In compliance with paragraph 10.11(2)(a) and (c) of the Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Paramount wishes to announce that SMSB, a wholly-owned subsidiary, had entered into the following Agreements (“SPA’s”) for the purchase of the contiguous lands from parties connected with one another:i) SPA dated 21 September 2007 for the acquisition of a piece of leasehold vacant industrial land known as Lot 7, Jalan Teknologi 3/1, Taman Sains Selangor 1, Kota Damansara, Petaling Jaya, Selangor Darul Ehsan measuring 5.12 acres or 223,027 square feet (“Lot 7”) from Oji Screens Sdn Bhd (“OJI”) for a total cash consideration of RM20,518,484/-; and
ii) SPA dated 5 February 2008 for the acquisition of a piece of leasehold vacant industrial land known as Lot 9, Jalan Teknologi 3/1, Taman Sains Selangor 1, Kota Damansara, Petaling Jaya, Selangor Darul Ehsan measuring 4.33 acres or 188,615 square feet (“Lot 9”) from Sunhom Sdn Bhd (“SSB”) for a total cash consideration of RM19,410,790/-. Read More
(5-2-2008 KLSE)
