TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS ACOUSTECH BERHAD ("ACOUSTECH" OR THE "COMPANY") PROPOSED ACQUISITION BY TERAS ECO SDN BHD ("TERAS ECO"), A WHOLLY-OWNED SUBSIDIARY OF ACOUSTECH, OF THE DEVELOPMENT RIGHTS AND INTEREST HELD BY JAYA MAPAN SDN BHD ("JAYA MAPAN") IN A BLOCK OF 44-STOREY OF SERVICE APARTMENTS FOR A TOTAL PURCHASE CONSIDERATION OF RM18.0 MILLION TO BE SATISFIED THROUGH A COMBINATION OF CASH AND ORDINARY SHARES IN ACOUSTECH ("PROPOSED ACQUISITION")
| ACOUSTECH BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | ACOUSTECH BERHAD ("ACOUSTECH" OR THE "COMPANY")
PROPOSED ACQUISITION BY TERAS ECO SDN BHD ("TERAS ECO"), A WHOLLY-OWNED SUBSIDIARY OF ACOUSTECH, OF THE DEVELOPMENT RIGHTS AND INTEREST HELD BY JAYA MAPAN SDN BHD ("JAYA MAPAN") IN A BLOCK OF 44-STOREY OF SERVICE APARTMENTS FOR A TOTAL PURCHASE CONSIDERATION OF RM18.0 MILLION TO BE SATISFIED THROUGH A COMBINATION OF CASH AND ORDINARY SHARES IN ACOUSTECH ("PROPOSED ACQUISITION") |
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On behalf of the Board of Directors of Acoustech, UOB Kay Hian Securities (M) Sdn Bhd wishes to announce that Teras Eco had on 5 November 2018 entered into a Development Rights Agreement with Jaya Mapan (“Master Developer” and “Land Owner”) for the acquisition of the development rights and interest in a block of 44-storey of service apartments comprising of 306 units located in Kota Laksamana, Melaka including all pre-existing structures constructed thereon (“Project”) (“Development Rights”), for a purchase consideration of RM18.0 million.
Further details on the Proposed Acquisition are set out in the attachment below.
This announcement is dated 5 November 2018. |
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Please refer attachment below.
Announcement Info
| Company Name | ACOUSTECH BERHAD |
| Stock Name | ACOSTEC |
| Date Announced | 05 Nov 2018 |
| Category | General Announcement for PLC |
| Reference Number | GA1-05112018-00060 |