TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS LATITUDE TREE HOLDINGS BERHAD (LATTREE OR COMPANY) - PROPOSED ACQUISITION OF THE REMAINING 15% OF THE EQUITY INTEREST THAT IT DOES NOT CURRENTLY OWN IN AN EXISTING SUBSIDIARY COMPANY
| LATITUDE TREE HOLDINGS BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description | LATITUDE TREE HOLDINGS BERHAD (LATTREE OR COMPANY) - PROPOSED ACQUISITION OF THE REMAINING 15% OF THE EQUITY INTEREST THAT IT DOES NOT CURRENTLY OWN IN AN EXISTING SUBSIDIARY COMPANY |
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The Board of Directors of LatTree wishes to announce that Grob Holz Sdn Bhd, a wholly-owned subsidiary company of LatTree, had on 23 February 2016 entered into a conditional sale and purchase agreement with Konsortium Kontrek Sdn Bhd to acquire the remaining 15% of the equity interest that it does not currently own in Grob Holz Company Limited for a cash consideration of RM2,525,000.00 (“Proposed Acquisition”). Due to the interest of a major shareholder as disclosed in this announcement, the Proposed Acquisition is a related party transaction.
Please refer to the attachment for details of the announcement.
This announcement is dated 23 February 2016. |
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Please refer attachment below.
Announcement Info
| Company Name | LATITUDE TREE HOLDINGS BERHAD |
| Stock Name | LATITUD |
| Date Announced | 23 Feb 2016 |
| Category | General Announcement for PLC |
| Reference Number | GA1-23022016-00076 |
