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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS GRAND-FLO BERHAD ("GRAND-FLO" OR THE "COMPANY") PROPOSED ACQUISITION

GRAND-FLO BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
GRAND-FLO BERHAD ("GRAND-FLO" OR THE "COMPANY")

PROPOSED ACQUISITION

On behalf of the Board of Directors of Grand-Flo, AmInvestment Bank Berhad wishes to announce that Innoceria Sdn Bhd, a wholly-owned subsidiary of the Company, had on 24 February 2020 entered into a land and development purchase agreement with NCT United Development Sdn Bhd for the proposed acquisition of a parcel of freehold land identified as Lot PT 65076, Mukim of Dengkil, District of Sepang, State of Selangor Darul Ehsan held under HSD 51646, which is currently undertaking an ongoing development project known as the Acacia Residences, comprising 428 units of serviced apartments and 50 units of affordable serviced apartments as well as three (3) units of retail lots, for a total cash consideration of RM17.00 million  (“Proposed Acquisition”).

 

Further details of the Proposed Acquisition are set out in the attachment.

 

This announcement is dated 24 February 2020.




Please refer attachment below.



Announcement Info

Company Name GRAND-FLO BERHAD
Stock Name GRANFLO
Date Announced 24 Feb 2020
Category General Announcement for PLC
Reference Number GA1-21022020-00042




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