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Transactions (Chapter 10 of Listing Requirements) : Non Related Party Transactions
Type | Announcement |
Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
Description |
HUA YANG BERHAD ("HYB" or the "Company") (1) Proposed acquisition of company by Hua Yang Bhd (2) Proposed acquisition of Land by G Land Development Sdn Bhd |
The Board of Directors of HYB wishes to announce that the Company (“HYB”) had today entered into a conditional Shares Sales Agreement (SSA) with Phuah Cheng Peng and Ng Kok Kheng to acquire its entire paid up share capital of G Land Development Sdn Bhd (“GLDSB”), a company incorporated in Malaysia with its registered office at G-15 Kompleks Sempilai Jaya, Jalan Sempilai, 13700 Seberang Jaya, Penang and its business address at No. 2473 & 2474, Jalan Kulim, 14000 Bukit Mertajam, Penang for a total cash consideration of RM16,552,338.51 (the “Proposed Acquisition 1”). Upon completion of Proposed Acquisition 1, wholly owned subsidiary of the Company, GLDSB shall entered into conditional Sale and Purchase Agreement (SPA) with GIM Standard Development Sdn Bhd (“Vendor” or “GIM”) a company incorporated in Malaysia with its registered office at G-15 Kompleks Sempilai Jaya, Jalan Sempilai, 13700 Seberang Jaya, Penang and its business address at No. 2473 & 2474, Jalan Kulim, 14000 Bukit Mertajam, Penang for the purpose of acquiring 6 parcel of freehold land more particularly described below, for a total cash consideration of RM25,000,000.00 (“Purchase Price”) (the “Proposed Acquisition 2”). Further details of the Proposed Acquisition 1 and 2 are set out in the enclosed file. This announcement is dated 4 December 2015. |
Please refer attachment below.
Announcement Info
Company Name | HUA YANG BERHAD |
Stock Name | HUAYANG |
Date Announced | 04 Dec 2015 |
Category | General Announcement for PLC |
Reference Number | GA1-04122015-00057 |
Attachments
- Acquisition_of_Prai_land-8_59.pdf (Size: 172,774 bytes)