TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS LBI CAPITAL BERHAD ("LBI" OR "COMPANY") PROPOSED DISPOSAL OF 4 ADJOINING PARCELS OF VACANT FREEHOLD DEVELOPMENT LAND IN SEKSYEN 1, BANDAR BATU FERRINGGI, DAERAH TIMUR LAUT, PULAU PINANG BY LBR INDUSTRIES SDN. BHD. ("LBR" OR "VENDOR"), A WHOLLY-OWNED SUBSIDIARY OF LBI, TO CRIMSON LEGEND (M) SDN. BHD. ("CRIMSON" OR "PURCHASER") ("PROPOSED DISPOSAL OF LANDS")

LBI CAPITAL BERHAD

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

PROPOSED DISPOSAL OF 4 ADJOINING PARCELS OF VACANT FREEHOLD DEVELOPMENT LAND IN SEKSYEN 1, BANDAR BATU FERRINGGI, DAERAH TIMUR LAUT, PULAU PINANG BY LBR INDUSTRIES SDN. BHD. ("LBR" OR "VENDOR"), A WHOLLY-OWNED SUBSIDIARY OF LBI, TO CRIMSON LEGEND (M) SDN. BHD. ("CRIMSON" OR "PURCHASER") ("PROPOSED DISPOSAL OF LANDS")

On behalf of the Board of Directors of LBI ("Board"), Affin Hwang Investment Bank Berhad ("Affin Hwang IB") wishes to announce that on 6 January 2016, LBR entered into 4 sale and purchase agreements (“SPAs”) with Crimson for the disposal of 4 adjoining parcel of lands identified as Geran 35066 Lot No. 32, Geran 80859 Lot No. 63, Geran 80863 Lot No. 67 and Geran 80864 Lot No. 68 in Seksyen 1, Bandar Batu Ferringgi, Daerah Timur Laut, Pulau Pinang (collectively referred to as the “Lands”), for a total consideration of RM50.0 million (“Disposal Consideration”), excluding Goods and Services Tax (“GST”) of RM3.0 million, to be satisfied entirely in cash.                                                  

Please refer to the attachment for the full announcement in relation to the Proposed Disposal of Lands.

This announcement is dated 6 January 2016.




Please refer attachment below.



Announcement Info

Company Name LBI CAPITAL BERHAD
Stock Name LBICAP
Date Announced 06 Jan 2016
Category General Announcement for PLC
Reference Number GA1-06012016-00005