MULTIPLE PROPOSALS YONG TAI BERHAD (“YTB” OR THE “COMPANY”) I. PROPOSED DISPOSAL OF A FIVE-STAR HOTEL KNOWN AS COURTYARD BY MARRIOTT MELAKA BY APPLE 99 DEVELOPMENT SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF YTB, TO SOUTHERN ENVOY SDN BHD FOR A CASH CONSIDERATION OF RM160,000,000 (“PROPOSED DISPOSAL”); AND II. PROPOSED PRIVATE PLACEMENT OF UP TO 30.00% OF THE TOTAL NUMBER OF ISSUED ORDINARY SHARES IN YTB. (“PROPOSED PRIVATE PLACEMENT”) (COLLECTIVELY, THE “PROPOSALS”)
| YONG TAI BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | YONG TAI BERHAD (“YTB” OR THE “COMPANY”) I. PROPOSED DISPOSAL OF A FIVE-STAR HOTEL KNOWN AS COURTYARD BY MARRIOTT MELAKA BY APPLE 99 DEVELOPMENT SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF YTB, TO SOUTHERN ENVOY SDN BHD FOR A CASH CONSIDERATION OF RM160,000,000 (“PROPOSED DISPOSAL”); AND II. PROPOSED PRIVATE PLACEMENT OF UP TO 30.00% OF THE TOTAL NUMBER OF ISSUED ORDINARY SHARES IN YTB. (“PROPOSED PRIVATE PLACEMENT”) (COLLECTIVELY, THE “PROPOSALS”) |
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Reference is made to the announcement dated 31 July 2024, 2 August 2024, 11 September 2024, 25 September 2024, 7 October 2024, 29 October 2024 and 20 February 2025 in relation to the Proposals ("Announcements”).
Further to the approval from Bursa Securities for the extension of time up of 6 months from 4 October 2024 to 29 March 2025 to issue circular to the shareholders in relation to the Proposals (“EOT Approval”), the Company is required to submit the draft Circular in relation to the Proposals on or before 29 March 2025.
The Company has submitted the draft circular and additional listing application in relation to the Proposed Private Placement on 20 February 2025. However, the Company has yet to submit the draft circular in relation to the Proposed Disposal as at the date of this announcement.
On behalf of the Company, M & A Securities wishes to announce that it had on 11 March 2025 submitted an application for further extension of time of 9 months up to 28 December 2025 to submit the draft Circular in relation to the Proposed Disposal to Bursa Securities.
Further announcement will be made to Bursa Securities with regards to the development of the Proposals in due course.
The announcement is dated 11 March 2025. |
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Announcement Info
| Company Name | YONG TAI BERHAD |
| Stock Name | YONGTAI |
| Date Announced | 11 Mar 2025 |
| Category | General Announcement for PLC |
| Reference Number | GA1-11032025-00026 |