Date : 15 February 2021

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS MULPHA INTERNATIONAL BHD ("MIB") - I. JOINT VENTURE ("JV") CUM SHAREHOLDERS' AGREEMENT BETWEEN LEISURE FARM CORPORATION SDN BHD ("LFC"), A WHOLLY-OWNED SUBSIDIARY OF MIB, UEM LAND BERHAD ("UEML"), A WHOLLY-OWNED SUBSIDIARY OF UEM SUNRISE BERHAD ("UEMS") & GERBANG LEISURE PARK SDN BHD ("GLPSB"), THE 50:50 JV COMPANY JOINTLY OWNED BY LFC & UEML; AND II. MASTER AGREEMENT BETWEEN LFC, GLPSB, NUSAJAYA SEAVIEW SDN BHD & NUSAJAYA RISE SDN BHD (BOTH ARE INDIRECT WHOLLY-OWNED SUBSIDIARIES OF UEMS)

MULPHA INTERNATIONAL BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
MULPHA INTERNATIONAL BHD ("MIB") - I. JOINT VENTURE ("JV") CUM SHAREHOLDERS' AGREEMENT BETWEEN LEISURE FARM CORPORATION SDN BHD ("LFC"), A WHOLLY-OWNED SUBSIDIARY OF MIB, UEM LAND BERHAD ("UEML"), A WHOLLY-OWNED SUBSIDIARY OF UEM SUNRISE BERHAD ("UEMS") & GERBANG LEISURE PARK SDN BHD ("GLPSB"), THE 50:50 JV COMPANY JOINTLY OWNED BY LFC & UEML; AND  II. MASTER AGREEMENT BETWEEN LFC, GLPSB, NUSAJAYA SEAVIEW SDN BHD & NUSAJAYA RISE SDN BHD (BOTH ARE INDIRECT WHOLLY-OWNED SUBSIDIARIES OF UEMS)

We refer to our announcements dated 17 February 2016, 22 February 2016, 26 May 2016, 15 February 2018, 15 February 2019 and 14 February 2020 in relation to the above.  Unless otherwise stated, the definitions used herein shall have the same meanings as set out in these announcements.

 

We wish to announce that both LFC and UEMS have mutually agreed not to continue with the Master Agreement since the conditions precedent as detailed out under the Master Agreement (refer to announcement dated 17 February 2016) have not been fulfilled or waived during the extended conditional period. Hence, both LFC and UEMS have mutually agreed to terminate the Master Agreement, whereupon termination, shall become null and void, and of no effect whatsoever upon the expiry of the extended conditional period on 15 February 2021.

 

The termination of the Master Agreement does not have any effect on MIBís issued and paid-up share capital and shareholdings of MIBís substantial shareholders, as well as MIB Groupís net assets, gearing and earnings per share.

 

 

This announcement is dated 15 February 2021.

 






Announcement Info

Company Name MULPHA INTERNATIONAL BERHAD
Stock Name MULPHA
Date Announced 15 Feb 2021
Category General Announcement for PLC
Reference Number GA1-14022021-00002


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