UEMS

1.170

+0.02 (+1.7%)

OTHERS UEM SUNRISE BERHAD ("UEM SUNRISE" OR THE "COMPANY") SHARE SALE AND PURCHASE AGREEMENT BETWEEN UEM SUNRISE AND ISKANDAR HARTA HOLDINGS SDN BHD ("IHH") IN RELATION TO THE DISPOSAL OF SIX PERCENT (6%) OF UEM SUNRISE'S EQUITY INTEREST IN NUSAJAYA LIFESTYLE SDN BHD ("NLSB"), THE JOINT VENTURE COMPANY UNDERTAKING THE MIXED DEVELOPMENT IN MEDINI, ISKANDAR PUTERI, JOHOR, TO IHH FOR A TOTAL CONSIDERATION OF RM8,923,045.00 RESULTING IN IHH BECOMING THE MAJORITY SHAREHOLDER OF NLSB

UEM SUNRISE BERHAD

Type Announcement
Subject OTHERS
Description
UEM SUNRISE BERHAD ("UEM SUNRISE" OR THE "COMPANY") 
SHARE SALE AND PURCHASE AGREEMENT BETWEEN UEM SUNRISE AND ISKANDAR HARTA HOLDINGS SDN BHD ("IHH") IN RELATION TO THE DISPOSAL OF SIX PERCENT (6%) OF UEM SUNRISE'S EQUITY INTEREST IN NUSAJAYA LIFESTYLE SDN BHD ("NLSB"), THE JOINT VENTURE COMPANY UNDERTAKING THE MIXED DEVELOPMENT IN MEDINI, ISKANDAR PUTERI, JOHOR, TO IHH FOR A TOTAL CONSIDERATION OF RM8,923,045.00 RESULTING IN IHH BECOMING THE MAJORITY SHAREHOLDER OF NLSB

Reference is made to the Company’s announcements dated 9 June 2011, 22 June 2011 and 10 March 2014 in relation to the Shareholders’ Agreement dated 9 June 2011 entered between UEM Sunrise, IHH and NLSB in connection with UEM Sunrise’s joint venture with IHH to undertake the proposed development of land in Medini, Iskandar Puteri, Johor Darul Takzim (“Medini Land”) as a mixed development predominantly in the retail segment via NLSB (“Shareholders’ Agreement”).

The Company wishes to announce that UEM Sunrise had today entered into a:

  1. Share Sale and Purchase Agreement (“SSPA”) with IHH and NLSB for the disposal of 600,000 ordinary shares and 13,276,667 redeemable preference shares (“RPS”) representing 6% equity interest in NLSB, by UEM Sunrise to IHH for a total consideration of RM8,923,045.00 (“Total Consideration”) (“Proposed Disposal”); and
  2. Supplemental Shareholders’ Agreement with IHH and NLSB (“Supplemental SHA”) to vary the terms following the changes in NLSB’s shareholding structure,

(collectively referred to as the “Proposed Arrangement”).

Please refer to the attachment for the details of the announcement.

This announcement is dated 20 October 2023.




Please refer attachment below.

Attachments

Sale of NLSB shares to IHH.pdf
116.1 kB



Announcement Info

Company Name UEM SUNRISE BERHAD
Stock Name UEMS
Date Announced 20 Oct 2023
Category General Announcement for PLC
Reference Number GA1-09102023-00079