OTHERS AEON CO. (M) BHD. (AEON OR COMPANY) - Abort the Sale and Purchase Agreement ("SPA") with Asia Plywood Company Sdn Bhd ("Vendor")
|AEON CO. (M) BHD|
AEON CO. (M) BHD. (AEON OR COMPANY) - Abort the Sale and Purchase Agreement ("SPA") with Asia Plywood Company Sdn Bhd ("Vendor")
Reference is made to the Company’s announcement on 3 June 2011 in relation to the SPA dated 3 June 2011 in respect of the acquisition of a piece of freehold land measuring in area of approximately 8.162 hectares or 20.168 acres or 878,518.08 square feet (hereinafter referred to as “the Sale Property”) which is held under GRN 181086, Lot No. 2834 Seksyen 47, Bandar Sungai Petani, Daerah Kuala Muda, Negeri Kedah, at a purchase price of Ringgit Malaysia Thirty Six Million Nineteen Thousand Two Hundred Forty One and Sen Twenty Eight (RM 36,019,241.28) Only for the purpose of constructing a shopping centre thereon and operating the business of shopping centres and departmental store cum supermarkets upon completion of the construction of the shopping center.
The Board of Directors of AEON wishes to announce that the SPA dated 3 June 2011 pertaining to the acquisition of the Sale Property has been aborted on 29 April 2016, due to the non fulfilment of the Conditions Precedents within the extended conditional period. The Company will seek the refund of the Earnest Deposit, Balance Deposit and the First Payment totalling of Six Million Four Hundred Eighty Three Thousand Four Hundred Sixty Three and Sen Forty Two (RM6,483,463.42) Only from the Vendor.
The above transaction is not expected to have any financial impact to the Company.
This announcement is dated 29 April 2016.
|Company Name||AEON CO. (M) BHD|
|Date Announced||29 Apr 2016|
|Category||General Announcement for PLC|