Announcements

Date : 05 July 2021

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS CJ CENTURY LOGISTICS HOLDINGS BERHAD ("THE COMPANY" OR "CJ CENTURY") - PROPOSED DISPOSAL BY CJ CENTURY OF ITS COURIER SERVICES BUSINESS THROUGH THE DIVESTMENT OF ITS 100% EQUITY INTEREST IN CJ LOGISTICS EXPRESS MALAYSIA SDN. BHD. TO CJ LOGISTICS ASIA PTE LTD FOR A TOTAL CASH CONSIDERATION OF RM7,471,505.91 ("PROPOSED DISPOSAL")

CJ CENTURY LOGISTICS HOLDINGS BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
CJ CENTURY LOGISTICS HOLDINGS BERHAD ("THE COMPANY" OR "CJ CENTURY") - PROPOSED DISPOSAL BY CJ CENTURY OF ITS COURIER SERVICES BUSINESS THROUGH THE DIVESTMENT OF ITS 100% EQUITY INTEREST IN CJ LOGISTICS EXPRESS MALAYSIA SDN. BHD. TO CJ LOGISTICS ASIA PTE LTD FOR A TOTAL CASH CONSIDERATION OF RM7,471,505.91 ("PROPOSED DISPOSAL")

Reference is made to the earlier announcements dated 4 June 2021 and 11 June 2021 in respect of the Proposed Disposal (“Announcements”).

 

Unless stated otherwise, all definitions and terms shall have the same meanings as those set out in the Announcements.

 

The Board of Directors (“Board”) of CJ Century wishes to announce that the Proposed Disposal was completed on 1 July 2021. Nevertheless, both CJ Century and CJ Logistics Asia Pte Ltd had on 5 July 2021, further agreed that the Proposed Disposal will be subjected to a post-closing price adjustment in the event the net asset value of CJ Logistics Express Malaysia Sdn. Bhd. (“CJLEM”) resulting from Messrs. Ernst & Young PLT’s (or an independent auditor approved by the Board) review of the management accounts of CJLEM as of 30 April 2021 differs by more than 10%. 

 

In view thereof, CJLEM shall cease to be a wholly-owned subsidiary of CJ Century.

 

This announcement is dated 5 July 2021.






Announcement Info

Company Name CJ CENTURY LOGISTICS HOLDINGS BERHAD
Stock Name CJCEN
Date Announced 05 Jul 2021
Category General Announcement for PLC
Reference Number GA1-02072021-00029


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