Announcement

Transactions (Chapter 10 Of Listing Requirements) : Related Party Transactions

04 March 2024

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Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS
Description HEKTAR REAL ESTATE INVESTMENT TRUST ("HEKTAR REIT") I. ACQUISITION AND LEASE; II. PLACEMENT; AND III. AMENDMENT

The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcements in relation to the Proposals.

We refer to the announcements dated 12 September 2023, 7 December 2023, 7 December 2023, 19 December 2023, 21 December 2023, 15 January 2024, 22 February 2024 and 4 March 2024 in relation to the Proposals.

On behalf of the Board, UOBKH wishes to announce that the Trustee and KCSB has mutually agreed to amend the terms of the SPA in particular in relation to the payment terms of the Acquisition (as per underlined) as follows:-

Payment terms

Timing of settlement

RM'000

%

Cash Deposit

Upon execution of the SPA

7,500

5.0

Redemption Sum

On or before 6 March 2024 to the Existing Chargee

85,000

56.7

Balance Sum:

 

 

 

Defect Retention Sum

On or before the expiry of the completion period

1,500

1.0

Lease Retention Sum

On or before the expiry of the completion period

13,500

9.0

First Balance Sum

On or before the expiry of the completion period

7,500

5.0

Final Balance Sum

 

 

 

 

 

On or before the expiry of the completion period with an automatic extension of 3 months from the expiry of the completion period or such other extended period as may be mutually agreed between the parties

 

35,000

 

 

 

 

 

23.3

 

 

 

 

 

Total

 

150,000

100.0

Save as disclosed above, there are no other changes to the salient terms of the SPA.

 

This announcement is dated 4 March 2024.