Date : 26 June 2014

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS MULPHA INTERNATIONAL BHD (“MIB”) - PROPOSED DISPOSAL OF LANDS BY MULPHA NORWEST PTY LIMITED AND MULPHA SANCTUARY COVE (DEVELOPMENTS) PTY LIMITED, SUBSIDIARIES OF MIB, TO AVEO SOUTHERN GATEWAY PTY LIMITED (AS TRUSTEE OF AVEO SOUTHERN GATEWAY TRUST) AND AVEO SANCTUARY COVE PTY LIMITED (AS TRUSTEE OF AVEO SANCTUARY COVE TRUST) ["PROPOSED DISPOSALS"]

MULPHA INTERNATIONAL BERHAD

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
DescriptionMULPHA INTERNATIONAL BHD (“MIB”)
- PROPOSED DISPOSAL OF LANDS BY MULPHA NORWEST PTY LIMITED AND MULPHA SANCTUARY COVE (DEVELOPMENTS) PTY LIMITED, SUBSIDIARIES OF MIB, TO AVEO SOUTHERN GATEWAY PTY LIMITED (AS TRUSTEE OF AVEO SOUTHERN GATEWAY TRUST) AND AVEO SANCTUARY COVE PTY LIMITED (AS TRUSTEE OF AVEO SANCTUARY COVE TRUST) ["PROPOSED DISPOSALS"]

 

 The terms used herein, unless the context otherwise states, shall bear the same meaning as those defined in the announcement dated 21 May 2014 in relation to the Proposed Disposals. 

We refer to our announcements dated 21 May 2014 and 17 June 2014 in relation to the Proposed Disposals, and wish to furnish the following additional information:-

1.  The market value of the larger development land parcel (which includes the Gateway Land) based on the valuation carried out by CBRE Valuations Pty Limited on 28 April 2014, was A$40,175,000.

2.  We wish to clarify that the total sale proceeds of the Gateway Land and SC Land are being used for investment purposes i.e. the acquisition of shares in Norwest by Mulpha Investments Pty Limited (“MIPL”) from Aveo Group Limited, as follows:- 

      a) A$15.0 million was advanced to MIPL on 20 May 2014; and

      b) the remaining A$38.6 million is expected to be advanced to MIPL on or before the completion date, which is expected to be in the third quarter of 2014.

This announcement is dated 26 June 2014.

 


Announcement Info

Company NameMULPHA INTERNATIONAL BERHAD  
Stock Name MULPHA    
Date Announced26 Jun 2014  
CategoryGeneral Announcement
Reference NoMI-140625-2A0FF

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