TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS FCW HOLDINGS BERHAD ("FCW" OR THE "COMPANY") PROPOSED ACQUISITION BY URBAN REACH SDN BHD, A 55%-OWNED SUBSIDIARY OF FCW, FROM JKB DEVELOPMENT SDN BHD OF A PARCEL OF LEASEHOLD INDUSTRIAL LAND HELD UNDER PAJAKAN MUKIM 1029, LOT 30487, JALAN GENTING KELANG, MUKIM OF SETAPAK, DISTRICT OF KUALA LUMPUR, WILAYAH PERSEKUTUAN KUALA LUMPUR FOR A TOTAL CASH CONSIDERATION OF RM43.08 MILLION ("PROPOSED ACQUISITION")
| FCW HOLDINGS BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description | FCW HOLDINGS BERHAD ("FCW" OR THE "COMPANY")
PROPOSED ACQUISITION BY URBAN REACH SDN BHD, A 55%-OWNED SUBSIDIARY OF FCW, FROM JKB DEVELOPMENT SDN BHD OF A PARCEL OF LEASEHOLD INDUSTRIAL LAND HELD UNDER PAJAKAN MUKIM 1029, LOT 30487, JALAN GENTING KELANG, MUKIM OF SETAPAK, DISTRICT OF KUALA LUMPUR, WILAYAH PERSEKUTUAN KUALA LUMPUR FOR A TOTAL CASH CONSIDERATION OF RM43.08 MILLION ("PROPOSED ACQUISITION") |
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Reference is made to the Company’s announcements dated 5 October 2023, 28 December 2023 and 24 January 2024 in relation to the Proposed Acquisition (“Announcements”). Unless otherwise stated, all defined terms and abbreviations used in this announcement shall carry the same meaning as those previously defined in the Announcements.
On behalf of the Board, Mercury Securities wishes to announce that Urban Reach and JKB Development had on 5 February 2024 entered into a supplemental letter to the SPA (“Supplemental Letter”) for an extension of the Cut-Off Date by 3 months from 5 February 2024 to 5 May 2024.
The said extension of time was made in order to provide additional time for the Vendor to obtain the requisite written approval of the state authority for the transfer of the Land from the Vendor to the Purchaser, which is one of the conditions precedent needed to be satisfied by the Vendor pursuant to the SPA.
Save as disclosed above, there are no other changes to the terms and conditions of the SPA.
The Supplemental Letter is available for inspection at the registered office of FCW at 29th Floor, Menara JKG, No. 282 Jalan Raja Laut, 50350 Kuala Lumpur during normal business hours from Mondays to Fridays (except public holidays) for a period of 3 months from the date of this announcement.
This announcement is dated 5 February 2024. |
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Announcement Info
| Company Name | FCW HOLDINGS BERHAD |
| Stock Name | FCW |
| Date Announced | 05 Feb 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-05022024-00011 |