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Date : 22 November 2012

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): RELATED PARTY TRANSACTIONS TH PLANTATIONS BERHAD (“THP” OR THE “COMPANY”) (I) PROPOSED ACQUISITIONS OF THE ENTIRE EQUITY INTEREST IN TH LADANG (SABAH & SARAWAK) SDN BHD AND 70% EQUITY INTEREST IN TH BAKTI SDN BHD FOR AN AGGREGATE PURCHASE CONSIDERATION OF RM535,640,000 (“PROPOSED ACQUISITIONS”); (II) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL OF THP FROM THE EXISTING RM350,000,000 COMPRISING 700,000,000 ORDINARY SHARES OF RM0.50 EACH IN THP (“THP SHARES”) TO RM500,000,000 COMPRISING 1,000,000,000 THP SHARES (“PROPOSED IASC”); AND (III) PROPOSED AMENDMENT TO THE MEMORANDUM OF ASSOCIATION OF THP (“PROPOSED AMENDMENT”). (THE PROPOSED ACQUISITIONS, PROPOSED IASC AND PROPOSED AMENDMENT ARE HEREINAFTER COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)

TH PLANTATIONS BERHAD

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
DescriptionTH PLANTATIONS BERHAD (“THP” OR THE “COMPANY”)

(I) PROPOSED ACQUISITIONS OF THE ENTIRE EQUITY INTEREST IN TH LADANG (SABAH & SARAWAK) SDN BHD AND 70% EQUITY INTEREST IN TH BAKTI SDN BHD FOR AN AGGREGATE PURCHASE CONSIDERATION OF RM535,640,000 (“PROPOSED ACQUISITIONS”);

(II) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL OF THP FROM THE EXISTING RM350,000,000 COMPRISING 700,000,000 ORDINARY SHARES OF RM0.50 EACH IN THP (“THP SHARES”) TO RM500,000,000 COMPRISING 1,000,000,000 THP SHARES (“PROPOSED IASC”); AND

(III) PROPOSED AMENDMENT TO THE MEMORANDUM OF ASSOCIATION OF THP (“PROPOSED AMENDMENT”).

(THE PROPOSED ACQUISITIONS, PROPOSED IASC AND PROPOSED AMENDMENT ARE HEREINAFTER COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)

We refer to the announcement dated 12 November 2012 in relation to the letter received from Pejabat Hasil Bumi, Jabatan Ketua Menteri Sabah (“Pejabat Hasil Bumi”) dated 12 November 2012 in relation to TH-Bonggaya Sdn Bhd (“Letter”) and earlier announcements on the Proposals.

Based on the clarifications sought by Lembaga Tabung Haji (“TH”) from Pejabat Hasil Bumi on the Letter, Pejabat Hasil Bumi has confirmed that pursuant to the Letter, its consent has been granted to TH-Bonggaya Sdn Bhd to act as the developer for Ladang Klagan, subject to the terms and conditions stated in the Sustainable Forest Management Licence Agreement No. 11/97 dated 2 September 1998.

Further, RHB Investment Bank Berhad, on behalf of the Board of Directors of THP, wishes to announce that the Novation Agreement between TH, Jasa Bakti (Sdn) Bhd and THP has been executed today for the novation of all the rights, responsibilities, obligations and liabilities of TH to THP.

Following the above, all the conditions precedent pursuant to the Proposals (as referred to in Section 2.5.1 of the circular to shareholders dated 20 October 2012) have been fulfilled on 22 November 2012 (“Unconditional Date”). In relation thereto and pursuant to the conditional share sale agreement dated 2 August 2012 entered into between TH and the Company, the completion shall take place within thirty (30) business days from the Unconditional Date or such other date as may be mutually agreed in writing between TH and the Company.

This announcement is dated 22 November 2012.



Announcement Info

Company NameTH PLANTATIONS BERHAD  
Stock Name THPLANT    
Date Announced22 Nov 2012  
CategoryGeneral Announcement
Reference NoMI-121122-41428
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