(For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcement dated 26 April 2021 in relation to the Proposed Disposals and Tenancies.)

Reference is made to the earlier announcements dated 26 April 2021, 26 July 2021, 29 July 2021 and 16 August 2021.

On behalf of the Board, TA Securities wishes to announce that on even date:

(i)         the Vendor 1 and the Purchaser had entered into a supplemental agreement in respect of Lot 2 SPA (“Lot 2 Supplemental Agreement”); and

(ii)         the Vendor 2 and the Purchaser had entered into a supplemental agreement in respect of Lot 13 and Lot 14 SPA (“Lot 13 and Lot 14 Supplemental Agreement”),

to facilitate the completion of Lot 2 SPA and Lot 13 and Lot 14 SPA respectively and the release of the Balance for Lot 2 and the Balance for Lot 13 and Lot 14, in view that the presentation of the transfer for Lot 2, Lot 13 and Lot 14 remains pending due to the standard operating procedure introduced by the land registry which takes effect during the COVID-19 pandemic period.

(collectively, the Lot 2 Supplemental Agreement and the Lot 13 and Lot 14 Supplemental Agreement are referred as the “Supplemental Agreements”)

The salient terms of the Supplemental Agreements are as follows:

(a)        That instead of the Balance for Lot 2 and the Balance for Lot 13 and Lot 14 (collectively referred to as the “Balances”), being paid by the Purchaser on or before the expiry of the Completion Period of Lot 2 SPA and the Completion Period of Lot 13 and Lot 14 SPA or the extended Completion Period of Lot 2 SPA and Lot 13 and Lot 14 SPA (collectively referred to as the “Completion Periods”), as the case may be, to solicitors as stakeholders to hold and deal with pending presentation of the memorandum of transfer for Lot 2, Lot 13 and Lot 14, the Balances shall be paid by the Purchaser to the Vendor 1 and the Vendor 2 respectively on or before expiry of the respective Completion Periods, subject to:

(i)         the transfer documents of Lot 2, Lot 13 and Lot 14 having been delivered to the Purchaser or its solicitors and land search results conducted in respect of Lot 2, Lot 13 and Lot 14 indicating that Lot 2, Lot 13 and Lot 14 are free from encumbrances; and

(ii)         the Vendor 1 and the Vendor 2 having granted a power of attorney in favour of the Purchaser to enable the Purchaser to deal with Lot 2, Lot 13 and Lot 14, on behalf of the Vendor 1 and the Vendor 2 respectively pending the registration of transfer of Lot 2, Lot 13 and Lot 14.

(b)        Upon payment of the Balances, the Purchaser shall be the sole beneficial owner of Lot 2, Lot 13 and Lot 14, and the Vendor 1 and the Vendor 2 shall hold all rights, title and interest in Lot 2, Lot 13 and Lot 14 respectively on trust as bare trustee for the Purchaser. The Vendor 1 and the Vendor 2 shall carry out and comply with all of the Purchaser’s instructions and requirements in respect of the dealings with the legal titles to Lot 2, Lot 13 and Lot 14, pending registration of the transfer of Lot 2, Lot 13 and Lot 14.

The Vendor 1 and the Vendor 2 had on even date received the Balance for Lot 2 and Balance for Lot 13 and Lot 14 respectively from the Purchaser, which marks the completion of the Proposed Disposals.

The Supplemental Agreements are available for inspection at CFM’s registered office at Lot 2, Jalan Usahawan 5, PKNS Setapak Industrial Area, Off Jalan Genting Kelang, 53300 Kuala Lumpur during normal business hours from Mondays to Fridays (except public holidays) for a period of 3 months from the date of this announcement.

This announcement is dated 15 September 2021.