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Bursa Announcements

Date: 30 April 2018

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS WESTPORTS HOLDINGS BERHAD ("WHB" OR "THE COMPANY") - PROPOSED ACQUISITION OF A PIECE OF LEASEHOLD LAND UNDER THE SEA WITH THE SIZE OF 154.2 HA. (381 ACRES) ON THE LAND TITLE HS (D) 71881 PT 73171 AT PULAU INDAH, PORT KLANG BY WESTPORTS MALAYSIA SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY


Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description WESTPORTS HOLDINGS BERHAD ("WHB" OR "THE COMPANY")                                                                                          - PROPOSED ACQUISITION OF A PIECE OF LEASEHOLD LAND UNDER THE SEA WITH THE SIZE OF 154.2 HA. (381 ACRES) ON THE LAND TITLE HS (D) 71881 PT 73171 AT PULAU INDAH, PORT KLANG BY WESTPORTS MALAYSIA SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY

The Board of Directors of WHB is pleased to announce that Westports Malaysia Sdn Bhd ("WMSB" or "the Purchaser"), a wholly-owned subsidiary of the Company, has on 30 April 2018 accepted the letter of offer from Perbadanan Kemajuan Negeri Selangor ("Vendor" or "PKNS") dated 3 April 2018 after having successfully bid and now would execute the proposed acquisition of a piece of leasehold land under the sea with the size of 154.2 ha. / 381 acres on the land title Block HS (D) 71881 PT 73171 ("Land") for a total cash purchase consideration of Ringgit Malaysia One Hundred Sixteen Million One Hundred Eighty Five Thousand Four Hundred Ninety Seven and cents twelve (RM116,185,497.12) only ("Purchase Consideration"), subject to the terms and conditions as stipulated in the Sale and Purchase Agreement ("SPA") to be entered into between WMSB and PKNS (the "Proposed Acquisition").

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

This announcement is dated 30 April 2018.



 


ATTACHMENT

- WHB - PKNS Land Acquisition.pdf

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