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Date : 03 March 2020

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS TH PLANTATIONS BERHAD ("THP" OR "THE COMPANY") - PROPOSED DISPOSAL OF 70% EQUITY INTERESTS IN THP-YT PLANTATION SDN. BHD. ("THP-YT") BY THP TO TDM BERHAD ("PROPOSED DISPOSAL")

TH PLANTATIONS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
TH PLANTATIONS BERHAD ("THP" OR "THE COMPANY") -
PROPOSED DISPOSAL OF 70% EQUITY INTERESTS IN THP-YT PLANTATION SDN. BHD. ("THP-YT") BY THP TO TDM BERHAD ("PROPOSED DISPOSAL")

We refer to our announcements made on 31 December 2019 and 26 February 2020 in relation thereto.

 

The Company wishes to announce that on 3 March 2020, THP had entered into a Share Purchase Agreement ("SPA") with TDM Berhad ("TDM") to dispose 25,900,000 ordinary shares (equivalent to 70% equity interests) held by the Company in THP-YT  for a cash consideration of RM7,000,000.00 ("Sale Shares Consideration") ("Proposed Sale Shares"). 

 

As part of the Proposed Sale Shares, THP Suria Mekar Sdn. Bhd. (THPSM), a wholly-owned subsidiary of THP, THP-YT and TDM had executed a Settlement Agreement on 3 March 2020 (Settlement Agreement) to settle part of the inter-company advances of RM78,684,856.91 (Advances) owed by THP-YT to THPSM amounting to RM62,000,000.00 (Settlement Sum) (Proposed Settlement).

 

The Proposed Sale Shares and the Proposed Settlement are collectively referred to as the Proposed Disposal and the Sale Shares Consideration and the Settlement Sum are collectively known as the Disposal Consideration.

 

Please refer to the attachment for further details of the Proposed Disposal. 

 

This announcement is dated 3 March 2020.




Please refer attachment below.

Attachments

Proposed Disposal of THP-YT.pdf
214.4 kB



Announcement Info

Company Name TH PLANTATIONS BERHAD
Stock Name THPLANT
Date Announced 03 Mar 2020
Category General Announcement for PLC
Reference Number GA1-03032020-00043


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