BURSA ANNOUNCEMENTS

Date : 15 December 2017

OTHERS SUNWAY BERHAD ("SUNWAY") - SHARE SALE AGREEMENT BETWEEN SUNWAY LAGOON SDN BHD AND KUWAIT FINANCE HOUSE (MALAYSIA) BERHAD - SHARE SALE AGREEMENT BETWEEN SUNWAY LAGOON SDN BHD AND EMPLOYEES PROVIDENT FUND BOARD

SUNWAY BERHAD

Type Announcement
Subject OTHERS
Description
SUNWAY BERHAD ("SUNWAY")
- SHARE SALE AGREEMENT BETWEEN SUNWAY LAGOON SDN BHD AND KUWAIT FINANCE HOUSE (MALAYSIA) BERHAD
- SHARE SALE AGREEMENT BETWEEN SUNWAY LAGOON SDN BHD AND EMPLOYEES PROVIDENT FUND BOARD

We refer to our following announcements:- 

(a) Announcement on 10 October 2017 in relation to the Share Sale Agreement between Sunway Lagoon Sdn Bhd (“SLSB”) and Kuwait Finance House (Malaysia) Berhad (“KFH”) where SLSB agrees to acquire 50,000 ordinary shares held by KFH in Sunway South Quay Sdn Bhd (“SSQ”), representing 20% of the share capital of SSQ, at a purchase consideration of RM136,649,000 and repay on behalf of SSQ, a sum of RM73,351,000 in cash towards the settlement of the Musyarakah Capital invested by KFH in SSQ (“KFH SSA”); and

(b) Announcement on 24 October 2017 in relation to the Share Sale Agreement between SLSB and Employees’ Provident Fund Board (“EPF”) to acquire 50,000 ordinary shares held by EPF in SSQ, representing 20% of the share capital of SSQ, at a purchase consideration of RM136,649,000 and repay on behalf of SSQ, a sum of RM73,351,000 in cash towards the settlement of the Musyarakah Capital invested by KFH in SSQ (“EPF SSA”).        

(KFH SSA and EPF SSA are hereinafter, collectively referred to as the “Proposed Acquisitions”).

The Board of Directors of Sunway is pleased to announce that the Proposed Acquisitions were completed on 15 December 2017 in accordance with the terms and conditions of KFH SSA and EPF SSA. Following the completion of the Proposed Acquisition, SSQ will be a wholly-owned subsidiary of SLSB.

This announcement is dated 15 December 2017.






Announcement Info

Company Name SUNWAY BERHAD
Stock Name SUNWAY
Date Announced 15 Dec 2017
Category General Announcement for PLC
Reference Number GA1-14122017-00116


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