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OTHERS ISKANDAR WATERFRONT CITY BERHAD ("IWCITY" OR THE "COMPANY") - RECEIPT OF A LETTER FROM TAN SRI DATO' LIM KANG HOO ("TSDLKH") FOR REQUEST TO CONSIDER PARTICIPATING IN A REORGANISATION, RATIONALISATION AND MERGER PROPOSAL

ISKANDAR WATERFRONT CITY BERHAD

Type Announcement
Subject OTHERS
Description
ISKANDAR WATERFRONT CITY BERHAD ("IWCITY" OR THE "COMPANY")
- RECEIPT OF A LETTER FROM TAN SRI DATO' LIM KANG HOO ("TSDLKH") FOR REQUEST TO CONSIDER PARTICIPATING IN A REORGANISATION, RATIONALISATION AND MERGER PROPOSAL

The Board of Directors of the Company (“Board”) has on 27 September 2023 received a letter dated 27 September 2023 from TSDLKH, being the major shareholder of the Company (“Proposal Letter”), requesting the Company to consider participating in a reorganisation, rationalisation and merger proposal comprising, amongst others, the proposed merger of the properties and assets of Iskandar Waterfront Holdings Sdn Bhd (“IWH”) (being the holding company of IWCity) and IWCity under a single entity, through the acquisition by IWCity of the entire issued share capital of all the existing direct subsidiaries of IWH (“Proposal”).

Please refer to the attached Proposal Letter for further details on the Proposal.

The Board will deliberate on the Proposal and decide on the next course of action. Accordingly, a further announcement will be made in due course after the Board’s deliberation.

This announcement is dated 27 September 2023.




Please refer attachment below.



Announcement Info

Company Name ISKANDAR WATERFRONT CITY BERHAD
Stock Name IWCITY
Date Announced 27 Sep 2023
Category General Announcement for PLC
Reference Number GA1-27092023-00072



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