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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS ISKANDAR WATERFRONT CITY BERHAD ("IWCITY" OR "THE COMPANY") - JOINT VENTURE; AND - LAND DISPOSAL

ISKANDAR WATERFRONT CITY BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
ISKANDAR WATERFRONT CITY BERHAD ("IWCITY" OR "THE COMPANY")
- JOINT VENTURE; AND
- LAND DISPOSAL

-  ESTABLISHMENT OF A JOINT VENTURE WITH GREENLAND MALAYSIA REAL ESTATE OPERATOR SDN BHD (“GMSB”) (“JOINT VENTURE”)

-  DISPOSAL OF THREE (3) PIECES OF LAND MEASURING IN AGGREGATE APPROXIMATELY 127.92 ACRES HELD BY TEBRAU BAY SDN BHD (“TBSB”), A WHOLLY OWNED SUBSIDIARY OF IWCITY, LOCATED IN MUKIM PLENTONG, DISTRICT OF JOHOR BAHRU, STATE OF JOHOR, TO GREENLAND TEBRAU SDN BHD (“GTSB”) FOR A CASH CONSIDERATION OF RM2,373,079,016 (“DISPOSAL CONSIDERATION”) (“LAND DISPOSAL”)

 

(Unless otherwise stated, the abbreviations and definitions used throughout this announcement shall be the same as those previously defined in the Announcements.)

 

Reference is made to the announcements dated 5 May 2017, 14 July 2017, 19 July 2017, 28 August 2017, 23 January 2018, 23 November 2018, 27 February 2020, 26 August 2020 and 26 February 2021 (“Announcements”).

 

The Board of Directors of IWCITY wishes to announce that pursuant to terms of the 2nd Supplemental Agreement of the Disposal SPA, TBSB and GTSB has mutually agreed to extend the Option Period for a further period of 6 months from 27 August 2021 till 26 February 2022.  

 

This announcement is dated 2 September 2021.






Announcement Info

Company Name ISKANDAR WATERFRONT CITY BERHAD
Stock Name IWCITY
Date Announced 02 Sep 2021
Category General Announcement for PLC
Reference Number GA1-01092021-00139


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