TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS LBI CAPITAL BERHAD ("LBI" OR "COMPANY") DISPOSAL OF 4 ADJOINING PARCELS OF VACANT FREEHOLD DEVELOPMENT LAND IN SEKSYEN 1, BANDAR BATU FERRINGGI, DAERAH TIMOR LAUT, PULAU PINANG BY LBR INDUSTRIES SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF LBI CAPITAL BERHAD, TO CRIMSON LEGEND (M) SDN. BHD., FOR A TOTAL CASH CONSIDERATION OF RM50.0 MILLION, EXCLUSIVE OF GOODS AND SERVICES TAX OF RM3.0 MILLION ("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")

DISPOSAL OF 4 ADJOINING PARCELS OF VACANT FREEHOLD DEVELOPMENT LAND IN SEKSYEN 1, BANDAR BATU FERRINGGI, DAERAH TIMOR LAUT, PULAU PINANG BY LBR INDUSTRIES SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF LBI CAPITAL BERHAD, TO CRIMSON LEGEND (M) SDN. BHD., FOR A TOTAL CASH CONSIDERATION OF RM50.0 MILLION, EXCLUSIVE OF GOODS AND SERVICES TAX OF RM3.0 MILLION ("DISPOSAL OF LANDS")

The terms used herein shall, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcement dated 6 January 2016.

We refer to the earlier announcements dated 6 January 2016, 26 February 2016 and 15 March 2016 in relation to the Disposal of Lands.

On behalf of the Board, Affin Hwang IB wishes to announce that the Disposal of Lands has been completed following the receipt of the Balance Disposal Consideration and the GST amount of RM3.0 million in accordance with the terms and conditions of the SPAs.

This announcement is dated 15 June 2016.






Announcement Info

Company Name LBI CAPITAL BERHAD
Stock Name LBICAP
Date Announced 15 Jun 2016
Category General Announcement for PLC
Reference Number GA1-15062016-00044