TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS AEON CO. (M) BHD ("AEON" OR "COMPANY") - Termination of the Sale and Purchase Agreement (SPA) with Genting Property Sdn. Bhd. (Vendor)
Please refer to the earlier announcement reference number: GA1-03042017-00010
|AEON CO. (M) BHD|
|Subject||TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
AEON CO. (M) BHD ("AEON" OR "COMPANY") - Termination of the Sale and Purchase Agreement (SPA) with Genting Property Sdn. Bhd. (Vendor)
Reference is made to the Company’s announcement on 10 July 2014 in relation to the SPA dated 10 July 2014 in respect of the acquisition of a piece of freehold land held under H.S.(D) 61139, PTD 52836, Mukim Simpang Kanan, Daerah Batu Pahat, Negeri Johor, measuring in area of approximately 20 acres or approximately 871,200 square feet, all of which are situated in Mukim Simpang Kanan, Daerah Batu Pahat, Negeri Johor (hereinafter referred to as “the Land”) at a purchase price of Ringgit Malaysia Thirty Four Million Eight Hundred and Forty Eight Thousand (RM34,848,000.00) for the purpose of constructing a shopping centre thereon and operating the business of shopping centre with car parks and departmental store cum supermarkets upon completion of the construction of the shopping centre.
The Board of Directors of AEON wishes to announce that the SPA dated 10 July 2014 in respect of the acquisition of the Sale Property has been terminated on 5 April 2017, due to the non-fulfilment of the Condition Precedents within the conditional period and both parties could not reach an agreement to further extend the conditional period. The Company will seek the refund of the Earnest Deposit, Balance Deposit, First and Second Payment totaling of Ringgit Malaysia Thirteen Million Nine Hundred Thirty Nine Thousand Two Hundred (RM13,939,200.00) Only from the Vendor pursuant to the terms and conditions of the SPA.
The above transaction is not expected to have any material financial impact to the Company.
This announcement is dated 5 April 2017.
|Company Name||AEON CO. (M) BHD|
|Date Announced||05 Apr 2017|
|Category||General Announcement for PLC|