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Date : 26 October 2017

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS Kwantas Corporation Berhad ("Kwantas" or "the Company") Proposed Disposal of 3,791 Acres of Agriculture Land Held Under Title CL095316395 Located At Sungai Kinabatangan, District of Kinabatangan, Sabah Together With All Oil Palm Trees Planted And Structures Erected Thereon Owned By Kwantas Plantations Sdn Bhd ("KPSB"), A Wholly Owned Subsidiary of Kwantas For A Cash Consideration of RM100,448,621.00 ("Proposed Disposal")

KWANTAS CORPORATION BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
Kwantas Corporation Berhad ("Kwantas" or "the Company")

Proposed Disposal of 3,791 Acres of Agriculture Land Held Under Title CL095316395 Located At Sungai Kinabatangan, District of Kinabatangan, Sabah Together With All Oil Palm Trees Planted And Structures Erected Thereon Owned By Kwantas Plantations Sdn Bhd ("KPSB"), A Wholly Owned Subsidiary of Kwantas For A Cash Consideration of RM100,448,621.00 ("Proposed Disposal")

Reference is made to the announcement made by the Company on 19 April 2017 in relation to the Proposed Disposal.

The Board of Directors of Kwantas is pleased to announce that all the Conditions Precedent as stipulated in Clause 9.1 of the Sale & Purchase Agreement dated 19 April 2017 entered into between KPSB and KUB Malua Plantation Sdn Bhd (formerly known as KUB Oil & Gas Sdn Bhd) have been fulfilled on 26 October 2017. Hence, the Sale & Purchase Agreement has become unconditional pursuant to the fulfilment of all the Conditions Precedent.

This announcement is dated 26 October 2017.






Announcement Info

Company Name KWANTAS CORPORATION BERHAD
Stock Name KWANTAS
Date Announced 26 Oct 2017
Category General Announcement for PLC
Reference Number GA1-26102017-00081


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