We refer to our following announcements:

a) Announcement dated 16 October 2019 in relation to the establishment of a private trust known as Sunway Residence Trust in Singapore;

b) Announcement dated 23 October 2019 in relation to the incorporation of Sunway Residence (Guernsey) Limited (“SRG”);

c) Announcement dated 25 October 2019 in relation to the incorporation of Sunway RE Capital Advisors (UK) Limited (“UK Fund Manager”); and

d) Announcement dated 31 October 2019 in relation to the execution of the following agreements (collectively, “SPAs”) by SRG with the undermentioned parties to acquire purpose-built student accommodations as stated below (“Proposed Acquisition”) as well as the execution of a Shareholders’ Agreement between Sunway RE Capital Advisors (SG) Pte Ltd (“SG Fund Manager”), the UK Fund Manager and Mansion Property Management Limited (“MPML”) to regulate the rights of the SG Fund Manager and MPML in relation to the UK Fund Manager:

(i) Contract for Sale of Freehold Land with Colston Property Developments LLP as vendor and MG Markey Group Limited as guarantor for the acquisition of a freehold property known as The Colston, 8 Colston Avenue, Bristol, BS1 4ST, United Kingdom (“UK”) at a total purchase consideration of £9,122,300 which is equivalent to approximately RM49.2 million [exclusive of value added tax (“VAT”)];

(ii) Contract for Sale of Freehold Land with Marboot Centregate Ltd as vendor and Henry Boot Developments Limited as guarantor for the acquisition of a freehold property known as Centregate, Colston Avenue, Bristol, BS1 4TR, UK at a total consideration of £9,526,300 which is equivalent to approximately RM51.3 million (exclusive of VAT); and

(iii) Agreement for Sale with Make Space Redvers Limited as vendor, Redvers Development Limited as developer as well as Mr Anthony Leonard Harris, Mr Andrew Simon Clarfield, Baby Chicken Limited, Mr Ivor Spiro, Mr Max David Miller, Mr Mark Howard Gershinson, Mr Max William Simon Ashton, Mr Peter David Needleman and Mr Robin Julian Alvarez as guarantors to acquire a freehold property at Redvers House, Union Street, Sheffield S1 2JQ, UK at a total consideration of £18,976,300 which is equivalent to approximately RM102.3 million (exclusive of VAT).

The Board of Directors of Sunway is pleased to announce that the Proposed Acquisition was completed on 19 November 2019 in accordance with the terms and conditions of the SPAs. 

This announcement is dated 20 November 2019.