Reference is made to our announcements (“Announcements”) dated 7 February 2014, 9 July 2014, 24 July 2014, 5 December 2014 and 30 December 2015 in relation to the development of various parcels of freehold lands measuring 2,500 acres in Kulai, Johor (“Kulai Lands”) by AMSB and announcements dated 23 October 2020, 22 February 2021, 21 May 2021, 8 June 2021 and 18 June 2021 in relation to the disposal of 50,000 ordinary shares and 180 million redeemable non-convertible non-cumulative preference shares (“RPS”) held by UEM Land in AMSB representing UEM Land’s 20% equity in AMSB to KLKL for a total consideration of RM182.6 million. Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

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

1. Share Sale Agreement (“SSA”) with KLKL for the disposal of 100,000 ordinary shares and 353,600,000 RPS (“Sale Shares”), representing UEM Land’s 40% equity in AMSB, to KLKL for a total consideration of RM386,201,719 (“Total Consideration”) following the exercise of the call option over the Sale Shares by KLKL (“Proposed Disposal”); and
2. Second Deed of Rescission and Mutual Release with KLKL and AMSB (“2nd Deed”) for the termination of the Shareholders’ Agreement dated 23 October 2020 (“2nd SHA”)  upon the completion of the SSA.

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

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

This announcement is dated 18 June 2024.