TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PROPOSED ACQUISITION BY LEISURE EVENT SDN. BHD. ("LESB" OR "PURCHASER"), A WHOLLY-OWNED SUBSIDIARY OF AVALAND HOLDINGS BERHAD, WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF AVALAND BERHAD, OF A PARCEL OF LEASEHOLD DEVELOPMENT LAND MEASURING APPROXIMATELY 2.172 ACRES AT BANDAR PETALING JAYA ("LAND") FROM COMIT COMMUNICATION TECHNOLOGIES (M) SDN. BHD. ("CCT" OR "VENDOR") FOR A TOTAL PURCHASE CONSIDERATION OF RM49.0 MILLION
| AVALAND BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | PROPOSED ACQUISITION BY LEISURE EVENT SDN. BHD. ("LESB" OR "PURCHASER"), A WHOLLY-OWNED SUBSIDIARY OF AVALAND HOLDINGS BERHAD, WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF AVALAND BERHAD, OF A PARCEL OF LEASEHOLD DEVELOPMENT LAND MEASURING APPROXIMATELY 2.172 ACRES AT BANDAR PETALING JAYA ("LAND") FROM COMIT COMMUNICATION TECHNOLOGIES (M) SDN. BHD. ("CCT" OR "VENDOR") FOR A TOTAL PURCHASE CONSIDERATION OF RM49.0 MILLION |
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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 announcement dated 1 July 2025 and 3 November 2025 in relation to the Proposed Acquisition.)
The Company wishes to announce that on 16 January 2026, LESB received a notification from its solicitors confirming that the Balance Purchase Price under the Sale and Purchase Agreement (“SPA”) had been fully paid on the same date. Accordingly, the Proposed Acquisition is deemed completed on 16 January 2026.
This announcement is dated 19 January 2026. |
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Announcement Info
| Company Name | AVALAND BERHAD |
| Stock Name | AVALAND |
| Date Announced | 19 Jan 2026 |
| Category | General Announcement for PLC |
| Reference Number | GA1-19012026-00004 |