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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PROPOSED ACQUISITION BY ARDENT RESIDENCE SDN. BHD. (ARSB OR PURCHASER), A WHOLLY-OWNED SUBSIDIARY OF MCT CONSORTIUM BHD. (MCTCB), WHICH IS A WHOLLY-OWNED SUBSIDIARY OF MCT, OF A PARCEL OF FREEHOLD RESIDENTIAL DEVELOPMENT LAND MEASURING APPROXIMATELY 1.57 ACRES AT BANDAR KUALA LUMPUR (LAND) FROM HPC DEVELOPMENT SDN. BHD. (HPC OR VENDOR) FOR A TOTAL CASH CONSIDERATION OF RM58.0 MILLION

AVALAND BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
PROPOSED ACQUISITION BY ARDENT RESIDENCE SDN. BHD. (ARSB OR PURCHASER), A WHOLLY-OWNED SUBSIDIARY OF MCT CONSORTIUM BHD. (MCTCB), WHICH IS A WHOLLY-OWNED SUBSIDIARY OF MCT, OF A PARCEL OF FREEHOLD RESIDENTIAL DEVELOPMENT LAND MEASURING APPROXIMATELY 1.57 ACRES AT BANDAR KUALA LUMPUR (LAND) FROM HPC DEVELOPMENT SDN. BHD. (HPC OR VENDOR) FOR A TOTAL CASH CONSIDERATION OF RM58.0 MILLION

(Unless otherwise defined in this announcement, the terms used throughout this announcement shall have the same meaning as defined in the announcement dated 20 February 2023, 17 April 2023 and 28 April 2023 in relation to the Proposed Acquisition.)

 

The Company wishes to announce that ARSB had on 26 July 2023 received notification from its solicitors confirming that the Balance Purchase Price under the SPA has been fully paid on 25 July 2023. Accordingly, the Proposed Acquisition is deemed completed on 25 July 2023.

 

This announcement is dated 26 July 2023.






Announcement Info

Company Name AVALAND BERHAD
Stock Name AVALAND
Date Announced 26 Jul 2023
Category General Announcement for PLC
Reference Number GA1-26072023-00028



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