TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS TROPICANA CORPORATION BERHAD ("TROPICANA" OR "THE COMPANY") PROPOSED DISPOSAL OF A HOTEL KNOWN AS W KUALA LUMPUR AND ITS ASSETS ("W KL") BY TROPICANA RESIDENCES SDN BHD ("TRSB" OR "VENDOR"), A WHOLLY-OWNED SUBSIDIARY OF TROPICANA ("PROPOSED DISPOSAL")
| TROPICANA CORPORATION BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | TROPICANA CORPORATION BERHAD ("TROPICANA" OR "THE COMPANY")
PROPOSED DISPOSAL OF A HOTEL KNOWN AS W KUALA LUMPUR AND ITS ASSETS ("W KL") BY TROPICANA RESIDENCES SDN BHD ("TRSB" OR "VENDOR"), A WHOLLY-OWNED SUBSIDIARY OF TROPICANA ("PROPOSED DISPOSAL") |
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The Board of Directors of Tropicana (“Board”) wishes to announce that TRSB, a wholly-owned subsidiary of Tropicana, had on 6 December 2023 entered into a sale and purchase agreement with IOI PFCC Hotel Sdn Bhd (“IOI PFCC”) and Flora Development Sdn Bhd (“Flora Development”) in relation to the Proposed Disposal (“SPA”), for a total cash consideration of RM270,000,000 (“Disposal Consideration”).
Details of the Proposed Disposal is in the attached file.
This announcement is dated 6 December 2023. |
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Please refer attachment below.
Announcement Info
| Company Name | TROPICANA CORPORATION BERHAD |
| Stock Name | TROP |
| Date Announced | 06 Dec 2023 |
| Category | General Announcement for PLC |
| Reference Number | GA1-06122023-00068 |