Announcement Details
Home > News Details

Back
News
16 Feb 2024

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS ORIENTAL HOLDINGS BERHAD ("OHB" OR THE "COMPANY")

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description 
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 payment for the balance of the Purchase Consideration of Bentong Estate totaling RM121.44 million pursuant to the Bentong Estate SPA and the Supplemental Bentong Estate SPA has been effected and settled in full on 16 February 2024, hence marking the completion of the Bentong Estate Acquisition and the Proposals in its entirety.

This announcement is dated 16 February 2024.