NADAYU

(%)

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS NADAYU PROPERTIES BERHAD (“COMPANY”) (I) PROPOSED DISPOSAL OF PROJECT LANDS BY PEMBANGUNAN BANDAR MUTIARA SDN BHD (“PBM”), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, TO PALMINGTON SDN BHD (“PALMINGTON”) FOR A TOTAL DISPOSAL CONSIDERATION OF RM233,223,021 TO BE SATISFIED IN CASH (“PROPOSED DISPOSAL”); AND (II) PROPOSED PROVISION OF FINANCIAL ASSISTANCE TO PALMINGTON OF APPROXIMATELY RM98,800,000 BY WAY OF ADVANCES TO PALMINGTON AND A CORPORATE GUARANTEE IN RESPECT OF PALMINGTON’S BANKING FACILITIES TO BE OBTAINED PURSUANT TO THE PROPOSED DISPOSAL (I AND II ARE COLLECTIVELY REFERRED TO AS “PROPOSALS”)

NADAYU PROPERTIES BERHAD

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
DescriptionNADAYU PROPERTIES BERHAD (“COMPANY”)
(I) PROPOSED DISPOSAL OF PROJECT LANDS BY PEMBANGUNAN BANDAR MUTIARA SDN BHD (“PBM”), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, TO PALMINGTON SDN BHD (“PALMINGTON”) FOR A TOTAL DISPOSAL CONSIDERATION OF RM233,223,021 TO BE SATISFIED IN CASH (“PROPOSED DISPOSAL”); AND
(II) PROPOSED PROVISION OF FINANCIAL ASSISTANCE TO PALMINGTON OF APPROXIMATELY RM98,800,000 BY WAY OF ADVANCES TO PALMINGTON AND A CORPORATE GUARANTEE IN RESPECT OF PALMINGTON’S BANKING FACILITIES TO BE OBTAINED PURSUANT TO THE PROPOSED DISPOSAL
(I AND II ARE COLLECTIVELY REFERRED TO AS “PROPOSALS”)


Announcement Info

Company NameNADAYU PROPERTIES BERHAD  
Stock Name NADAYU    
Date Announced23 Jan 2014  
CategoryGeneral Announcement
Reference NoCK-140121-43826