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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 ("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 ("ACQUISITION")

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

 

On behalf of the Board of Directors, M&A Securities Sdn Bhd is pleased to announce that the solicitors of the Company have written to the Company to confirm their receipt of the Penang State Authority’s consent to the sale and transfer of the Property by the Vendor to the Purchaser. With this consent, all the Conditions Precedent as set out in the SPA have been met, and the Acquisition is therefore deemed unconditional.

 

This announcement is dated 16 January 2017.






Announcement Info

Company Name MEGA SUN CITY HOLDINGS BERHAD
Stock Name MEGASUN
Date Announced 16 Jan 2017
Category General Announcement for PLC
Reference Number GA1-16012017-00073




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