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22 Sep 2023
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS ORIENTAL HOLDINGS BERHAD ("OHB" OR THE "COMPANY")
|Subject||TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
ORIENTAL HOLDINGS BERHAD ("OHB" OR THE "COMPANY") (I) ACQUISITION BY OHB OF THE REMAINING EQUITY INTERESTS IT DOES NOT ALREADY OWN IN 3 PLANTATION COMPANIES, NAMELY SELASIH PERMATA SDN BHD, ORIENTAL BOON SIEW (MAURITIUS) PTE LTD AND SOUTHERN PERAK PLANTATIONS SDN BHD ("SHARES ACQUISITIONS"); AND (II) ACQUISITION BY OHB OF PLANTATION ESTATES LOCATED IN PENINSULAR MALAYSIA, FOR A TOTAL CASH CONSIDERATION OF APPROXIMATELY RM1.20 BILLION (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
We refer to the previous announcements and the circular to stockholders dated 15 August 2023 (“Circular”) in relation to the Proposals. Unless otherwise stated, the definitions set out in the Circular shall apply herein.
On behalf of the Board, UOBKH wishes to announce that the payments for the balance of the Purchase Consideration of SPSB, Purchase Consideration of OBS(M) and Purchase Consideration of SPP totaling approximately RM773.53 million pursuant to the SSAs and the Supplemental SSAs have been effected and settled in full on 22 September 2023, hence marking the completion of the Shares Acquisitions on even date.
This announcement is dated 22 September 2023.