KUB

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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PROPOSED DISPOSAL BY KUB AGRO HOLDINGS SDN BHD, AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF KUB MALAYSIA BERHAD ("KUB"), OF TWO OIL PALM ESTATES IN KLUANG, JOHOR TO BERADIN PLANTATION SDN BHD FOR A TOTAL CASH CONSIDERATION OF RM158.0 MILLION ("PROPOSED DISPOSAL")

KUB MALAYSIA BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
PROPOSED DISPOSAL BY KUB AGRO HOLDINGS SDN BHD, AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF KUB MALAYSIA BERHAD ("KUB"), OF TWO OIL PALM ESTATES IN KLUANG, JOHOR TO BERADIN PLANTATION SDN BHD FOR A TOTAL CASH CONSIDERATION OF RM158.0 MILLION ("PROPOSED DISPOSAL")

Reference is made to the announcements dated 10 June 2020, 2 September 2020, 24 September 2020, and 10 December 2020 in relation to the Proposed Disposal.

 

On behalf of KUB, CIMB Investment Bank Berhad wishes to announce that KUB Agro Holdings Sdn Bhd (an indirect wholly-owned subsidiary of KUB) and Beradin Plantation Sdn Bhd have mutually agreed to extend time for the fulfilment of the outstanding conditions precedent of the SPA for a further period of three months commencing from 8 January 2021 and expiring on 8 April 2021.

 

Save for the above, all other terms of the SPA remain unchanged.

 

The extension letter is available for inspection at the registered office of KUB at Level 3A, Unit 1, Capital 3, Oasis Square, Ara Damansara, Jalan PJU 1A/7A, 47301 Petaling Jaya, Selangor Darul Ehsan during normal business hours from Monday to Friday (except public holidays) for a period of 3 months from the date of this announcement.

 

 

This announcement is dated 8 January 2021.






Announcement Info

Company Name KUB MALAYSIA BERHAD
Stock Name KUB
Date Announced 08 Jan 2021
Category General Announcement for PLC
Reference Number GA1-07012021-00015