Date : 11 November 2016

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS MALAYSIAN RESOURCES CORPORATION BERHAD ("MRCB" OR "COMPANY") PROPOSED SUBSCRIPTION OF 700,000 NEW ORDINARY SHARES OF RM1.00 EACH, REPRESENTING 70% EQUITY INTEREST IN KWASA SENTRAL SDN BHD, A SPECIAL PURPOSE VEHICLE INCORPORATED TO UNDERTAKE THE MIXED DEVELOPMENT OF 64.07 ACRES OF LAND TO BE A TOWN CENTRE OF THE PROPOSED KWASA DAMANSARA TOWNSHIP FOR A SUBSCRIPTION PAYMENT OF RM816,614,180 IN CASH ("PROPOSED SUBSCRIPTION")

MALAYSIAN RESOURCES CORPORATION BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
MALAYSIAN RESOURCES CORPORATION BERHAD ("MRCB" OR "COMPANY")

PROPOSED SUBSCRIPTION OF 700,000 NEW ORDINARY SHARES OF RM1.00 EACH, REPRESENTING 70% EQUITY INTEREST IN KWASA SENTRAL SDN BHD, A SPECIAL PURPOSE VEHICLE INCORPORATED TO UNDERTAKE THE MIXED DEVELOPMENT OF 64.07 ACRES OF LAND TO BE A TOWN CENTRE OF THE PROPOSED KWASA DAMANSARA TOWNSHIP FOR A SUBSCRIPTION PAYMENT OF RM816,614,180 IN CASH ("PROPOSED SUBSCRIPTION")

(Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the announcement dated 14 August 2014 in relation to the Proposed Subscription)

We refer to the announcements dated 14 August 2014, 4 November 2014, 12 February 2015 and 8 August 2016.

On behalf of the Board of Directors of MRCB, Maybank Investment Bank Berhad wishes to announce that all the Conditions Precedent as set out in the Shareholders’ Agreement and the Supplemental Shareholders’ Agreement have been fulfilled.

The Unconditional Date, which shall be a date falling within six (6) months after the date of fulfilment of the Conditions Precedent, will be determined between the Parties at a later date.

The Proposed Subscription is expected to be completed by the second (2nd) quarter of 2017.

This Announcement is dated 11 November 2016.






Announcement Info

Company Name MALAYSIAN RESOURCES CORPORATION BERHAD
Stock Name MRCB
Date Announced 11 Nov 2016
Category General Announcement for PLC
Reference Number GA1-11112016-00057