TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS MAH SING GROUP BERHAD ("MAH SING" OR "COMPANY") PROPOSED ACQUISITION BY VENICE VIEW DEVELOPMENT SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF MAH SING OF 2 PARCELS OF FREEHOLD LAND MEASURING APPROXIMATELY 75.7472 ACRES IN TOTAL IN MUKIM PULAI, DAERAH JOHOR BAHRU, NEGERI JOHOR WITH POTENTIAL GROSS DEVELOPMENT VALUE OF APPROXIMATELY RM480 MILLION FOR A TOTAL PURCHASE CONSIDERATION OF RM76,094,269.68 ("PROPOSED ACQUISITION")
| MAH SING GROUP BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | MAH SING GROUP BERHAD ("MAH SING" OR "COMPANY")
PROPOSED ACQUISITION BY VENICE VIEW DEVELOPMENT SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF MAH SING OF 2 PARCELS OF FREEHOLD LAND MEASURING APPROXIMATELY 75.7472 ACRES IN TOTAL IN MUKIM PULAI, DAERAH JOHOR BAHRU, NEGERI JOHOR WITH POTENTIAL GROSS DEVELOPMENT VALUE OF APPROXIMATELY RM480 MILLION FOR A TOTAL PURCHASE CONSIDERATION OF RM76,094,269.68 ("PROPOSED ACQUISITION") |
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(Unless otherwise defined in this announcement, the terms used throughout this announcement shall have the same meaning as defined in the announcements dated 13 June 2023, 11 October 2023, 13 October 2023 and 16 October 2023 in relation to the Proposed Acquisition)
The Company wishes to announce that the Purchaser had on 18 October 2023 received notification from its solicitors confirming that the Conditions Precedent of Parcel 2 set out in paragraph 2.3.7 of the Company’s announcement dated 13 June 2023 have been fulfilled, save and except for the resolution of all the due diligence issues arising from the due diligence conducted by the Purchaser, to the satisfaction of the Purchaser at the cost and expense of the Parcel 2 Vendor (“Resolution of Parcel 2 DD Issues”). Pursuant to Clause 2A.6 of Parcel 2 SPA, as required by the Purchaser and agreed by the Parcel 2 Vendor, the Resolution of Parcel 2 DD Issues is converted to condition to be completed and fulfilled by the Parcel 2 Vendor post completion within six (6) months after the Parcel 2 Completion Date in accordance with the terms of the Parcel 2 SPA.
Accordingly, Parcel 2 SPA has now become unconditional.
This announcement is dated 18 October 2023. |
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Announcement Info
| Company Name | MAH SING GROUP BERHAD |
| Stock Name | MAHSING |
| Date Announced | 18 Oct 2023 |
| Category | General Announcement for PLC |
| Reference Number | GA1-18102023-00011 |