TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS GADANG HOLDINGS BERHAD ("GADANG" OR THE "COMPANY") PROPOSED ACQUISITION OF 21.08 ACRES OF FREEHOLD LAND IDENTIFIED AS PLOT R3-1 IN KWASA DAMANSARA ("SUBJECT LAND") BY ELEGANCE SONATA SDN BHD, AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF GADANG, FROM KWASA DEVELOPMENT (3) SDN BHD FOR A PURCHASE PRICE OF RM114,780,600 ("PROPOSED ACQUISITION")
| GADANG HOLDINGS BHD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | GADANG HOLDINGS BERHAD ("GADANG" OR THE "COMPANY")
PROPOSED ACQUISITION OF 21.08 ACRES OF FREEHOLD LAND IDENTIFIED AS PLOT R3-1 IN KWASA DAMANSARA ("SUBJECT LAND") BY ELEGANCE SONATA SDN BHD, AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF GADANG, FROM KWASA DEVELOPMENT (3) SDN BHD FOR A PURCHASE PRICE OF RM114,780,600
("PROPOSED ACQUISITION") |
|
Reference is made to the announcement dated 18 January 2017 in relation to the Development Rights Agreement (“DRA”) entered into between Elegance Sonata Sdn Bhd and Kwasa Development (3) Sdn Bhd (collectively, the “Parties or singly as the “Party”) for the residential development rights of Plot R3-1 in Kwasa Damansara Township, District of Petaling, Selangor Darul Ehsan.
The Company wishes to announce that Elegance Sonata Sdn Bhd (“ESSB” or the “Purchaser”) had on 28 November 2023 entered into a Sale and Purchase Agreement (“SPA” or “this Agreement”) with Kwasa Development (3) Sdn Bhd (“KD3” or the “Vendor”) for the proposed acquisition of the Subject Land, for a purchase price of Ringgit Malaysia One Hundred and Fourteen Million Seven Hundred and Eighty Thousand and Six Hundred only (RM114,780,600) (“Purchase Price”).
Further details of the Proposed Acquisition are set out in the attachment.
This announcement is dated 28 November 2023. |
|
Please refer attachment below.
Announcement Info
| Company Name | GADANG HOLDINGS BHD |
| Stock Name | GADANG |
| Date Announced | 28 Nov 2023 |
| Category | General Announcement for PLC |
| Reference Number | GA1-28112023-00066 |