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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS GUOCOLAND (MALAYSIA) BERHAD ("GLM") PROPOSED DISPOSALS BY GUOMAN HOTEL & RESORT HOLDINGS SDN BHD ("GHRH"), A 70%-OWNED SUBSIDIARY OF GLM, OF ITS ENTIRE INTERESTS IN PD RESORT SDN BHD ("PDR") AND JB PARADE SDN BHD ("JBP") TO GUOCOLAND HOTELS PTE LTD

GUOCOLAND (MALAYSIA) BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
GUOCOLAND (MALAYSIA) BERHAD ("GLM")

PROPOSED DISPOSALS BY GUOMAN HOTEL & RESORT HOLDINGS SDN BHD ("GHRH"), A 70%-OWNED SUBSIDIARY OF GLM, OF ITS ENTIRE INTERESTS IN PD RESORT SDN BHD ("PDR") AND JB PARADE SDN BHD ("JBP") TO GUOCOLAND HOTELS PTE LTD

Reference is made to the announcements dated 17 November 2017, 20 February 2018, 21 February 2018 and 8 March 2018 in relation to the Proposed Disposals (“Announcements”). Unless otherwise stated, words and phrases used in this announcement shall have the same meanings as defined in the aforesaid Announcements.

GLM wishes to announce that the Proposed Disposals have been completed. Accordingly, PDR and JBP have ceased to be subsidiaries of GHRH.

Pursuant to the terms of the PDR SSA and JBP SSA, the PDR Purchase Price is determined to be RM121.074 million and the JBP Purchase Price is determined to be RM108.285 million based on the management accounts of PDR and JBP as at 28 February 2018.

This announcement is dated 5 April 2018.






Announcement Info

Company Name GUOCOLAND (MALAYSIA) BERHAD
Stock Name GUOCO
Date Announced 05 Apr 2018
Category General Announcement for PLC
Reference Number GA1-05042018-00036


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