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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS ADVANCECON HOLDINGS BERHAD ("ADVANCECON" OR THE "COMPANY") ACCEPTANCE OF THE OFFER LETTERS FROM PERBADANAN KEMAJUAN NEGERI SELANGOR BY ADVANCECON MACHINERY SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF ADVANCECON, FOR THE PROPOSED ACQUISITION OF 1 PARCEL OF LEASEHOLD INDUSTRIAL LAND LOCATED AT LOT 21 AND 1 PARCEL OF LEASEHOLD INDUSTRIAL LAND LOCATED AT LOT 23, JALAN KOTA PUTERI 6, KAWASAN INDUSTRI SEKSYEN 6, KOTA PUTERI, BANDAR BATU ARANG, DAERAH GOMBAK ("PROPOSED ACQUISITION")

ADVANCECON HOLDINGS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
ADVANCECON HOLDINGS BERHAD ("ADVANCECON" OR THE "COMPANY")
ACCEPTANCE OF THE OFFER LETTERS FROM PERBADANAN KEMAJUAN NEGERI SELANGOR BY ADVANCECON MACHINERY SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF ADVANCECON, FOR THE PROPOSED ACQUISITION OF 1 PARCEL OF LEASEHOLD INDUSTRIAL LAND LOCATED AT LOT 21 AND 1 PARCEL OF LEASEHOLD INDUSTRIAL LAND LOCATED AT LOT 23, JALAN KOTA PUTERI 6, KAWASAN INDUSTRI SEKSYEN 6, KOTA PUTERI, BANDAR BATU ARANG, DAERAH GOMBAK ("PROPOSED ACQUISITION")

The Board of Directors of Advancecon ("Board") is pleased to announce that Advancecon Machinery Sdn Bhd, a wholly-owned subsidiary of Advancecon, had on 28 February 2018 accepted two (2) separate offer letters from Perbadanan Kemajuan Negeri Selangor dated 20 December 2017 for the Proposed Acquisition of the Lot 21 for a purchase consideration of RM6,518,084.30 ("Lot 21 Offer Letter") and Lot 23 for a purchase consideration of RM7,227,976.64 ("Lot 23 Offer Letter") (collectively, the "Offer Letters"). The total purchase consideration for the Lot 21 and Lot 23 Lands amounting to an aggregate of RM13,746,060.94 ("Purchase Consideration").

Please refer to the attachment for further details on the Proposed Acquisition.

This announcement is dated 28 February 2018.




Please refer attachment below.



Announcement Info

Company Name ADVANCECON HOLDINGS BERHAD
Stock Name ADVCON
Date Announced 28 Feb 2018
Category General Announcement for PLC
Reference Number GA1-28022018-00126




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