TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS

Reference Number  : GA1-07052018-00086 

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS WZ SATU BERHAD (“WZ SATU” OR THE “COMPANY”) ACQUISITION OF THE ENTIRE ORDINARY EQUITY INTEREST OF CEKAP SEMENANJUNG SDN BHD (“CEKAP SEMENANJUNG”) FOR A PURCHASE CONSIDERATION OF RM25.0 MILLION (“ACQUISITION”)

Company Name Stock Name Date Announced
WZ SATU BERHAD WZSATU 07 MAY 2018
WZ SATU BERHAD

 

 

 

 

 

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
WZ SATU BERHAD ("WZ SATU" OR THE "COMPANY")

ACQUISITION OF THE ENTIRE ORDINARY EQUITY INTEREST OF CEKAP SEMENANJUNG SDN BHD ("CEKAP SEMENANJUNG") FOR A PURCHASE CONSIDERATION OF RM25.0 MILLION ("ACQUISITION")

We refer to the announcement dated 10 February 2017 in relation to the Acquisition (“Initial Announcement”) as well as the subsequent announcements dated 14 February 2017, 7 April 2017, 13 April 2017, 25 April 2017, 5 May 2017, 28 September 2017, 5 October 2017, 30 October 2017, 28 March 2018 and 13 April 2018. Unless otherwise defined, capitalised terms used in this announcement have the same meanings as those given to them in the Initial Announcement.

On behalf of the Board, HLIB wishes to announce that as of 4 May 2018, being the date of expiry of the extended Conditional Completion Period, the Target Group has yet to obtain the necessary approvals for the final parcel of the Project. As such, the MEBPA has yet to become unconditional in accordance with its terms within the extended Conditional Completion Period under the SSA.

The Company is presently in discussions with the Vendors and any development on the Acquisition will be announced to Bursa Securities in due course.

This announcement is dated 7 May 2018.