TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS PROPOSED ACQUISITION BY MRCB LAND SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF MRCB OF 1,000,000 ORDINARY SHARES OF RM1.00 EACH IN NILAITERA SDN BHD (NILAITERA SHARES), REPRESENTING 100% EQUITY INTEREST IN NILAITERA SDN BHD FROM NUSA GAPURNA DEVELOPMENT SDN BHD FOR A TOTAL CASH CONSIDERATION OF RM24,780,100 (PROPOSED ACQUISITION)
| MALAYSIAN RESOURCES CORPORATION BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description | PROPOSED ACQUISITION BY MRCB LAND SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF MRCB OF 1,000,000 ORDINARY SHARES OF RM1.00 EACH IN NILAITERA SDN BHD (NILAITERA SHARES), REPRESENTING 100% EQUITY INTEREST IN NILAITERA SDN BHD FROM NUSA GAPURNA DEVELOPMENT SDN BHD FOR A TOTAL CASH CONSIDERATION OF RM24,780,100 (PROPOSED ACQUISITION) |
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The Board of Directors of MRCB ("Board") wishes to announce that MRCB Land Sdn Bhd ("MRCB Land"), a wholly-owned subsidiary of MRCB, has today, entered into a Share Sale Agreement ("SSA") with Nusa Gapurna Development Sdn Bhd ("NGD") for the proposed acquisition of 1,000,000 ordinary shares of RM1.00 each, representing 100% equity interest in Nilaitera Sdn Bhd ("Nilaitera") for a total cash consideration of RM24,780,100 ("Purchase Consideration"). MRCB also entered into a Supplemental Agreement with NGD ("Supplemental Agreement") to vary the terms of the Right of First Refusal and Call Option Agreement dated 8 February 2013 ("ROFR Call Option Agreement"), whereby NGD had agreed to remove all reference to Nilaitera as part of the Option Assets as defined in the ROFR Call Option Agreement, hence the rights granted and the conditions imposed under the ROFR Call Option Agreement shall exclude Nilaitera. Further details of the Proposed Acquisition are set out in the attachment below |
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Please refer attachment below.
Announcement Info
| Company Name | MALAYSIAN RESOURCES CORPORATION BERHAD |
| Stock Name | MRCB |
| Date Announced | 09 Dec 2016 |
| Category | General Announcement for PLC |
| Reference Number | GA1-09122016-00074 |
