TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS FM GLOBAL LOGISTICS HOLDINGS BERHAD (FORMERLY KNOWN AS FREIGHT MANAGEMENT HOLDINGS BHD.) ("THE COMPANY") PROPOSED ACQUISITION OF TWO PARCELS OF CONTIGUOUS FREEHOLD VACANT INDUSTRIAL LAND MEASURING APPROXIMATELY 405,979.2 SQUARE FEET LOCATED IN MUKIM KAPAR, DEARAH KLANG, SELANGOR BY FM GLOBAL LOGISTICS (M) SDN. BHD. ("FMGLM"), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, FOR A TOTAL CASH CONSIDERATION OF RM56.837 MILLION (COLLECTIVELY REFERRED TO AS THE "PROPOSED ACQUISITIONS") - UPDATE
| FM GLOBAL LOGISTICS HOLDINGS BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | FM GLOBAL LOGISTICS HOLDINGS BERHAD (FORMERLY KNOWN AS FREIGHT MANAGEMENT HOLDINGS BHD.) ("THE COMPANY")
PROPOSED ACQUISITION OF TWO PARCELS OF CONTIGUOUS FREEHOLD VACANT INDUSTRIAL LAND MEASURING APPROXIMATELY 405,979.2 SQUARE FEET LOCATED IN MUKIM KAPAR, DEARAH KLANG, SELANGOR BY FM GLOBAL LOGISTICS (M) SDN. BHD. ("FMGLM"), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, FOR A TOTAL CASH CONSIDERATION OF RM56.837 MILLION (COLLECTIVELY REFERRED TO AS THE "PROPOSED ACQUISITIONS") - UPDATE |
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Reference is made to the announcement dated 2 August 2021. Unless otherwise stated, defined terms used in this announcement shall have the same meanings as those used in the aforementioned announcement. The Board of Directors of the Company wishes to announce that the condition precedent set out in the SPA has not been fulfilled within the stipulated timeline, the SPA had been terminated and the Deposit and 1st Balance has on 30 June 2022 been refunded to FMGLM while the private caveat that lodged over the Properties had been withdrawn effective 29 June 2022. As a result of the above, FMGLM will no longer be pursuing the Proposed Acquisitions. Further, there will not be any impact to the operation of the Group arising from the termination of the SPA. This announcement is dated 30 June 2022. |
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Announcement Info
| Company Name | FM GLOBAL LOGISTICS HOLDINGS BERHAD |
| Stock Name | FM |
| Date Announced | 30 Jun 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-01062022-00034 |