OTHERS FAR EAST HOLDINGS BERHAD ("FEHB") EXTENSION OF TIME FOR FULFILMENT OF CONDITIONS PRECEDENT IN RELATION TO THE PROPOSED ACQUISITION OF 2,124.5 HECTARES (EQUIVALENT TO 5,249.7 ACRES) OIL PALM PLANTATION LAND INCLUSIVE OF A 40 MT FFB/HOUR RATED CAPACITY PALM OIL MILL ("Property") BY FEHB FROM HARN LEN CORPORATION BHD.

FAR EAST HOLDINGS BERHAD

Type Announcement
Subject OTHERS
Description
FAR EAST HOLDINGS BERHAD ("FEHB")

EXTENSION OF TIME FOR FULFILMENT OF CONDITIONS PRECEDENT IN RELATION TO THE PROPOSED ACQUISITION OF 2,124.5 HECTARES (EQUIVALENT TO 5,249.7 ACRES) OIL PALM PLANTATION LAND INCLUSIVE OF A 40 MT FFB/HOUR RATED CAPACITY PALM OIL MILL ("Property") BY FEHB FROM HARN LEN CORPORATION BHD.

We refer to our earlier announcements dated 29 April 2019, 12 June 2019 and 25 July 2019 on the Sale and Purchase Agreement ("SPA"), Supplemental Agreement and Second Supplemental Agreement signed between FEHB and Harn Len Corporation Bhd ("HLCB") respectively for the Property.

 

We would like to announce that the Conditions Precedent as stated in Clause 3.1 (b) and (c) of the SPA have not been fulfilled. The Conditions Precedent are to be fulfilled by the Extended Conditional Period of 29 January 2020 and in view thereof, FEHB and HLCB had agreed to an extension of time up to 29 April 2020 for fulfilment of the Conditions Precedent.

 

 

This announcement is dated 29 January 2020.






Announcement Info

Company Name FAR EAST HOLDINGS BERHAD
Stock Name FAREAST
Date Announced 29 Jan 2020
Category General Announcement for PLC
Reference Number GA1-29012020-00027