SEM

2.000

(%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS 7-ELEVEN MALAYSIA HOLDINGS BERHAD ("SEM" OR THE "COMPANY") PROPOSED DISPOSAL BY CONVENIENCE SHOPPING (SABAH) SDN BHD ("CSSSB"), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, OF ITS ENTIRE 75% EQUITY INTEREST IN CARING PHARMACY GROUP BERHAD ("CARING") TO BIG PHARMACY HOLDINGS SDN BHD ("BIG PHARMACY" OR "PURCHASER") FOR A CASH CONSIDERATION OF RM675.0 MILLION ("PROPOSED DISPOSAL")

7-ELEVEN MALAYSIA HOLDINGS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
7-ELEVEN MALAYSIA HOLDINGS BERHAD ("SEM" OR THE "COMPANY")

PROPOSED DISPOSAL BY CONVENIENCE SHOPPING (SABAH) SDN BHD ("CSSSB"), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, OF ITS ENTIRE 75% EQUITY INTEREST IN CARING PHARMACY GROUP BERHAD ("CARING") TO BIG PHARMACY HOLDINGS SDN BHD ("BIG PHARMACY" OR "PURCHASER") FOR A CASH CONSIDERATION OF RM675.0 MILLION ("PROPOSED DISPOSAL")

We refer to the Company's announcement dated 21 July 2023 in relation to the Proposed Disposal. Unless otherwise stated, the abbreviations used herein shall have the same meaning as the said announcement.

 

On behalf of the Board, RHB Investment Bank wishes to announce that CSSSB, had on 21 September 2023 entered into a conditional sale and purchase agreement with BIG Pharmacy and Motivasi Optima Sdn Bhd ("MOSB"), who holds 25% equity interest in Caring, for the following:

 

(a) the Proposed Disposal which entails the disposal by CSSSB of its entire 75% equity interest in Caring to BIG Pharmacy for a cash consideration of RM675.0 million; and

 

(b) the proposed disposal by MOSB of its entire 25% equity interest in Caring to BIG Pharmacy ("Proposed MOSB Disposal").

 

For the avoidance of doubt, the Proposed MOSB Disposal shall not form part of the Company’s corporate exercise.

 

Further details of the Proposed Disposal are set out in the attachment below.

 

 

This announcement is dated 21 September 2023




Please refer attachment below.



Announcement Info

Company Name 7-ELEVEN MALAYSIA HOLDINGS BERHAD
Stock Name SEM
Date Announced 21 Sep 2023
Category General Announcement for PLC
Reference Number GA1-21092023-00034