Transactions (Chapter 10 Of Listing Requirements) : Non Related Party Transactions

BackJun 30, 2016

 

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description

SALCON BERHAD (SALCON OR THE COMPANY)
PROPOSED ACQUISITION BY SALCON DEVELOPMENT (AUSTRALIA) PTY LTD, A WHOLLY-OWNED SUBSIDIARY OF SALCON DEVELOPMENT SDN BHD, WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF SALCON, OF ALL THAT LAND LOCATED AT 16-22 CLAREMONT STREET, SOUTH YARRA, VICTORIA, AUSTRALIA FROM K. & E. ROGERS PTY LTD FOR A TOTAL CASH CONSIDERATION OF AUD37,880,000.00

The Board of Directors of Salcon wishes to announce that Salcon Development  (Australia) Pty Ltd (“SDA”), a wholly-owned subsidiary of Salcon Development Sdn Bhd, which in turn is a wholly-owned subsidiary of Salcon, has on 29 June 2016 entered into a Contract of Sale (“Contract of Sale”) with K. & E. Rogers Pty Ltd (ACN 004215061) (“the Vendor”) to acquire all that land (including all improvements and fixtures) measuring approximately 2,125 m2 located at 16-22 Claremont Street, South Yarra, Victoria, Australia together with all chattels, plant and equipment owned by the Vendor (“the Property”) and subject to the easements specified in the Contract of Sale but otherwise free from encumbrances for a total cash consideration of AUD37,880,000.00  or RM113,935,464 (based on an exchange rate of AUD1=RM3.0078 as at 29 June 2016) (“Purchase Consideration”) (“the Proposed Acquisition”).

Please refer to the attachment for further details on the Proposed Acquisition.
 

 

Announcement Info

Company Name SALCON BERHAD
Stock Name SALCON
Date Announced 30 Jun 2016
Category General Announcement for PLC
Reference Number GA1-30062016-00082

Attachments

  1. Salcon_Announcement_Acquisition_of_Land_in_Australia.pdf (Size: 183,726 bytes)