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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS MEGA SUN CITY HOLDINGS BERHAD (FORMERLY KNOWN AS IDEAL SUN CITY HOLDINGS BERHAD) (MEGA SUN OR COMPANY) PROPOSED ACQUISITION BY IDEAL CONSORTIUM SDN BHD, A WHOLLY OWNED SUBSIDIARY OF MEGA SUN FROM IDEAL CONCEPT INTELLIGENCE SDN BHD OF 40 UNITS OF STRATIFIED COMMERCIAL SPACE KNOWN AS THE C.E.O. LOCATED AT LOT 20060 HELD UNDER PAJAKAN NEGERI HAKMILIK NO. 9034, MUKIM 13, DAERAH TIMOR LAUT, PENANG FOR A TOTAL CONSIDERATION OF RM14,915,000 (PROPOSED ACQUISITION)

MEGA SUN CITY HOLDINGS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
MEGA SUN CITY HOLDINGS BERHAD (FORMERLY KNOWN AS IDEAL SUN CITY HOLDINGS BERHAD) (MEGA SUN OR COMPANY)

PROPOSED ACQUISITION BY IDEAL CONSORTIUM SDN BHD, A WHOLLY OWNED SUBSIDIARY OF MEGA SUN FROM IDEAL CONCEPT INTELLIGENCE SDN BHD OF 40 UNITS OF STRATIFIED COMMERCIAL SPACE KNOWN AS THE C.E.O. LOCATED AT LOT 20060 HELD UNDER PAJAKAN NEGERI HAKMILIK NO. 9034, MUKIM 13, DAERAH TIMOR LAUT, PENANG FOR A TOTAL CONSIDERATION OF RM14,915,000 (PROPOSED ACQUISITION)

(Unless otherwise stated, all abbreviations used herein shall have the same meaning as those mentioned in the earlier announcements in relation to the Proposed Acquisition)

On behalf of the Company, M&A Securities wishes to announce that the Vendor, the Landowner and the Purchaser have mutually agreed to an extension of additional 3 months to fulfil the Conditions Precedent of the SPA. The Cut-Off Date as defined in the SPA is extended till 22 January 2017.

All other terms and conditions of the SPA shall remain unchanged.

This announcement is dated 21 October 2016.






Announcement Info

Company Name MEGA SUN CITY HOLDINGS BERHAD
Stock Name MEGASUN
Date Announced 21 Oct 2016
Category General Announcement for PLC
Reference Number GA1-21102016-00034




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