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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS PROPOSED ACQUISITION BY PARAGON BUSINESS HUB SDN BHD (PBHSB), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, OF ONE (1) PIECE OF FREEHOLD LAND HELD UNDER GERAN 80943 LOT 2699 OF MUKIM PLENTONG, DISTRICT OF JOHOR BAHRU, STATE OF JOHOR FOR A PURCHASE CONSIDERATION OF RM71.5 MILLION TO BE SATISFIED IN CASH ("PROPOSED ACQUISITION")

PARAGON GLOBE BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
PROPOSED ACQUISITION BY PARAGON BUSINESS HUB SDN BHD (PBHSB), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, OF ONE (1) PIECE OF FREEHOLD LAND HELD UNDER GERAN 80943 LOT 2699 OF MUKIM PLENTONG, DISTRICT OF JOHOR BAHRU, STATE OF JOHOR FOR A PURCHASE CONSIDERATION OF RM71.5 MILLION TO BE SATISFIED IN CASH ("PROPOSED ACQUISITION")

The Board of Directors of Paragon Globe Berhad (“Board”) wishes to announce that one of its wholly-owned subsidiary, Paragon Business Hub Sdn Bhd ("PBHSB") has today entered into Sale and Purchase Agreements ("SPA" or "Agreement”) for the proposed acquisition of one (1) piece of freehold land held under Geran 80943 Lot 2699 of Mukim Plentong, District of Johor Bahru, State of Johor, measuring approximately 42.2896 hectares (4,552,014.66 square foot) (“Land”) for a total consideration of Ringgit Malaysia Seventy One Million and Five Hundred Thousand (RM71,500,000.00) only (“Purchase Consideration”) to be satisfied in Cash.

 

This Announcement is dated 9 November 2022.




Please refer attachment below.



Announcement Info

Company Name PARAGON GLOBE BERHAD
Stock Name PGLOBE
Date Announced 09 Nov 2022
Category General Announcement for PLC
Reference Number GA1-02112022-00042




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