MEDIA

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OTHERS MEDIA PRIMA BERHAD ("MPB" OR THE "COMPANY") PROPOSED DISPOSAL

MEDIA PRIMA BERHAD

Type Announcement
Subject OTHERS
Description
MEDIA PRIMA BERHAD ("MPB" OR THE "COMPANY")

PROPOSED DISPOSAL

Further to the announcement dated 15 July 2021 (“Announcement”) in relation to the Proposed Disposal, MPB wishes to provide the following additional information :-

 

(Unless otherwise defined, the abbreviations used throughout this announcement are the same as those previously defined in the Announcement).

 

 

1. Page 3 on the Market Value of RM25,000,000.00 as assessed by Jones Lang Wootton as set out in their Valuation Report dated 6th November 2019.

 

As set out in Section 2.1 of the Announcement, the market value of RM25,000,000.00 for the Subject Property is as assessed by Jones Lang Wootton as set out in their Valuation Report dated 6th November 2019. There is no other / updated valuation report that the Company relies on for the Proposed Disposal.

 

As set out in Section 9 of the Announcement, the Board, having considered all aspects of the Proposed Disposal, including the rationale for the Proposed Disposal but not limited to the rationale and financial effects of the Proposed Disposal, the salient term of the SPA, the basis and justification of arriving at the Disposal Consideration, is of the view that the Proposed Disposal is in the best interest of the Company and the terms and conditions of the SPA are fair and reasonable.

 

 

2. Page 8 Section 3.2 (a)

 

The estimated costs and expenses in relation to the Rectification Works is RM60,000.00.

 

 

3. Page 9 Section 3.4 - Liabilities to be remained with AFES

 

The subject for Section 3.4 of the Announcement should read as “Liabilities to be remained with NST Properties”.

 

As set out in Section 3.4 of the Announcement, there are no liabilities, including contingent liabilities and guarantees, expected to be remained with AFES arising from the Proposed Disposal.

 

 

4. Page 9, Section 4 - the Rationale and Justification for the Proposal

 

The Subject Property has been partially used for the Group’s own operations for the purpose of storage of newsprint inventory.

 

The Proposed Disposal would have no impact on the company’s current operations.

 

 

 

This announcement is dated 16 July 2021.






Announcement Info

Company Name MEDIA PRIMA BERHAD
Stock Name MEDIA
Date Announced 16 Jul 2021
Category General Announcement for PLC
Reference Number GA1-16072021-00050