OTHERS UEM SUNRISE BERHAD (UEMS) I. JOINT VENTURE (JV) CUM SHAREHOLDERS' AGREEMENT BETWEEN UEM LAND BERHAD (UEML), A WHOLLY-OWNED SUBSIDIARY OF UEMS, LEISURE FARM CORPORATION SDN BHD (LFC), A WHOLLY-OWNED SUBSIDIARY OF MULPHA INTERNATIONAL BERHAD (MIB) & GERBANG LEISURE PARK SDN BHD (GLPSB), THE 50:50 JV COMPANY JOINTLY OWNED BY UEML AND LFC; & II. MASTER AGREEMENT BETWEEN GLPSB, NUSAJAYA SEAVIEW SDN BHD & NUSAJAYA RISE SDN BHD (BOTH ARE INDIRECT WHOLLY-OWNED SUBSIDIARIES OF UEMS) & LFC
| UEM SUNRISE BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | UEM SUNRISE BERHAD (UEMS) I. JOINT VENTURE (JV) CUM SHAREHOLDERS' AGREEMENT BETWEEN UEM LAND BERHAD (UEML), A WHOLLY-OWNED SUBSIDIARY OF UEMS, LEISURE FARM CORPORATION SDN BHD (LFC), A WHOLLY-OWNED SUBSIDIARY OF MULPHA INTERNATIONAL BERHAD (MIB) & GERBANG LEISURE PARK SDN BHD (GLPSB), THE 50:50 JV COMPANY JOINTLY OWNED BY UEML AND LFC; & II. MASTER AGREEMENT BETWEEN GLPSB, NUSAJAYA SEAVIEW SDN BHD & NUSAJAYA RISE SDN BHD (BOTH ARE INDIRECT WHOLLY-OWNED SUBSIDIARIES OF UEMS) & LFC |
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We refer to our announcements dated 16 February 2016, 17 February 2016, 26 May 2016, 15 February 2018, 15 February 2019 and 14 February 2020 in relation to the above. Unless otherwise stated, the definitions used herein shall have the same meanings as set out in these announcements.
The Company wishes to announce that both UEMS and MIB have mutually agreed not to continue with the Master Agreement since the conditions precedent as detailed out under the Master Agreement (refer to announcement dated 16 February 2016) have not been fulfilled or waived during the extended conditional period. Hence, both UEMS and MIB have mutually agreed to terminate the Master Agreement, whereupon termination, shall become null and void, and of no effect whatsoever upon the expiry of the extended conditional period on 15 February 2021.
The termination of the Master Agreement does not have any effect on UEMS’ issued and paid-up share capital and shareholdings of UEMS’ substantial shareholders, as well as UEMS Group's net assets, gearing and earnings per share.
This announcement is dated 15 February 2021. |
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Announcement Info
| Company Name | UEM SUNRISE BERHAD |
| Stock Name | UEMS |
| Date Announced | 15 Feb 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-15022021-00041 |