Transactions (Chapter 10 Of Listing Requirements) : Related Party Transactions
|Subject||TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
|Description||RIMBUNAN SAWIT BERHAD ("RSB" OR "COMPANY") ACQUISITION OF A PARCEL OF 67.5 HECTARES LAND (WHICH CURRENTLY FORMS PART OF PARENT LOT 248 BLOCK 4 STUNGKOR LAND DISTRICT, LUNDU, KUCHING DIVISION, SARAWAK) TOGETHER WITH A PALM OIL MILL (INCLUDING WORKERS QUARTERS) ERECTED THEREON AND PLANTATION ASSETS BY RSB LUNDU PALM OIL MILL SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF RSB, FROM R H LUNDU PALM OIL MILL SDN BHD, FOR A TOTAL CASH CONSIDERATION OF RM33.7 MILLION ("LUNDU ACQUISITION")|
(Unless otherwise stated, all abbreviations and definitions used herein shall have the same meaning as those used in the Company’s circular dated 10 July 2017 (“Circular”) as well as the announcement dated 18 May 2021 in relation to the Lundu Acquisition)
We refer to the announcements made in relation to the Lundu Acquisition, the latest of which was on 18 May 2021.
On behalf of the Board of RSB, Maybank IB wishes to announce that, following the Director’s Consent and the Superintendent’s Consent where both are the remaining two Conditions Subsequent set out in the Supplemental SPA for the Lundu Acquisition, Lot 306 Block 4 Stungkor Land District has been transferred to RSB Lundu and RSB Lundu has paid the Final Balance Sum to R H Lundu to complete the Lundu Acquisition. Accordingly, the SPA in relation to the Lundu Acquisition has been completed.
This Announcement is dated 3 August 2021.
|Company Name||RIMBUNAN SAWIT BERHAD|
|Date Announced||03 Aug 2021|
|Category||General Announcement for PLC|