PROPOSED DISPOSAL BY NOBLE ACCORD SDN. BHD. ("NASB"), A WHOLLY OWNED SUBSIDIARY OF BOLTON, OF ALL THAT PARCEL OF FREEHOLD LAND HELD UNDER H. S. (D) 80171, PT NO. 68, SECTION 69, BANDAR KUALA LUMPUR, DAERAH WILAYAH PERSEKUTUAN, TOGETHER WITH AN EXISTING BUILDING KNOWN AS "HOTEL MIDAH" ERECTED THEREON, FOR A MAXIMUM CASH CONSIDERATION OF RM29.0 MILLION ("PROPOSED HOTEL MIDAH DISPOSAL")- PROPOSED DISPOSAL BY BOLTON OF ITS 100% EQUITY INTEREST IN NASB FOR A TOTAL NOMINAL CASH CONSIDERATION OF RM1,000 ("PROPOSED NASB DISPOSAL")("PROPOSED DISPOSALS")
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Further to the Company's announcements made on 28 September 2007 and 27 November 2007 pertaining to the Proposed Disposals, we wish to announce that pursuant to the Sale and Purchase Agreement and the Share Sale Agreement both dated 28 September 2007 entered into with EMZED Travel & Tours Sdn. Bhd. (Company No. 231333-A) (“EMZED”) for the Proposed Disposals, Bolton and NASB have agreed to extend the Extended Completion Period to 31 March 2008. All other terms and conditions in the agreements shall remain in full force and effect.
(KLSE 18-3-2008)
