TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS
Description
KPJ HEALTHCARE BERHAD (“KPJ” OR ”COMPANY”)
(I) PROPOSED DISPOSAL OF TWO (2) PARCELS OF FREEHOLD LANDS TOGETHER WITH BUILDINGS ERECTED THEREON (COLLECTIVELY, “PROPERTIES”) BY PUTERI NURSING COLLEGE SDN BHD, A WHOLLY OWNED SUBSIDIARY OF KPJ (“PNCSB” OR “VENDOR”) TO AL-`AQAR HEALTHCARE REIT (“AL-`AQAR” OR “REIT”) FOR A TOTAL CONSIDERATION OF RM77,800,000 (“PROPOSED DISPOSAL”); AND
(II) PROPOSED LEASEBACK OF THE PROPERTIES TO PNCSB AFTER THE COMPLETION OF THE PROPOSED DISPOSAL SUBJECT TO THE TERMS AND CONDITIONS OF THE LEASE AGREEMENT (“PROPOSED LEASEBACK”)
(COLLECTIVELY REFERRED TO AS “PROPOSALS”)
This announcement is dated 3 October 2014.
On behalf of the Board of Directors of KPJ, AmInvestment Bank Berhad (“AmInvestment Bank”), wishes to announce that PNCSB, had on 3 October 2014 entered into a sale and purchase agreement (“SPA”) with AmanahRaya Trustees Berhad (“Trustee” or “Purchaser”), on behalf of Al-`Aqar, to dispose the Properties for a total disposal consideration of RM77,800,000 (“Disposal Consideration”) upon the terms and conditions of the SPA ("Proposed Disposal").
Upon completion of the Proposed Disposal, PNCSB will enter into a lease agreement (“Lease Agreement”) with Al-`Aqar, represented by its Trustee, and Damansara REIT Managers Sdn Berhad, being the manager of Al-`Aqar (“Manager”), for the lease of the Properties to PNCSB upon terms and conditions of the Lease Agreement to be agreed between the aforesaid parties ("Proposed Leaseback").
The Proposed Disposal and Proposed Leaseback is collectively referred to as "Proposals".
For further details on the Proposals, kindly refer to the attachment.
