TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS GADANG HOLDINGS BERHAD ("GADANG" OR THE "COMPANY") PROPOSED ACQUISITION OF 21.08 ACRES OF FREEHOLD LAND IDENTIFIED AS PLOT R3-1 IN KWASA DAMANSARA ("SUBJECT LAND") BY ELEGANCE SONATA SDN BHD, AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF GADANG, FROM KWASA DEVELOPMENT (3) SDN BHD FOR A PURCHASE PRICE OF RM114,780,600 ("PROPOSED ACQUISITION")
| GADANG HOLDINGS BHD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | GADANG HOLDINGS BERHAD ("GADANG" OR THE "COMPANY") PROPOSED ACQUISITION OF 21.08 ACRES OF FREEHOLD LAND IDENTIFIED AS PLOT R3-1 IN KWASA DAMANSARA ("SUBJECT LAND") BY ELEGANCE SONATA SDN BHD, AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF GADANG, FROM KWASA DEVELOPMENT (3) SDN BHD FOR A PURCHASE PRICE OF RM114,780,600 ("PROPOSED ACQUISITION") |
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Unless otherwise defined, the terms used in this announcement shall have the same meaning as those defined in the announcement dated 28 November 2023.
Reference is made to the announcement dated 28 November 2023 in relation to the Proposed Acquisition.
The Company wishes to announce that as of 31 March 2024, the Purchaser has yet to pay the Balance Purchase Price of RM38,382,632.76 to the Vendor, pending the outstanding EPU Approval. The Vendor has granted the Purchaser an extension of time of one (1) month to pay the Balance Purchase Price with a late payment interest of seven per cent (7%) per annum.
The Vendor has also extended the Conditional Period for another three (3) months to 31 May 2024.
Save for the aforementioned extensions, the other salient terms of the SPA remain unchanged.
Further developments to the Proposed Acquisition will be announced, as required, to Bursa Malaysia Securities Berhad in due course.
This announcement is dated 1 April 2024. |
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Announcement Info
| Company Name | GADANG HOLDINGS BHD |
| Stock Name | GADANG |
| Date Announced | 01 Apr 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-01042024-00030 |