR FROM TWO SUBSIDIARIES OF WING TAI HOLDINGS LIMITED AT A TOTAL CASH CONSIDERATION OF RM243,800,000.00 |
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The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcement dated 16 July 2020 in relation to the Proposed Acquisition.
The Board of Directors of Paramount is pleased to announce that the total Balance Purchase Consideration of RM219,420,000.00 (being the Seniharta Balance Purchase Consideration of RM73,980,000.00 and the DNPJ Balance Purchase Consideration of RM145,440,000.00) in respect of the Proposed Acquisition has been settled on 16 October 2020, marking the completion of the Proposed Acquisition on even date.
This announcement is dated 16 October 2020.
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Announcement Info
| Company Name | PARAMOUNT CORPORATION BERHAD |
| Stock Name | PARAMON |
| Date Announced | 16 Oct 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-09102020-00018 |