TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS
Description
PROPOSED ACQUISITION OF A PARCEL OF VACANT COMMERCIAL LAND HELD UNDER H.S.(D) 501209, LOT NO. PTD 163189, MUKIM OF TEBRAU, DISTRICT OF JOHOR BAHRU, JOHOR DARUL TAKZIM ("LAND") BY KUMPULAN PERUBATAN (JOHOR) SDN BHD ("KPJSB"), A WHOLLY-OWNED SUBSIDIARY OF KPJ, FROM JOHOR LAND BERHAD ("JLB" OR "VENDOR"), A SUBSIDIARY OF JOHOR CORPORATION("JCORP" OR "REGISTERED OWNER"), FOR A TOTAL CASH CONSIDERATION OF RM 45,000,000 ("PURCHASE PRICE") ("PROPOSED ACQUISITION OF LAND")
We refer to the announcement on 16 May 2012 in relation to the Proposed Acquisition of Land. The Board wishes to announce that Renalcare Perubatan (M) Sdn Bhd ("Renalcare"), being the nominee of KPJSB has entered into a conditional sale and purchase agreement ("SPA") with JLB and JCorp (collectively referred to hereon as "Parties") on 23 July 2012 in relation to the Proposed Acquisition of Land.
JLB and JCorp have expressly agreed for Renalcare t enter into the SPA in lieu of KPJSB and any payments made towards obligations of KPJSB as stipulated in the Offer Letter shall be deemed to have been made by Renalcare.
The salient terms and conditions of the SPA are as attached.
