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Bursa Announcements

Date : 07 February 2020

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS WESTPORTS HOLDINGS BERHAD ("WHB" OR "COMPANY") PROPOSED ACQUISITION BY WESTPORTS MALAYSIA SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF WHB, OF A PARCEL OF LEASEHOLD LAND HELD UNDER PAJAKAN NEGERI (PN) 7374, LOT NO. 72778, MUKIM AND DISTRICT OF KLANG, STATE OF SELANGOR DARUL EHSAN MEASURING ABOUT 146.4 HECTARES (361.762 ACRES) FROM PEMBINAAN REDZAI SDN BHD FOR A TOTAL CASH CONSIDERATION OF RM393,958,900

WESTPORTS HOLDINGS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
WESTPORTS HOLDINGS BERHAD ("WHB" OR "COMPANY")

PROPOSED ACQUISITION BY WESTPORTS MALAYSIA SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF WHB, OF A PARCEL OF LEASEHOLD LAND HELD UNDER PAJAKAN NEGERI (PN) 7374, LOT NO. 72778, MUKIM AND DISTRICT OF KLANG, STATE OF SELANGOR DARUL EHSAN MEASURING ABOUT 146.4 HECTARES (361.762 ACRES) FROM PEMBINAAN REDZAI SDN BHD FOR A TOTAL CASH CONSIDERATION OF RM393,958,900

On behalf of the Company, CIMB Investment Bank Berhad wishes to announce that Westports Malaysia Sdn Bhd, a wholly-owned subsidiary of the Company, has, on 7 February 2020, entered into a conditional sale and purchase agreement with Pembinaan Redzai Sdn Bhd (PRSB) to acquire a parcel of leasehold land held under Pajakan Negeri (PN) 7374, Lot No. 72778, Mukim and District of Klang, State of Selangor Darul Ehsan measuring about 146.4 hectares (361.762 acres), from PRSB for a total cash consideration of RM393,958,900 (Proposed Acquisition).

 

In view of the interests of the directors and major shareholder of WHB in the Proposed Acquisition, the Proposed Acquisition is a related party transaction under Paragraph 10.08 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.

 

Please refer to the attachment for further details on the Proposed Acquisition.

 

 

This Announcement is dated 7 February 2020.




Please refer attachment below.



Announcement Info

Company Name WESTPORTS HOLDINGS BERHAD
Stock Name WPRTS
Date Announced 07 Feb 2020
Category General Announcement for PLC
Reference Number GA1-06022020-00068


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