Bursa Announcements

Date : 01 November 2013

OTHERS SUNWAY BERHAD (“SUNWAY”) - SHARE SALE AGREEMENT AND SHAREHOLDERS AGREEMENT WITH MILLENNIUM PAVILION SDN BHD

SUNWAY BERHAD

TypeAnnouncement
SubjectOTHERS
DescriptionSUNWAY BERHAD (“SUNWAY”)
- SHARE SALE AGREEMENT AND SHAREHOLDERS AGREEMENT WITH MILLENNIUM PAVILION SDN BHD
We refer to our announcement dated 15 August 2013 in relation to the execution of the following agreements between Sunway and Millennium Pavilion Sdn Bhd (“MPSB”) on 14 August 2013:-
(a) Share Sale Agreement for the purpose of disposing 200,000 ordinary shares of RM1/- each, representing 20% of the issued and paid-up share capital of Sunway REIT Management Sdn Bhd (“SRM”) to MPSB free from all encumbrances, claims, charges, liens and equities and with all rights attaching thereto at a total consideration of RM28,000,000/- (“Proposed Disposal”); and

(b) Shareholders Agreement for the purpose of regulating the relationship between Sunway and MPSB as shareholders of SRM.
    The Board of Directors of Sunway is pleased to inform that the following approvals for the Proposed Disposal had been obtained on 31 October 2013 from the Securities Commission (“SC”):-

    (a) for the change in the shareholding of SRM vis-à-vis its continuing eligibility to be a management company of Sunway Real Estate Investment Trust, as a result of the Proposed Disposal pursuant to the Guidelines on Real Estate Investment Trust issued by SC; and

    (b) for the change in the shareholding of SRM which results in a change in its controller pursuant to the Licensing Handbook issued by SC.

    This announcement is dated 1 November 2013


    Announcement Info

    Company NameSUNWAY BERHAD  
    Stock Name SUNWAY    
    Date Announced1 Nov 2013  
    CategoryGeneral Announcement
    Reference NoSS-131101-33EDD

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