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Mulpha International Bhd

07/17/2019 | Press release | Distributed by Public on 07/17/2019 04:51

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS MULPHA INTERNATIONAL BHD ('MIB') - PROPERTY AND BUSINESS ASSET SALE AGREEMENT FOR THE[...]

Pursuant to Chapter 10, Paragraph 10.06 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of MIB wishes to announce that Perpetual Corporate Trust Limited ('Perpetual') as custodian of the Mulpha Cairns Esplanade Fund ('Mulpha Cairns'), Cairns Esplanade Operations Pty Ltd ('Cairns Esplanade') and Mulpha Funds Management Pty Ltd ('Mulpha Funds') (collectively referred to as 'Vendors') have on 16 July 2019, entered into a Property and Business Asset Sale Agreement ('Agreement') with JY Cairns Esplanade Hotel Pty Ltd ('JY Hotel'/ 'Property Purchaser') as Trustee for JY Cairns Esplanade Hotel Unit Trust ('JY Trust') and JY Cairns Esplanade Operations Pty Ltd ('JY Operations'/ 'Business Purchaser') (collectively referred to as 'Purchasers') for the proposed disposal of Rydges Esplanade Resort located in Cairns, Australia ('Property') at a total cash consideration of A$65 million (equivalent to approximately RM187.91 million) ('Sale Consideration') [hereinafter referred to as 'Proposed Disposal'].

Please refer to the attached document for the complete announcement.

This announcement is dated 17 July 2019.