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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS ATLAN HOLDINGS BHD ("ATLAN" OR THE "COMPANY") PROPOSED ACQUISITION OF A HOTEL AND ITS MANAGEMENT COMPANY ("PROPOSED ACQUISITIONS")

ATLAN HOLDINGS BHD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
ATLAN HOLDINGS BHD ("ATLAN" OR THE "COMPANY")

PROPOSED ACQUISITION OF A HOTEL AND ITS MANAGEMENT COMPANY ("PROPOSED ACQUISITIONS")

On behalf of the Board of Directors of Atlan, Affin Hwang Investment Bank Berhad wishes to announce that Atlan had, on 20 October 2022, entered into the following conditional agreements:

 

(a)            property sale and purchase agreement with Belle Isle Property Ltd (“BIP”) for the purchase of The Cornwall Hotel Spa & Estate located in the United Kingdom (“Property”);

 

(b)            asset acquisition agreement with BIP for the purchase of all of BIP’s existing assets and liabilities which relate to the Property’s operations; and

 

(c)            share sale and purchase agreement with Mark Trevor Rudrum for the acquisition of the entire issued share capital of Belle Isle Hotels (Cornwall) Management Ltd.

 

(collectively referred to as the “Proposed Acquisitions”)

 

Further information on the Proposed Acquisitions is set out in the attachment.

 

 

This announcement is dated 20 October 2022.




Please refer attachment below.



Announcement Info

Company Name ATLAN HOLDINGS BHD
Stock Name ATLAN
Date Announced 20 Oct 2022
Category General Announcement for PLC
Reference Number GA1-20102022-00035




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