(I) ACQUISITION BY KESAS KENANGAN SDN BHD ("KESAS KENANGAN"), A WHOLLY OWNED SUBSIDIARY OF S P SETIA'S WHOLLY OWNED SUBSIDIARY, FUTURECREST (M) SDN BHD ("FUTURECREST"), OF A PIECE OF FREEHOLD LAND MEASURING APPROXIMATELY 948.703 ACRES AND HELD UNDER VARIOUS TITLES SITUATED IN MUKIM OF PULAI, DISTRICT OF JOHOR BAHRU FROM KAWASAN MESTIKA SDN BHD AS VENDOR AND GAN THENG ENTERPRISE SDN BHD AS PROPRIETOR FOR A TOTAL CASH CONSIDERATION OF RM227,290,264.74 ("ACQUISITION"); AND(II) PROPOSED ISSUANCE BY KESAS KENANGAN OF 29,999,998 ORDINARY SHARES OF RM1.00 EACH ("SHARES") AT AN ISSUE PRICE OF RM1.00 PER SHARE AND 70,000,000 CUMULATIVE REDEEMABLE PREFERENCE SHARES OF RM0.01 EACH ("RPS") AT AN ISSUE PRICE OF RM1.00 PER RPS TO FUTURECREST AND TOPASIA PROJECTS SDN BHD ("PROPOSED JOINT VENTURE") Read More
(5-2-2008 KLSE)
