Acquisition By Kumpulan Perubatan (Johor) Sdn. Bhd. ("KPJSB"), a Wholly-owned Subsidiary of KPJ of 40,800,000 Ordinary Shares of RM1.00 Each, Representing 51% Equity Interest In SMC Healthcare Sdn Bhd ("SMCH") From Sabah Medical Centre Sdn Bhd ("SMC") For A Cash Consideration Of RM51,000,000 ("Proposed Acquisition")
ACQUISITION BY KUMPULAN PERUBATAN (JOHOR) SDN. BHD. (“KPJSB”), A WHOLLY-OWNED SUBSIDIARY OF KPJ OF 40,800,000 ORDINARY SHARES OF RM1.00 EACH, REPRESENTING 51% EQUITY INTEREST IN SMC HEALTHCARE SDN BHD (“SMCH”) FROM SABAH MEDICAL CENTRE SDN BHD (“SMC”) FOR A CASH CONSIDERATION OF RM51,000,000 (“PROPOSED ACQUISITION”)
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The Board of Directors of KPJ (“Board”) wishes to announce that KPJSB, which is a wholly-owned subsidiary of KPJ, had on 6 January 2010 entered into the following agreements:-
(a) a conditional Share Sale Agreement (“SSA”) with SMC for the acquisition of 40,800,000 ordinary shares of RM1.00 each (“Sale Shares”) which is equivalent to 51% of equity interest in SMCH from SMC for a cash consideration of RM51,000,000 (“Purchase Consideration”);
(b) Shareholders Agreement with SMC to regulate their relationship as shareholders of SMCH; and
(c) Management Agreement with SMCH for the appointment of KPJ to manage the existing private and the new private hospitals of SMCH.
The details of the announcement are as per attached.
