Bursa Announcements

Date : 23 December 2021

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS SUNWAY BERHAD ("SUNWAY" OR "COMPANY") PROPOSED INVESTMENT BY GREENWOOD CAPITAL PTE LTD ("GREENWOOD"), AN INDIRECT WHOLLY OWNED SUBSIDIARY OF GIC (VENTURES) PTE LTD ("GIC VENTURES"), IN SUNWAY HEALTHCARE HOLDINGS SDN BHD ("SUNWAY HEALTHCARE"), A WHOLLY OWNED SUBSIDIARY OF SUNWAY CITY SDN BHD ("SUNWAY CITY") WHICH IN TURN IS A WHOLLY OWNED SUBSIDIARY OF SUNWAY, FOR A TOTAL SUBSCRIPTION CONSIDERATION OF RM750.0 MILLION IN CASH ("PROPOSED INVESTMENT")

SUNWAY BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
SUNWAY BERHAD ("SUNWAY" OR "COMPANY")

PROPOSED INVESTMENT BY GREENWOOD CAPITAL PTE LTD ("GREENWOOD"), AN INDIRECT WHOLLY OWNED SUBSIDIARY OF GIC (VENTURES) PTE LTD ("GIC VENTURES"), IN SUNWAY HEALTHCARE HOLDINGS SDN BHD ("SUNWAY HEALTHCARE"), A WHOLLY OWNED SUBSIDIARY OF SUNWAY CITY SDN BHD ("SUNWAY CITY") WHICH IN TURN IS A WHOLLY OWNED SUBSIDIARY OF SUNWAY, FOR A TOTAL SUBSCRIPTION CONSIDERATION OF RM750.0 MILLION IN CASH ("PROPOSED INVESTMENT")

(Unless otherwise stated, all abbreviations used in this Announcement shall have the same meanings as defined in the Company’s announcement dated 23 June 2021 in relation to the Proposed Investment)

We refer to the Company’s announcements dated 23 June 2021, 14 September 2021 and 5 November 2021 in relation to the Proposed Investment.

On behalf of the Board, Maybank IB wishes to announce that the Initial Closing Conditions have been fulfilled and that Initial Closing has occurred on 23 December 2021 whereby Greenwood has become a shareholder of Sunway Healthcare.

In addition, Sunway, Sunway City, Sunway Healthcare and Greenwood (collectively, “Parties”) have on 23 December 2021 signed a supplemental letter to the SSA (“SSA Supplemental Letter”) to vary, among others, the date of the 1st Closing. Pursuant to the SSA Supplemental Letter, the Parties agreed that the 1st Closing has been amended from the later of the date falling six (6) months after the date of the SSA or the Initial Closing Date to the date falling nine (9) months after the date of the SSA. Accordingly, 1st Closing is expected to occur in the 1st quarter of 2022.

 

This Announcement is dated 23 December 2021.






Announcement Info

Company Name SUNWAY BERHAD
Stock Name SUNWAY
Date Announced 23 Dec 2021
Category General Announcement for PLC
Reference Number GA1-23122021-00051


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