TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS SURIA CAPITAL HOLDINGS BERHAD ("SURIA" OR "COMPANY") PROPOSED ALIENATION OF A PARCEL OF LAND MEASURING APPROXIMATELY 28.9 ACRES (11.7 HECTARES) ("KK LAND") FROM THE STATE GOVERNMENT OF SABAH ("STATE GOVERNMENT") TO SURIA ("PROPOSED ALIENATION")

SURIA CAPITAL HOLDINGS BERHAD

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

PROPOSED ALIENATION OF A PARCEL OF LAND MEASURING APPROXIMATELY 28.9 ACRES (11.7 HECTARES) ("KK LAND") FROM THE STATE GOVERNMENT OF SABAH ("STATE GOVERNMENT") TO SURIA ("PROPOSED ALIENATION")

We refer to the announcements by Suria dated 23 September 2016 and 28 December 2017 in relation to the Proposed Alienation.

As per the terms of the letter of offer to alienate the KK Land by Sabah State’s Lands and Surveys Department (“Sabah LSD”) dated 22 December 2017 (“Offer Letter”), acceptance of the offer shall be signified by the return of the signed copy of the Offer Letter to Sabah LSD and payment of 50% of the total land premium of RM48,475,000. On behalf of the Board of Directors of Suria (“Board”), RHB Investment Bank Berhad (“RHB Investment Bank”) wishes to announce that Suria had on 21 March 2018 accepted the offer under the Offer Letter by paying the sum of RM24,237,500 (being 50% of the total land premium for the KK Land) and returning the signed copy of the Offer Letter to Sabah LSD. Following the acceptance of the offer, the Company will endeavour to fulfill the terms and conditions stipulated in the Offer Letter and work towards executing a definitive agreement with State Government to regulate the terms and obligations of the parties in relation to the Proposed Alienation. The Company will make the relevant announcement in due course.

 

This announcement is dated 21 March 2018.






Announcement Info

Company Name SURIA CAPITAL HOLDINGS BERHAD
Stock Name SURIA
Date Announced 21 Mar 2018
Category General Announcement for PLC
Reference Number GA1-21032018-00083