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") |
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Reference is made to the announcement dated 5 July 2021, which states 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 (“EY”)’s review of the management accounts of CJLEM as of 30 April 2021 differs by more than 10%.
The Board of Directors of CJ Century wishes to announce that both CJ Century and CJ Logistics Asia Pte. Ltd. have, on 24 November 2021, mutually agreed not to proceed with the independent review by EY and thus, cancel the post-closing price adjustment.
This announcement is dated 24 November 2021.
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Announcement Info
| Company Name | CJ CENTURY LOGISTICS HOLDINGS BERHAD |
| Stock Name | CJCEN |
| Date Announced | 24 Nov 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-24112021-00060 |
