TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS KERJAYA PROSPEK PROPERTY BERHAD (“KPPROP” OR THE “COMPANY”) ENTRY INTO JOINT VENTURE AND SHAREHOLDERS’ AGREEMENT BY KERJAYA PROPERTY JV SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF KPPROP WITH ASPEN VISION CITY SDN. BHD. TO JOINTLY DEVELOP A PIECE OF LAND IN BATU KAWAN, PULAU PINANG VIA A SPECIAL PURPOSE VEHICLE – EXTENSION OF CONDITIONS PRECEDENT PERIOD
| KERJAYA PROSPEK PROPERTY BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | KERJAYA PROSPEK PROPERTY BERHAD (“KPPROP” OR THE “COMPANY”) ENTRY INTO JOINT VENTURE AND SHAREHOLDERS’ AGREEMENT BY KERJAYA PROPERTY JV SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF KPPROP WITH ASPEN VISION CITY SDN. BHD. TO JOINTLY DEVELOP A PIECE OF LAND IN BATU KAWAN, PULAU PINANG VIA A SPECIAL PURPOSE VEHICLE – EXTENSION OF CONDITIONS PRECEDENT PERIOD |
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(Reference is made to the announcement dated 9 May 2024, 23 September 2024 and 6 December 2024 in relation to the entry into Joint Venture Agreement ("JVA") and Shareholders' Agreement by Kerjaya Property JV Sdn. Bhd. ("KPJV"), a wholly-owned subsidiary of KPPROP with Aspen Vision City Sdn. Bhd. ("AVC") to jointly develop a piece of land in Batu Kawan, Pulau Pinang via a special purpose vehicle ("SPV") ("Announcements"). Unless otherwise defined in this announcement, all terms used herein shall have the same meaning as those defined in the Announcements.)
The Board wishes to announce that KPJV and AVC (collectively, the "Parties") have on 17 February 2025 mutually agreed to further extend the Unconditional Date until 6 April 2025 ("Extended Unconditional Date"), to allow more time for the Parties to fulfill the conditions precedent pursuant to the JVA.
The Parties agree that save for the Extended Unconditional Date, all other terms and conditions as stipulated in the JVA shall remain in subsistence.
This announcement is dated 17 February 2025. |
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Announcement Info
| Company Name | KERJAYA PROSPEK PROPERTY BERHAD |
| Stock Name | KPPROP |
| Date Announced | 17 Feb 2025 |
| Category | General Announcement for PLC |
| Reference Number | GA1-06022025-00048 |