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Circular To Shareholders In Relation To Part A (i) Proposed Disposal Of All Rights, Title And Interests In Relation To The Simunjan Estate Via An Absolute Assignment, Development Costs, Biological Assets, Commercial Rights And All The Fixtures And Fittings Relating Thereto By Rimbunan Sawit Berhad ("RSB") To Tiasa Mesra Sdn Bhd, For A Cash Consideration Of RM150.0 Million; (ii) Proposed 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; And (iii) Proposed Acquisition Of 100,000 Ordinary Shares In Sastat Holdings Sdn Bhd ("SHSB"), Representing The Entire Equity Interest In SHSB, By RSB From Pertumbuhan Abadi Asia Sdn Bhd, Teck Sing Lik Enterprise Sdn Bhd And Tan Sri Datuk Sir Diong Hiew King @ Tiong Hiew King, For A Total Cash Consideration Of RM17.0 Million (Collectively Referred To As "Proposals"); And Part B Independent Advice Letter From Mercury Securities Sdn Bhd To The Non-Interested Shareholders Of RSB In Relation To The Proposals

BackJul 10, 2017
Subject CIRCULAR TO SHAREHOLDERS IN RELATION TO PART A (I) PROPOSED DISPOSAL OF ALL RIGHTS, TITLE AND INTERESTS IN RELATION TO THE SIMUNJAN ESTATE VIA AN ABSOLUTE ASSIGNMENT, DEVELOPMENT COSTS, BIOLOGICAL ASSETS, COMMERCIAL RIGHTS AND ALL THE FIXTURES AND FITTINGS RELATING THERETO BY RIMBUNAN SAWIT BERHAD ("RSB") TO TIASA MESRA SDN BHD, FOR A CASH CONSIDERATION OF RM150.0 MILLION; (II) PROPOSED 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; AND (III) PROPOSED ACQUISITION OF 100,000 ORDINARY SHARES IN SASTAT HOLDINGS SDN BHD ("SHSB"), REPRESENTING THE ENTIRE EQUITY INTEREST IN SHSB, BY RSB FROM PERTUMBUHAN ABADI ASIA SDN BHD, TECK SING LIK ENTERPRISE SDN BHD AND TAN SRI DATUK SIR DIONG HIEW KING @ TIONG HIEW KING, FOR A TOTAL CASH CONSIDERATION OF RM17.0 MILLION (COLLECTIVELY REFERRED TO AS "PROPOSALS"); AND PART B INDEPENDENT ADVICE LETTER FROM MERCURY SECURITIES SDN BHD TO THE NON-INTERESTED SHAREHOLDERS OF RSB IN RELATION TO THE PROPOSALS



 

 

 

Announcement Info

Company Name RIMBUNAN SAWIT BERHAD
Stock Name RSAWIT
Date Announced 10 Jul 2017
Category Document Submission
Reference Number DCS-10072017-00002

Attachments

  1. Rimbunan_Sawit_Berhad_-_Circular_dated_10_July_2017.pdf (Size: 2,455,111 bytes)