GCB

2.510

+0.01 (+0.4%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS GUAN CHONG BERHAD ACQUISITION OF FREEHOLD PROPERTY BY GCB COCOA UK LIMITED, A WHOLLY-OWNED SUBSIDIARY OF GCB OVERSEA HOLDINGS CORPORATION, WHICH IN TURN A WHOLLY-OWNED SUBSIDIARY OF GUAN CHONG BERHAD ("GCB" OR "THE COMPANY") FROM PHILIPS ELECTRONICS UK LIMITED

GUAN CHONG BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
GUAN CHONG BERHAD
ACQUISITION OF FREEHOLD PROPERTY BY GCB COCOA UK LIMITED, A WHOLLY-OWNED SUBSIDIARY OF GCB OVERSEA HOLDINGS CORPORATION, WHICH IN TURN A WHOLLY-OWNED SUBSIDIARY OF GUAN CHONG BERHAD ("GCB" OR "THE COMPANY") FROM PHILIPS ELECTRONICS UK LIMITED

We refer to our announcement dated 28 September 2020 (“Announcement”). Unless otherwise stated, the terms used throughout this announcement shall have the same meanings as defined in the Announcement.

 

The Board of Director of GCB wishes to announce the following additional information:

  1. The Acquisition Consideration of GBP 8,250,000 is equivalent to approximately RM 43,790,175 based on the Exchange Rate of GBP 1 = RM 5.3079 on 24 September 2020 as set out in the Bank Negara’s website.
  2. The Property is located at Lower Road, Glemsford, Suffolk with 17.76 acre of land and 300,126 sq feet of built up space. The site is strategically located close to the port of Felixstowe, which will allow convenient transportation of raw materials and cocoa-derived food ingredients. GCB aims to transform the existing factory into a value-added facility that manufactures liquid cocoa products and confectionery ingredients, subsequently supplying to major chocolate and confectionery manufacturers.

 

This announcement is dated 30 September 2020.






Announcement Info

Company Name GUAN CHONG BERHAD
Stock Name GCB
Date Announced 30 Sep 2020
Category General Announcement for PLC
Reference Number GA1-30092020-00031