| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description |
RIMBUNAN SAWIT BERHAD ("RSB" OR "COMPANY") 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 ("PROPOSED 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 as well as the announcement dated 21 December 2018 in relation to the Proposed Lundu Acquisition)
We refer to the announcements made in relation to the Proposed Lundu Acquisition, the latest of which was on 20 February 2019.
On behalf of the Board of Directors of RSB, Maybank IB wishes to announce that the respective parties to the Lundu Acquisition SPA have mutually agreed to extend a period of eighteen (18) months from 19 August 2020 until 18 February 2022 (“Extension”) to fulfil the Conditions Subsequent.
The letter of Extension is available for inspection at the registered office of the Company at North Wing, Menara Rimbunan Hijau, 101, Pusat Suria Permata, Jalan Upper Lanang, 96000, Sibu, Sarawak, Malaysia during normal business hours from Monday to Friday (except public holidays) for a period of 3 months from the date of this Announcement.
This announcement is dated 18 August 2020.
| Company Name | RIMBUNAN SAWIT BERHAD |
| Stock Name | RSAWIT |
| Date Announced | 18 Aug 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-18082020-00064 |