TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS DISPOSAL OF 6 PARCELS OF FREEHOLD LANDS MEASURING APPROXIMATELY 559,139.90 SQUARE METRES (138.17 ACRES) IN TOTAL, ALL IN PEKAN SUNGAI GADUT, DAERAH SEREMBAN, NEGERI SEMBILAN BY BRIGHT TERM SDN BHD, A WHOLLY OWNED SUBSIDIARY OF LAND & GENERAL BHD ("LGB" OR "THE COMPANY") TO VIVAFIRST SDN BHD, A WHOLLY OWNED SUBSIDIARY OF LAGENDA PROPERTIES BHD ("THE DISPOSAL")
| LAND & GENERAL BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | DISPOSAL OF 6 PARCELS OF FREEHOLD LANDS MEASURING APPROXIMATELY 559,139.90 SQUARE METRES (138.17 ACRES) IN TOTAL, ALL IN PEKAN SUNGAI GADUT, DAERAH SEREMBAN, NEGERI SEMBILAN BY BRIGHT TERM SDN BHD, A WHOLLY OWNED SUBSIDIARY OF LAND & GENERAL BHD ("LGB" OR "THE COMPANY") TO VIVAFIRST SDN BHD, A WHOLLY OWNED SUBSIDIARY OF LAGENDA PROPERTIES BHD ("THE DISPOSAL") |
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We refer to the Company’s announcement dated 20 March 2025 in relation to the Disposal. Unless otherwise stated, all definitions and terms used in this announcement shall have the same meanings as defined in the announcement dated 20 March 2025.
The Board of Directors of LGB wishes to announce that Bright Term Sdn Bhd, a wholly-owned subsidiary of LGB, has received the Corporate Guarantee dated 21 March 2025 from Lagenda Properties Berhad, to secure the due compliance and performance by its subsidiary Vivafirst Sdn Bhd of its obligations under the SPA and the due payment in respect of the balance Disposal Price. Pursuant to the terms of the SPA, the Disposal has become unconditional and shall be deemed completed on 21 March 2025.
This announcement is dated 21 March 2025. |
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Announcement Info
| Company Name | LAND & GENERAL BERHAD |
| Stock Name | L&G |
| Date Announced | 21 Mar 2025 |
| Category | General Announcement for PLC |
| Reference Number | GA1-21032025-00098 |