PROPOSED ACQUISITION BY JANAHASIL SDN BHD (“JSB” OR “THE PURCHASER”), A WHOLLY-OWNED SUBSIDIARY OF KDU COLLEGE SDN BHD, WHICH IS, IN TURN, A 85% OWNED SUBSIDIARY OF THE COMPANY, OF A 10-ACRE FREEHOLD AGRICULTURAL LAND FORMING PART OF THE LAND HELD UNDER H.S. (D) 450559 NO. LOT PTD 153275 IN MUKIM PULAI, DAERAH JOHOR BAHRU, JOHOR DARUL TAKZIM FROM NUSAJAYA RISE SDN BHD AND UEM LAND SDN BHD AT A TOTAL CASH CONSIDERATION OF RM13,068,000.00
Contents:
JSB, a wholly-owned subsidiary of KDU College Sdn Bhd, which is, in turn, a 85% owned subsidiary of Paramount, has on even date entered into a Sale and Purchase Agreement (“SPA”) with Nusajaya Rise Sdn Bhd (Nusajaya Rise) and UEM Land Sdn Bhd (UEM Land), a wholly-owned subsidiary of UEM World Berhad, for the acquisition of a 10-acre freehold agricultural land forming part of the land held under H.S. (D) 450559 No. Lot PTD 153275 in Mukim Pulai, Daerah Johor Bahru, Johor Darul Takzim at a total cash consideration of RM13,068,000.00.
Contents:
JSB, a wholly-owned subsidiary of KDU College Sdn Bhd, which is, in turn, a 85% owned subsidiary of Paramount, has on even date entered into a Sale and Purchase Agreement (“SPA”) with Nusajaya Rise Sdn Bhd (Nusajaya Rise) and UEM Land Sdn Bhd (UEM Land), a wholly-owned subsidiary of UEM World Berhad, for the acquisition of a 10-acre freehold agricultural land forming part of the land held under H.S. (D) 450559 No. Lot PTD 153275 in Mukim Pulai, Daerah Johor Bahru, Johor Darul Takzim at a total cash consideration of RM13,068,000.00.
(KLSE 24-3-2008)
