Bursa Announcements
Date : 24 May 2018
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS SUNWAY BERHAD ("SUNWAY" OR "COMPANY") (I) PROPOSED DISPOSAL OF THE SUNWAY CLIO PROPERTY BY SUNWAY FORUM HOTEL SDN. BHD. FOR A CASH CONSIDERATION OF RM340 MILLION; (II) PROPOSED LEASE BY SUNWAY RESORT HOTEL SDN. BHD. OF THE HOTEL PROPERTY FOR AN INITIAL TERM OF 10 YEARS AND (III) PROPOSED TENANCY BY SUNWAY LEISURE SDN. BHD. OF THE MULTI-STOREY CAR PARK IN THE SUNWAY CLIO PROPERTY (COLLECTIVELY REFERRED TO AS "PROPOSALS")
| SUNWAY BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | SUNWAY BERHAD ("SUNWAY" OR "COMPANY")
(I) PROPOSED DISPOSAL OF THE SUNWAY CLIO PROPERTY BY SUNWAY FORUM HOTEL SDN. BHD. FOR A CASH CONSIDERATION OF RM340 MILLION; (II) PROPOSED LEASE BY SUNWAY RESORT HOTEL SDN. BHD. OF THE HOTEL PROPERTY FOR AN INITIAL TERM OF 10 YEARS AND (III) PROPOSED TENANCY BY SUNWAY LEISURE SDN. BHD. OF THE MULTI-STOREY CAR PARK IN THE SUNWAY CLIO PROPERTY (COLLECTIVELY REFERRED TO AS "PROPOSALS") |
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Unless otherwise defined, the abbreviations and definitions used in the announcement by Sunway dated 3 August 2017 and 9 February 2018 (“Announcements”) shall apply herein. We refer to the Announcements in relation to the Proposals. On behalf of the Board, RHB Investment Bank wishes to announce that all the conditions precedent of the HLA have been fulfilled following the receipt of the letter of consent from the State Authority dated 22 May 2018 (which was received on 24 May 2018) for the lease of the Hotel Property. This announcement is dated 24 May 2018. |
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Announcement Info
| Company Name | SUNWAY BERHAD |
| Stock Name | SUNWAY |
| Date Announced | 24 May 2018 |
| Category | General Announcement for PLC |
| Reference Number | GA1-24052018-00119 |