Alert share


Price Change Volume
Buy-Q / Buy Sell / Sell-Q
premium Premium Account Only
Live Quote
5 market depth level
Live intraday chart
Open Day Range Ref
Price Change Volume


TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS RESCISSION OF SALE AND PURCHASE AGREEMENT IN RELATION TO THE ACQUISITION OF PROPERTY BY JHM CONSOLIDATION BERHAD FOR A TOTAL CASH CONSIDERATION OF RM27,060,632.20

JHM CONSOLIDATION BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
RESCISSION OF SALE AND PURCHASE AGREEMENT IN RELATION TO THE ACQUISITION OF PROPERTY BY JHM CONSOLIDATION BERHAD FOR A TOTAL CASH CONSIDERATION OF RM27,060,632.20

Reference is made to the announcement dated 11 December 2020 (“Initial Announcement”) in relation to the Acquisition of Property by JHM Consolidation Berhad for a total cash consideration of RM27,060,632.20.

 

Unless otherwise stated, all definitions used throughout this announcement shall have the same meaning as defined in the Initial Announcement.

 

The Board of Directors of the Company wishes to inform that Mforce Bike has proposed and the Company has on 9 February 2021 accepted the proposal and issued a notice to Mforce Bike to rescind the Agreement whereupon Clause 21(a) of the Agreement shall apply (“Notice”). The Notice, issued through the Company’s Solicitors constitute the notice required under Clause 21(a) of the Agreement.

 

The rescission of the Agreement is due to PDC’s rejection of  Mforce Bike’s application for consent to sell and transfer the Property to the Company. Hence, the Conditions Precedent of the Agreement cannot be fulfilled.

 

Pursuant thereto, the Agreement has been rescinded and Mforce Bike shall refund all monies paid towards the Purchase Price of the Property within fourteen (14) days from the receipt of the Notice.

 

This announcement is dated 9 February 2021.






Announcement Info

Company Name JHM CONSOLIDATION BERHAD
Stock Name JHM
Date Announced 09 Feb 2021
Category General Announcement for PLC
Reference Number GA1-09022021-00026


Overview Market Search portfolio More
Overview Market Search Portfolio More
Shariah SettingShariah: Off
Screen ArrangementScreen Arrangement
Recently Viewed