Bursa Announcements

Transactions (Chapter 10 Of Listing Requirements): Related Party Transactions

BackJun 27, 2012
Date Announced
:
27/06/2012  



Type
:
Announcement
Subject
:
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS

Description
:
KPJ HEALTHCARE BERHAD (“KPJ”)

PROPOSED DISPOSAL BY BANDAR BARU KLANG SPECIALIST HOSPITAL SDN BHD, A SUBSIDIARY OF KPJ, OF THE BANDAR BARU KLANG SPECIALIST HOSPITAL BUILDING (NOW KNOWN AS "KPJ KLANG SPECIALIST HOSPITAL BUILDING") (“BBKSH BUILDING”) TO AL-`AQAR HEALTHCARE REIT (“AL-`AQAR”) AS REPRESENTED BY ITS TRUSTEE, AMANAHRAYA TRUSTEES BERHAD (“TRUSTEE”) (“PROPOSED DISPOSAL”)

Announcement Details/Table Section :

This announcement is dated 27 June 2012.

We refer to the announcements dated 9 March 2010, 30 April 2010, 1 December 2010, 2 August 2011 and 11 June 2012 (“Earlier Announcements”) as well as the circular dated 2 December 2010 in relation to the Proposed Disposal (“Circular”)

Unless otherwise stated, the defined terms used throughout this announcement shall have the same meanings as defined in the Earlier Announcements and Circular.

Al-`Aqar, represented by the Trustee, had on 25 June 2012, issued a letter to Bandar Baru Klang Specialist Hospital Sdn Bhd (“BBKSHSB” or the “Vendor”) to which BBKSHSB had replied via a letter dated 26 June 2012, that it is agreeable on the following:-

(i) the issuance of 56,641,000 units amounting to RM55,508,180.00 at the issue price of RM0.98 per unit in the name of the BBKSHSB and/or the BBKSHSB’s nominee and the cash payment of the sum of RM29,441,820.00 by Al-`Aqar to BBKSHSB shall be made on the Completion Date; and

(ii) the difference between the Revised Purchase Consideration and the Original Purchase Consideration amounting to RM8,000,000.00 (“Difference”) shall be paid in cash by Al-`Aqar to BBKSHSB on no later than 30 days from 25 June 2012 or such other date as may be mutually agreed upon between the parties.

Note that subsequent to the date of signing of the Supplemental SPA, a deposit in the sum of RM50,000.00 (“Deposit”) has been paid by Al-`Aqar to the solicitors for the sale and purchase transaction to hold as stakeholders and the Deposit has been released to BBKSHSB on 26 June 2012.

In view of above, on behalf of the Board of Directors of KPJ, AmInvestment Bank Berhad wishes to announce that the Proposed Disposal has been completed on 26 June 2012, following:-

(i) the release of the Deposit to BBKSHSB;

(ii) the issuance of 56,641,000 units amounting to RM55,508,180.00 at the issue price of RM0.98 per unit in the name of the BBKSHSB and/or the BBKSHSB’s nominee; and (iii) the cash payment for the sum of RM29,441,820.00 by Al-`Aqar to BBKSHSB.

KPJ shall make due announcement as and when the Difference is paid by Al-`Aqar to BBKSHSB.