Bursa Anouncements

Date : 02 September 2024

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS (I) DEED OF NOVATION IN RELATION TO THE PRINCIPAL TENANCY AGREEMENT WITH LQ RETAIL SDN. BHD. (LRSB), CUPPERS SDN. BHD. (CUPPERS) AND FABULOUS BITES SDN. BHD. (FBSB); (II) DEED OF NOVATION IN RELATION TO THE PRINCIPAL LICENCE AGREEMENT FOR EXTERNAL SEATING AREA WITH LRSB, CUPPERS AND FBSB; AND (III) ACQUISITION OF ASSETS FROM CUPPERS (COLLECTIVELY REFERRED TO AS THE TRANSACTIONS)

HEXTAR RETAIL BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description 
(I)	DEED OF NOVATION IN RELATION TO THE PRINCIPAL TENANCY AGREEMENT WITH LQ RETAIL SDN. BHD. (LRSB), CUPPERS SDN. BHD. (CUPPERS) AND FABULOUS BITES SDN. BHD. (FBSB);

(II)	DEED OF NOVATION IN RELATION TO THE PRINCIPAL LICENCE AGREEMENT FOR EXTERNAL SEATING AREA WITH LRSB, CUPPERS AND FBSB; AND

(III) ACQUISITION OF ASSETS FROM CUPPERS

(COLLECTIVELY REFERRED TO AS THE TRANSACTIONS)

Pursuant to Paragraph 10.08 (1) of the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad, the Board of Hextar Retail Berhad (formerly known as Classic Scenic Berhad (“HRB”) wishes to announce that:

  1. a Deed of Novation was entered into between FBSB, an indirect wholly-owned subsidiary of HRB, LRSB and Cuppers, to novate all Cuppers's rights, interest, benefits, obligations and liabilities in and under the Principal Tenancy Agreement (“Tenancy Agreement”) and the Premises provisionally known as #Lot L2.52.0, Level 2, The Exchange TRX, Persiaran TRX, Tun Razak Exchange, 55188 Kuala Lumpur, W.P. Kuala Lumpur.
  2. a Deed of Novation was entered into between FBSB, an indirect wholly-owned subsidiary of HRB, LRSB and Cuppers, to novate Cuppers’s rights, interest, benefits, obligations and liabilities in and under the Principal Licence Agreement for External Seating Area (“Licence Agreement”) and the Licensed Area provisionally known as #Lot L2.52E.0, Level 2, The Exchange  TRX, Persiaran TRX, Tun Razak Exchange, 55188 Kuala Lumpur, W.P. Kuala Lumpur.

Collectively referred to as (“Deeds”).

 

In accordance with the Deeds, FBSB shall pay Cuppers the sum of RM154,631.25 being the deposit payment in relation to the Tenancy Agreement and Licence Agreement (“Deposits”).

 

(iii) acquisition of assets from Cuppers for a total cash consideration of RM1,087,000.00.

 

(“collectively referred to as “the Transactions”)

 

Please refer to the attachment for further details.

 

This announcement is dated 2 September 2024


Please refer attachment below.

Attachments

HRB Announcement - Transactions - RPT.pdf
128.5 kB


Announcement Info

Company Name HEXTAR RETAIL BERHAD
Stock Name HEXRTL
Date Announced 02 Sep 2024
Category General Announcement for PLC
Reference Number GA1-02092024-00052


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