Bursa Announcements

Date : 12 July 2016

OTHERS AEON CO. (M) BHD. ("AEON" OR "THE COMPANY") - Sale and Purchase Agreement ("SPA") with Ireka Engineering & Construction Sdn. Bhd. ("Vendor")

AEON CO. (M) BHD

Type Announcement
Subject OTHERS
Description
AEON CO. (M) BHD. ("AEON" OR "THE COMPANY")
- Sale and Purchase Agreement ("SPA") with Ireka Engineering & Construction Sdn. Bhd. ("Vendor")

Reference is made to the Company’s announcement on 26 December 2014 in relation to the SPA dated 26 December 2014 in respect of the acquisition of a piece of freehold land held under H.S.(D) 64701, Lot PT 10334, Pekan Senawang, Daerah Seremban, Negeri Sembilan (“Property”) at a purchase price of Ringgit Malaysia Fifty Three Million Six Hundred and Sixty Two Thousand Four Hundred Thirty Five and Sen Twenty (RM53,662,435.20) Only for the purpose of constructing and operating a shopping centre with car parks and departmental stores cum supermarket (“Complex”) in accordance with all the terms and conditions as stipulated in the SPA (“Acquisition”).

The Board of Directors of AEON wishes to announce that the Company will not proceed with the Acquisition of the Property and the SPA will be deemed terminated on 12 July 2016, due to the non-fulfillment of the conditions precedent by both parties within the extended conditions precedent period.

The Company will seek the refund of the earnest deposit and the balance deposit totalling of Ringgit Malaysia Five Million Three Hundred Sixty Six Thousand Two Hundred Forty Three and Sen Fifty Two (RM5,366,243.52) only from the Vendor.

The above is not expected to have any material financial impact to the Company for the financial year ending 31 December 2016.

This announcement is dated 12 July 2016.






Announcement Info

Company Name AEON CO. (M) BHD
Stock Name AEON
Date Announced 12 Jul 2016
Category General Announcement for PLC
Reference Number GA1-11072016-00076


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