TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS BOILERMECH HOLDINGS BERHAD ("BOILERMECH" OR "THE COMPANY") COMPLETION OF PROPOSED ACQUISITION OF VACANT INDUSTRIAL LAND LOCATED AT JALAN RAYA MANYAR KM.25, SUKOMULYO, MANYAR, GRESIK, EAST JAVA, INDONESIA BY PT BOILERMECH MANUFACTURING INDONESIA ("PTBMI"), WHICH IS WHOLLY-OWNED BY BOILERMECH AND ITS SUBSIDIARY PT BOILERMECH, FROM PT MASPION INDUSTRIAL ESTATE ("PT MASPION")
BOILERMECH HOLDINGS BERHAD |
Type | Announcement |
Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
Description | BOILERMECH HOLDINGS BERHAD ("BOILERMECH" OR "THE COMPANY") COMPLETION OF PROPOSED ACQUISITION OF VACANT INDUSTRIAL LAND LOCATED AT JALAN RAYA MANYAR KM.25, SUKOMULYO, MANYAR, GRESIK, EAST JAVA, INDONESIA BY PT BOILERMECH MANUFACTURING INDONESIA ("PTBMI"), WHICH IS WHOLLY-OWNED BY BOILERMECH AND ITS SUBSIDIARY PT BOILERMECH, FROM PT MASPION INDUSTRIAL ESTATE ("PT MASPION") |
The terms used herein shall, unless the context otherwise states, bear the same meaning as those defined in the announcements dated 15 July 2019 and 23 April 2019, where applicable.
We refer to the announcements made by the Company on 15 July 2019 and 23 April 2019 in relation to the Proposed Acquisition of 2 adjoining plots of land held under Land Titles SHGB 178/Manyarsidomukti and SHGB 164/Manyarsidomukti located at Jalan Raya Manyar Km. 25, Sukomulyo, Manyar, Gresik, East Java, Indonesia by PTBMI from PT Maspion ("Proposed Acquisition”).
The Board of Directors of Boilermech is pleased to announce that all the conditions precedent in respect of the Proposed Acquisition have been fulfilled. PTBMI and PT Maspion have on 18 July 2019 signed the Akta Jual Beli Tanah (“AJB”) in the presence of an Authorized Land Deed Official, for the transfer and registration of the aforesaid lands in PTBMI’s name and PTBMI has on even date paid in full the balance 80% of the Purchase Price amounting to IDR39,360,420,000 (approximately RM11,611,324*). Hence, the Proposed Acquisition is deemed completed on 18 July 2019.
* Amount in RM is based on the exchange rate of IDR1:RM0.000295 on 18 July 2019 as set out in Bank Negara Malaysia’s website.
This announcement is dated 18 July 2019 |
Announcement Info
Company Name | BOILERMECH HOLDINGS BERHAD |
Stock Name | BOILERM |
Date Announced | 18 Jul 2019 |
Category | General Announcement for PLC |
Reference Number | GA1-18072019-00069 |