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Bursa Announcements

Date : 11 November 2011

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS TH PLANTATIONS BERHAD (“THP” OR “THE COMPANY”) (I) PROPOSED ACQUISITION BY THP OF 70% EQUITY STAKE IN HYDROFLOW SDN. BHD. (II) PROPOSED ACQUISITION BY THP OF 93% EQUITY STAKE IN PT PERSADA KENCANA PRIMA

TH PLANTATIONS BERHAD

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
DescriptionTH PLANTATIONS BERHAD (“THP” OR “THE COMPANY”)
(I) PROPOSED ACQUISITION BY THP OF 70% EQUITY STAKE IN HYDROFLOW SDN. BHD.
(II) PROPOSED ACQUISITION BY THP OF 93% EQUITY STAKE IN PT PERSADA KENCANA PRIMA
The Board of Directors of THP is pleased to announce that the Company had, on 11 November 2011, entered into two (2) separate conditional agreements as follows:
i) A Conditional Sale and Purchase of Shares Agreement with Sawit Green Plantation Sdn. Bhd. (Company No.: 574859-X) (“Sawit Green”) to acquire 3,500,000 ordinary shares of RM1.00 each held by Sawit Green in the share capital of Hydroflow Sdn. Bhd. (Company No.: 247949-D) (“Hydroflow”), representing 70% of the issued and paid-up share capital of Hydroflow, for the total purchase consideration of RM73,500,000 ; and

ii) A Conditional Sale and Purchase of Shares Agreement with Indonesian citizens namely Drs. H. Rajasa Abdurachman and Ir. Badai Sakti Daniel (collectively referred to as the “Sellers”), to acquire 5,580,000 shares of Rp1,000 each held collectively by the Sellers in the share capital of PT Persada Kencana Prima (“PKP”), representing 93% of the total issued and fully paid-up share capital of PKP, for the total purchase consideration of Rp46,211,960,000.

Please refer to the attachment for further details of the above proposed acquisitions.

This announcement is dated 11 November 2011.


Announcement Info

Company NameTH PLANTATIONS BERHAD  
Stock Name THPLANT    
Date Announced11 Nov 2011  
CategoryGeneral Announcement
Reference NoTP-111111-64464
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