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Transactions (Chapter 10 Of Listing Requirements):Related Party Transactions

BackMar 12, 2013
Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description MALAYSIA BUILDING SOCIETY BERHAD (“MBSB” OR “COMPANY”)

PROPOSED ACQUISITION BY AMBANG HARTAMAS SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF MBSB, OF A PROPOSED OFFICE BUILDING TO BE DEVELOPED FOR A TOTAL CASH CONSIDERATION OF RM239,236,750 (“PROPOSED ACQUISITION”)

 

We refer to the announcement made by RHB Investment Bank Berhad (“RHB Investment Bank”) on behalf of the Board of Directors of MBSB (“Board”) on 12 December 2012 in relation to the Proposed Acquisition (“Announcement”). Unless otherwise stated, the terms used herein shall have the same meaning as defined in the Announcement.

 

On behalf of the Board, RHB Investment Bank wishes to announce that the condition precedent of the SPA as set out in Section 2.7.2(a)(ii)(cc) of the Announcement have been fulfilled/obtained in accordance with the terms of the SPA on 8 March 2013.

 

In addition, the Parties had on 26 February 2013, 8 March 2013 and 11 March 2013, by way of exchange of letters (“Letters”), mutually agreed that:-

 

(i)               i. the period for the fulfillment of the conditions precedent of the SPA as set out in Sections 2.7.2(a)(i) and 2.7.2(a)(ii)(aa)-(bb) of the Announcement shall be extended for an additional period of 45 days from 12 March 2013 until 25 April 2013; and

 

 

(ii)                ii. the condition precedent of the SPA as set out in Section 2.7.2(a)(ii)(dd) of the Announcement shall be waived subject to PJ Sentral undertaking to deliver the completion inspection checklist to Ambang Hartamas no later than three (3) months prior to the delivery of vacant possession of the Building. In this regard, PJ Sentral had vide its letter dated 11 March 2013 provided the said undertaking to Ambang Hartamas.

 

Accordingly, the submission of the Building Plans to the appropriate authorities shall also be deferred until the fulfillment of the conditions precedent set out in (i) above.

 

The remaining conditions precedent as set out in Sections 2.7.2(a)(iii) to (vii) of the Announcement remains to be fulfilled/ obtained within 12 months from the date of the SPA, subject to an automatic extension of six (6) months thereafter and such further extended period as may be agreed in writing between the Parties.

 

The Letters are available for inspection at the registered office of MBSB at 11th Floor, Wisma MBSB, 48 Jalan Dungun, Damansara Heights, 50490 Kuala Lumpur during normal business hours from Mondays to Fridays (except public holidays) for a period of three (3) months from the date of this Announcement.

 

 

This announcement is dated 12 March 2013.

 


Announcement Info

Company Name MALAYSIA BUILDING SOCIETY BERHAD  
Stock Name MBSB    
Date Announced 12 Mar 2013  
Category General Announcement
Reference No MI-130312-51907