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OTHERS RADIUM DEVELOPMENT BERHAD ("RADIUM" OR "THE COMPANY") EXTENSION OF TIME PURSUANT TO THE JOINT VENTURE AGREEMENT DATED 20 SEPTEMBER 2022 AND SUPPLEMENTAL AGREEMENT DATED 20 SEPTEMBER 2023 SIGNED BETWEEN KADAR JUTAJAYA SDN. BHD. AND RASA WANGI DEVELOPMENT SDN. BHD. FOR A PROPOSED DEVELOPMENT ON A PIECE OF LEASEHOLD LAND HELD UNDER H.S.(D) 123036, PT 50316, MUKIM BATU, DAERAH KUALA LUMPUR, NEGERI WILAYAH PERSEKUTUAN KUALA LUMPUR MEASURING APPROXIMATELY 21,505 SQUARE METRE ("PROJECT")

RADIUM DEVELOPMENT BERHAD

Type Announcement
Subject OTHERS
Description
RADIUM DEVELOPMENT BERHAD ("RADIUM" OR "THE COMPANY") 

EXTENSION OF TIME PURSUANT TO THE JOINT VENTURE AGREEMENT DATED 20 SEPTEMBER 2022 AND SUPPLEMENTAL AGREEMENT DATED 20 SEPTEMBER 2023 SIGNED BETWEEN KADAR JUTAJAYA SDN. BHD. AND RASA WANGI DEVELOPMENT SDN. BHD. FOR A PROPOSED DEVELOPMENT ON A PIECE OF LEASEHOLD LAND HELD UNDER H.S.(D) 123036, PT 50316, MUKIM BATU, DAERAH KUALA LUMPUR, NEGERI WILAYAH PERSEKUTUAN KUALA LUMPUR MEASURING APPROXIMATELY 21,505 SQUARE METRE ("PROJECT")

Reference is made to Section 5.20(iii) of Radium’s prospectus dated 27 April 2023 in respect of the joint venture agreement dated 20 September 2022 (“JVA”) entered into between Kadar Jutajaya Sdn. Bhd. (“KJSB”) and Rasa Wangi Development Sdn. Bhd. (“RWDSB”), a 100% owned subsidiary of Radium.

 

The Board of Directors wishes to announce that pursuant to clause 2.4 of the JVA, both KJSB and RWDSB (“the Parties”) are agreeable to extend the period for fulfilment of Condition Precedent for a further twelve (12) months commencing from 20 September 2023 to 19 September 2024 free of interest (“First Extension of Time”).

 

In furtherance thereto, KJSB and RWDSB had entered into the Supplemental Agreement on 20 September 2023 to document the Parties' option for further extension of time upon expiry of the First Extension of Time and involvement of KJSB (being the landowner) in project committee in relation to the said Project.

 

This announcement is dated 20 September 2023.






Announcement Info

Company Name RADIUM DEVELOPMENT BERHAD
Stock Name RADIUM
Date Announced 20 Sep 2023
Category General Announcement for PLC
Reference Number GA1-20092023-00062



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