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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PROPOSED DISPOSAL BY REX CANNING CO. SDN. BHD. OF ALL THAT PIECE OF LAND AND HEREDITAMENTS TOGETHER WITH THE BUILDING ERECTED THEREON:- 1. HELD UNDER NO. HAKMILIK PN 6849, LOT 3826, MUKIM 13, DAERAH SEBERANG PERAI TENGAH, NEGERI PULAU PINANG; AND 2. HELD UNDER NO. HAKMILIK PN 10414, LOT 7067, MUKIM 13, DAERAH SEBERANG PERAI TENGAH, NEGERI PULAU PINANG FOR A TOTAL CONSIDERATION OF RM41.8 MILLION

REX INDUSTRY BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
PROPOSED DISPOSAL BY REX CANNING CO. SDN. BHD. OF ALL THAT PIECE OF LAND AND HEREDITAMENTS TOGETHER WITH THE BUILDING ERECTED THEREON:-

1. HELD UNDER NO. HAKMILIK PN 6849, LOT 3826, MUKIM 13, DAERAH SEBERANG PERAI TENGAH, NEGERI PULAU PINANG; AND
2. HELD UNDER NO. HAKMILIK PN 10414, LOT 7067, MUKIM 13, DAERAH SEBERANG PERAI TENGAH, NEGERI PULAU PINANG

FOR A TOTAL CONSIDERATION OF RM41.8 MILLION
The Board of Directors of Rex ("Board") is pleased to announce that Rex Canning Co. Sdn Bhd ("Rex Canning"), a wholly-owned subsidiary of the Company, had on 10 November 2023 entered into a conditional sale and purchase agreement ("SPA") with SkyDorm Industries Sdn Bhd ("Skydorm" or the "Purchaser") for the disposal of:-

(i) all that piece of land and hereditaments measuring 24,377 square metres held under No. Hakmilik PN 6849, Lot 3826, Mukim 13, Daerah Seberang Perai Tengah, Negeri Pulau Pinang together with beverages & canning factories, warehouses and a 3-storey office block erected thereon bearing the address Plot 125, Jln Perindustrian Bukit Minyak 5, Tmn Perindustrian Bukit Minyak, 14100 Simpang Ampat, Seberang Perai, Pulau Pinang ("Subject Property 1"); and

(ii) all that piece of land and hereditaments measuring 7,051 square metres held under No. Hakmilik PN 10414, Lot 7067, Mukim 13, Daerah Seberang Perai Tengah, Negeri Pulau Pinang together with the building erected thereon bearing the address Plot 126, Jln Perindustrian Bukit Minyak 5, Tmn Perindustrian Bukit Minyak, 14100 Simpang Ampat, Seberang Perai, Pulau Pinang ("Subject Property 2");

(collectively, the "Subject Properties")

for a total disposal consideration of RM41.80 million ("Disposal Consideration") to be satisfied entirely via cash ("Proposed Disposal").

Please refer to the attachment for further details of the Proposed Disposal.

This Announcement is dated 10 November 2023.



Please refer attachment below.

Attachments

Rex - Proposed disposal.pdf
179.9 kB



Announcement Info

Company Name REX INDUSTRY BERHAD
Stock Name REX
Date Announced 10 Nov 2023
Category General Announcement for PLC
Reference Number GA1-01112023-00032



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