TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS SENTORIA GROUP BERHAD ("SENTORIA" OR "THE COMPANY") SALE AND PURCHASE AGREEMENT BETWEEN SERIEMAS DEVELOPMENT SDN. BERHAD, SENTORIA AND SENTORIA MORIB BAY SDN. BHD.
Type | Announcement |
Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
Description | SENTORIA GROUP BERHAD ("SENTORIA" OR "THE COMPANY") SALE AND PURCHASE AGREEMENT BETWEEN SERIEMAS DEVELOPMENT SDN. BERHAD, SENTORIA AND SENTORIA MORIB BAY SDN. BHD. |
Reference is made to the Company's announcements of 31 December 2012, 15 March 2013 and 29 March 2013 in relation to Joint Venture Agreement and Development Right Agreement ["DRA"] between the Company and Seriemas Development Sdn Berhad ["Seriemas"] to jointly undertake the development of 204 acres of land into a mixed development of commercial and residential units and to also undertake the development of the four components namely, a water theme park, resort and convention centre, boutique hotel and safari park on the development land. The Board of Directors of Sentoria wishes to announce that Sentoria and its wholly owned subsidiary company, Sentoria Morib Bay Sdn. Bhd. ["SMBSB" or "the Transferee"], has on 10 July 2018, entered into a Sale and Purchase Agreement ["SPA"] with Seriemas for the acquisition and transfer of the following lands, measuring approximately 150 acres in total area for a purchase consideration of Ringgit Malaysia Twenty Million Two Hundred and Fifty Thousand (RM20,250,000.00) ["Purchase Price"] only in accordance with the terms and conditions in the DRA, pursuant to the exercise of the Put Option by Seriemas, and subject further to the terms and conditions as contained in the SPA ["the Land Acquisition"]:- (a) Water Theme Park Land -a Water Theme Park on the land measuring approximately 22 acres in area held under H.S. (D) 39314, PT1129, Mukim Morib, Kuala Langat, Selangor; (b) Convention Centre Land -a Resort and Convention Centre on the land measuring approximately 38 acres in area held under H.S. (D) 39315, PT1130, Mukim Morib, Kuala Langat, Selangor; (c) Safari Land -a Safari Park (comprising of River and Night Safari) measuring approximately 78 acres in area held under H.S. (D) 39315, PT1130, Mukim Morib, Kuala Langat, Selangor; and (d) Boutique Hotel Land -a Boutique Hotel on the land measuring approximately 12 acres in area held under H.S. (D) 39315, PT1130, Mukim Morib, Kuala Langat, Selangor; all forming the Master Title Land formerly held under HS (D) 30726 PT 1082, Mukim Morib, Daerah Kuala Langat, Negeri Selangor, prior to its subdivision thereof, and which expression where the context requires, means the entire Land or any part thereof or any of the Water Theme Park Land, the Convention Centre Land, the Safari Land and/or the Boutique Hotel Land [ "the Land"]. The details of the announcement are set out in the attached file. This announcement is dated 11 July 2018. |