Proposed Disposals By KPJ And The Subsidiaries Of KPJ Of Their Interest In:-
- Rumah Sakit Bumi Serpong Damai ("RSBSD") Building - Kluang Utama Specialist Hospital Building - Bandar Baru Klang Specialist Hospital Building
(Collectively Known As The "Properties", Or Singly, The "Property")
To Al-`Aqar KPJ Reit ("Al-`Aqar") For A Total Sale Consideration Of Approximately RM138,770,000 To Be Satisfied Partly By Cash Consideration Of RM83,261,820 And RM55,508,180 By The Issuance Of 56,641,000 New Units In Al-`Aqar At An Issue Price Of RM0.98 Per Unit ("Proposed Disposals")
PROPOSED DISPOSALS BY KPJ AND THE SUBSIDIARIES OF KPJ OF THEIR INTEREST IN:-
- RUMAH SAKIT BUMI SERPONG DAMAI (“RSBSD”) BUILDING - KLUANG UTAMA SPECIALIST HOSPITAL BUILDING - BANDAR BARU KLANG SPECIALIST HOSPITAL BUILDING
(COLLECTIVELY KNOWN AS THE “PROPERTIES”, OR SINGLY, THE “PROPERTY”)
TO AL-`AQAR KPJ REIT (“AL-`AQAR”) FOR A TOTAL SALE CONSIDERATION OF APPROXIMATELY RM138,770,000 TO BE SATISFIED PARTLY BY CASH CONSIDERATION OF RM83,261,820 AND RM55,508,180 BY THE ISSUANCE OF 56,641,000 NEW UNITS IN AL-`AQAR AT AN ISSUE PRICE OF RM0.98 PER UNIT (“PROPOSED DISPOSALS”)
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Announcement Details :
This announcement is dated 30 April 2010.
Reference is made to the announcement dated 9 March 2010.
On behalf of the Board of Directors of KPJ, AmInvestment Bank Berhad (“AmInvestment Bank”), a member of AmInvestment Bank Group, wishes to announce that the subsidiaries of KPJ, namely Bandar Baru Klang Specialist Hospital Sdn Bhd (“BBKSHSB”), Pusat Pakar Kluang Utama Sdn Bhd (“PPKUSB”) and PT Khasanah Putra Jakarta Medica (“PT KPJ Medica”) (collectively, the “Vendors”) had on 30 April 2010 entered into three (3) separate supplemental sale and purchase agreements (“Supplemental SPAs”) with the Trustee, acting on behalf of Al-‘Aqar to vary, amongst others, the following:
(i) the mode and time of payment of the sale consideration such that to include a deposit of RM50,000.00 on each property, namely Bandar Baru Klang Specialist Hospital Building, Kluang Utama Specialist Hospital Building and RSBSD Building to be paid by Al-‘Aqar to the respective Vendor upon the execution of the Supplemental SPAs. The balance sale consideration of each property shall be satisfied on the completion date of the disposal of the respective properties; and
(ii) in respect of Bandar Baru Klang Specialist Hospital Building, BBKSHSB and the Trustee had further varied the satisfaction of the sale consideration to allow for a revaluation of Bandar Baru Klang Specialist Hospital Building to be conducted upon completion of its construction (if necessary) and if there is a variation in the market value of the said property, to allow for variation to the sale consideration of not more than 10% of the original sale consideration of RM85.00 million. Any difference from the original sale consideration shall be settled in cash
Unless otherwise defined, all capitalised expressions shall carry the same meaning as defined in the announcement dated 9 March 2010.
