TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS SUNWAY BERHAD (“SUNWAY”) - SUBSCRIPTION AND SHAREHOLDERS’ AGREEMENT BETWEEN SUNWAY CITY SDN BHD (A WHOLLY-OWNED SUBSIDIARY OF SUNWAY), DAYANG BUNTING VENTURES SDN BHD (A WHOLLY-OWNED SUBSIDIARY OF KHAZANAH NASIONAL BERHAD) AND SUNWAY ISKANDAR SDN BHD
|Subject||TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)|
NON RELATED PARTY TRANSACTIONS
|Description||SUNWAY BERHAD (“SUNWAY”)|
- SUBSCRIPTION AND SHAREHOLDERS’ AGREEMENT BETWEEN SUNWAY CITY SDN BHD (A WHOLLY-OWNED SUBSIDIARY OF SUNWAY), DAYANG BUNTING VENTURES SDN BHD (A WHOLLY-OWNED SUBSIDIARY OF KHAZANAH NASIONAL BERHAD) AND SUNWAY ISKANDAR SDN BHD
We refer to our announcements dated 19 December 2011 and 28 December 2011 in relation to, inter alia, the Subscription and Shareholders’ Agreement (“SSA”) between Sunway City Sdn Bhd (“SunCity”), a wholly-owned subsidiary of Sunway, Dayang Bunting Ventures Sdn Bhd (“DBV”), a wholly-owned subsidiary of Khazanah Nasional Berhad and Sunway Iskandar Sdn Bhd (“SISB”) with the intention of establishing a joint venture company, SISB, to acquire leases of up to 99 years over the parcels of land located in Zone F within Medini, Iskandar Malaysia to undertake an integrated commercial and residential development on the Lands as well as to regulate the relationship of SunCity and DBV as shareholders of SISB. Pursuant to a Lease Purchase Agreement dated 9 July 2012 entered into between Iskandar Investment Berhad and SISB, SISB has purchased an additional term of 30 years of the leases commencing immediately upon the expiry of the aforesaid 99 years.
The Board of Directors of Sunway wishes to announce that following SunCity’s subscription of additional 495,000 ordinary shares and 49,005,000 redeemable preference shares in SISB on 3 June 2014 in accordance with the terms of the SSA, SISB and its subsidiary Trillion Desire Sdn Bhd, have become subsidiaries of SunCity.
This announcement is dated 3 June 2014.
|Company Name||SUNWAY BERHAD|
|Date Announced||3 Jun 2014|