TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS UEM SUNRISE BERHAD ("UEMS" OR "COMPANY") PROPOSED ARRANGEMENT FOR THE 40% EQUITY STAKE HELD BY UEM LAND BERHAD ("UEM LAND"), A WHOLLY OWNED SUBSIDIARY OF UEMS IN AURA MUHIBAH SDN BHD ("AMSB") TO KLK LAND SDN BHD ("KLKL"), A WHOLLY OWNED SUBSIDIARY OF KUALA LUMPUR KEPONG BERHAD ("KLK") FOR THE JOINT DEVELOPMENT OF LANDS MEASURING 2,500 ACRES IN MUKIM SENAI, KULAI, JOHOR
| UEM SUNRISE BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | UEM SUNRISE BERHAD ("UEMS" OR "COMPANY")
PROPOSED ARRANGEMENT FOR THE 40% EQUITY STAKE HELD BY UEM LAND BERHAD ("UEM LAND"), A WHOLLY OWNED SUBSIDIARY OF UEMS IN AURA MUHIBAH SDN BHD ("AMSB") TO KLK LAND SDN BHD ("KLKL"), A WHOLLY OWNED SUBSIDIARY OF KUALA LUMPUR KEPONG BERHAD ("KLK") FOR THE JOINT DEVELOPMENT OF LANDS MEASURING 2,500 ACRES IN MUKIM SENAI, KULAI, JOHOR |
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Reference is made to our announcement dated 18 June 2024 (“Announcement”) in relation to the disposal of 100,000 ordinary shares and 353,600,000 redeemable non-convertible non-cumulative preference shares, representing UEM Land’s 40% equity interest in AMSB, to KLKL for a Total Consideration of RM386,201,719. Unless otherwise defined, the definitions set out in the Announcement shall apply herein.
The Company wishes to announce that the Proposed Arrangement has been completed on 28 June 2024 with full settlement of the remaining 90% of the Total Consideration, in accordance with the terms and conditions of the SSA as well as the 2nd Deed, both dated 18 June 2024. Subsequent thereto, AMSB ceased to be an associate company of UEMS.
This announcement is dated 28 June 2024. |
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Announcement Info
| Company Name | UEM SUNRISE BERHAD |
| Stock Name | UEMS |
| Date Announced | 28 Jun 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-28062024-00025 |