PROPOSED ACQUISITION BY KUMPULAN PERUBATAN (JOHOR) SDN BHD ("KPJSB"), A WHOLLY-OWNED SUBSIDIARY OF KPJ, OF UP TO 51% EQUITY INTEREST IN JETA GARDENS WATERFORD TRUST ("JGWT") FOR A TOTAL CASH CONSIDERATION OF UP TO RM19,000,000 ("PROPOSED ACQUISITION")
PROPOSED ACQUISITION BY KUMPULAN PERUBATAN (JOHOR) SDN BHD (“KPJSB”), A WHOLLY-OWNED SUBSIDIARY OF KPJ, OF UP TO 51% EQUITY INTEREST IN JETA GARDENS WATERFORD TRUST (“JGWT”) FOR A TOTAL CASH CONSIDERATION OF UP TO RM19,000,000 (“PROPOSED ACQUISITION”)
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The Board of Directors of KPJ (“Board”) wishes to announce that the Company’s wholly-owned subsidiary, KPJSB, has on 22 September 2010, entered into a conditional Subscription Deed (“Deed”) for the acquisition of up to 367,605 new ordinary units in JGWT (representing up to 51% equity interest in JGWT) and up to 3,308,415 10-year convertible notes convertible into new ordinary units in JGWT (“Convertible Notes”) to be undertaken in two (2) tranches for a total cash consideration of up to RM19,000,000 (“Purchase Consideration”) (“Proposed Acquisition”).
The details of the Proposed Acquisition are as per Attached.