TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS i) PROPOSED SALE OF THE BANGSAR PROPERTY, SHAH ALAM PROPERTY AND SHAH ALAM VACANT LAND (AS DEFINED BELOW) BY THE NEW STRAITS TIMES PRESS (MALAYSIA) BERHAD ("NSTP"), A 98.17%-OWNED SUBSIDIARY OF MPB, TO PNB DEVELOPMENT SDN. BERHAD ("PNB DEVELOPMENT"); AND ii) PROPOSED TENANCY IN RELATION TO THE BANGSAR PROPERTY AND SHAH ALAM PROPERTY BY NSTP FROM PNB DEVELOPMENT

MEDIA PRIMA BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
i)	PROPOSED SALE OF THE BANGSAR PROPERTY, SHAH ALAM PROPERTY AND SHAH ALAM VACANT 
        LAND (AS DEFINED BELOW) BY THE NEW STRAITS TIMES PRESS (MALAYSIA) BERHAD ("NSTP"), A 
        98.17%-OWNED SUBSIDIARY OF MPB, TO PNB DEVELOPMENT SDN. BERHAD ("PNB DEVELOPMENT"); 
        AND

ii)	PROPOSED TENANCY IN RELATION TO THE BANGSAR PROPERTY AND SHAH ALAM PROPERTY BY 
        NSTP FROM PNB DEVELOPMENT

On behalf of the Board of Directors of the Company, CIMB Investment Bank Berhad wishes to announce that, NSTP had on 30 August 2018 entered into 3 separate conditional sale and purchase agreements with PNB Development (collectively, "SPAs", and each, an "SPA"), respectively for the proposed sale of the following properties ("Proposed Sale"):

(a) 2 pieces of freehold land held under Titles No. GERAN 31811, Lot 443 and GERAN 31812, Lot 444, Seksyen 96A, Bandar Kuala Lumpur, Daerah Kuala Lumpur, Wilayah Persekutuan, Kuala Lumpur, measuring a total of approximately 151,814 square feet (“sq. ft.”), and the buildings erected thereon (collectively, "Bangsar Property"), for a cash consideration of RM118,720,000;

(b) a piece of freehold industrial land held under Title No. GERAN 58799, Lot 64213, Mukim Damansara, Daerah Petaling, Selangor Darul Ehsan, measuring approximately 653,154 sq. ft., and the buildings erected thereon ("Shah Alam Property"), for a cash consideration of RM127,900,000; and

(c) a piece of freehold industrial land held under Title No. GERAN 58800, Lot 64214, Mukim Damansara, Daerah Petaling, Selangor Darul Ehsan, measuring approximately 217,797 sq. ft. ("Shah Alam Vacant Land"), for a cash consideration of RM33,380,000,

for a total cash consideration of RM280,000,000.

It is also a condition under the SPAs for the Bangsar Property and Shah Alam Property, for NSTP and PNB Development to enter into 2 separate tenancy agreements, the agreed forms of which are appended to the SPAs, for the proposed tenancy in relation to the Bangsar Property and Shah Alam Property by NSTP from PNB Development ("Proposed Tenancy"). The tenancies are intended to commence on the day immediately after the completion of the respective SPAs.

(The Proposed Sale and Proposed Tenancy are, collectively, referred to as "Proposals").

Please refer to the attachment for the full text of the Announcement in relation to the Proposals.

 

This announcement is dated 30 August 2018.




Please refer attachment below.



Announcement Info

Company Name MEDIA PRIMA BERHAD
Stock Name MEDIA
Date Announced 30 Aug 2018
Category General Announcement for PLC
Reference Number GA1-30082018-00088