Transactions (Chapter 10 Of Listing Requirements) : Non Related Party Transactions
| 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 ("SDA"), 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 ("PROPOSED ACQUISITION") |
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Reference is made to the Company’s announcements dated 30 June 2016 and 5 July 2016 in relation to the Proposed Acquisition. The Board of Directors of Salcon wishes to inform that in accordance with the terms of the Contract of Sale dated 29 June 2016 (“COS”), SDA has exercised its right to extend the settlement date as stated in the COS to 29 March 2017 (“Extension”). The settlement date is defined in the COS as the date which is 6 months from the date of COS. Accordingly, barring any unforeseen circumstances, the Proposed Acquisition is expected to be completed by the first quarter of 2017. The Extension is not expected to have any effect on the earnings per share, net assets per share and gearing of the Company for the financial year ending 31 December 2016 and 31 December 2017. This announcement is dated 14 December 2016. |
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Announcement Info
| Company Name | SALCON BERHAD |
| Stock Name | SALCON |
| Date Announced | 14 Dec 2016 |
| Category | General Announcement for PLC |
| Reference Number | GA1-14122016-00003 |