Proposed Disposal by the Subsidiaries of kPJ Healthcare Berhad ("KPJ") of Their Interests In:- - Bandar Baru Klang Specialist Hospital Building; - Kluang Utama Specialist Hospital Building; and - Rumah Sakit Bumi Serpong Damai Building (Collectively Referred to As "properties") to Al-`Aqar Kpj Reit ("Al-`Aqar") For A Total Sale Consideration of RM138,770,000 To Be Satisfied Partly by Cash Consideration of RM83,261,820 And Partly By The Issuance of 56,641,000 New Units In Al-`aqar At An Issue Price Of RM0.98 Per Unit ("Propsed Disposals")
PROPOSED DISPOSAL BY THE SUBSIDIARIES OF KPJ HEALTHCARE BERHAD (“KPJ”) OF THEIR INTERESTS IN:-
- BANDAR BARU KLANG SPECIALIST HOSPITAL BUILDING; - KLUANG UTAMA SPECIALIST HOSPITAL BUILDING; AND - RUMAH SAKIT BUMI SERPONG DAMAI BUILDING
(COLLECTIVELY REFERRED TO AS “PROPERTIES”)
TO AL-`AQAR KPJ REIT (“AL-`AQAR”) FOR A TOTAL SALE CONSIDERATION OF RM138,770,000 TO BE SATISFIED PARTLY BY CASH CONSIDERATION OF RM83,261,820 AND PARTLY 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 1 December 2010.
Reference is made to the announcements dated 9 March 2010 and 30 April 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 Trustee, on behalf of Al-‘Aqar, had on 1 December 2010 by way of separate exchange of letter with PT Khasanah Putra Jakarta Medica (“PT KPJ Medica”) (the “Vendor”) in relation to the Proposed Disposals to vary, amongst others, the following:
(i) In respect of the sale and purchase agreements for Rumah Sakit Bumi Serpong Damai Building:-
(a) the sale consideration for the property is to be made in Indonesia Rupiah equivalent to Ringgit Malaysia Fifty Million and Two Hundred Seventy Thousand (MYR50,270,000) only; and(b) procedure to fulfill the condition precedent wherein the Vendor shall have made and/or caused an application to be made to the consent/approval of Head of Regional Office of National Land Agency of Banten Province (Kepala Kantor Wilayah/Kakanwil BPN Propinsi Banten) or other competent Land Registry for the Transfer of the Property from the Vendor to the Purchaser or its nominated subsidiaries, shall be varied and amended to be changed to become a condition subsequent which is to be fulfilled by the Vendor within six (6) months from the Effective Date (as defined in the sale and purchase agreement). Accordingly the parties hereto hereby agree that in the event the Vendor shall be unable to pay to fulfill the Said Condition on or before the expiry of six (6) months from the Effective Date, the Vendor shall be granted an automatic extension of time of three (3) months from such date to enable the Vendor to comply with the Said Condition in the manner set out in the Sale and Purchase Agreement.
Unless otherwise defined, all capitalised expressions shall carry the same meaning as defined in the announcement dated 9 March 2010.
