TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS Malakoff Corporation Berhad ("MCB" or "Company") Proposed acquisition of the land held under title No. GRN 57532, Lot 16277, located in Mukim Pulau Sebang, Daerah Alor Gajah, Melaka measuring approximately 71.44 hectares ("Proposed Land Acquisition" or the "Proposal").
| MALAKOFF CORPORATION BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description | Malakoff Corporation Berhad ("MCB" or "Company")
Proposed acquisition of the land held under title No. GRN 57532, Lot 16277, located in Mukim Pulau Sebang, Daerah Alor Gajah, Melaka measuring approximately 71.44 hectares ("Proposed Land Acquisition" or the "Proposal"). |
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The Board of Directors of MCB wishes to announce that Malakoff R&D Sdn Bhd, a wholly-owned subsidiary of the Company, had on 22 September 2020 entered into a Sale and Purchase Agreement (“SPA”) with Eksklusif Pesona Sdn Bhd to acquire a plot of freehold land of approximately 71.44 hectares or 176.5 acres in size held under title No. GRN 57532, Lot 16277, located in Mukim Pulau Sebang, Daerah Alor Gajah, Melaka for a purchase consideration of Ringgit Malaysia One Hundred and Fifty Million (RM150,000,000.00) subject to any adjustment thereto in accordance with the terms of the SPA.
In view of the interests of certain directors and major shareholders of the Company, the Proposed Land Acquisition is deemed a related party transaction under Paragraph 10.08 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.
Please refer to the attachment for the full announcement in relation to the Proposal.
This announcement is dated 22 September 2020.
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Please refer attachment below.
Announcement Info
| Company Name | MALAKOFF CORPORATION BERHAD |
| Stock Name | MALAKOF |
| Date Announced | 22 Sep 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-21092020-00116 |