|Subject||TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
YNH PROPERTY BHD ("YNH" OR "COMPANY") PROPOSED DISPOSAL OF PROPERTY COMPRISING A BUILDING WHICH IS A 5-STOREY HOSPITAL FACILITY CURRENTLY KNOWN AS "PANTAI HOSPITAL MANJUNG" ERECTED ON A PIECE OF LAND MEASURING APPROXIMATELY 19,986 SQUARE METERS LOCATED AT JALAN PPMP 1, PUSAT PERNIAGAAN MANJUNG POINT, 32040 SERI MANJUNG, PERAK BY YNH HOSPITALITY SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, FOR A CASH CONSIDERATION OF RM63,000,000.00 ("PROPOSED DISPOSAL")
The Board of Directors of YNH wishes to announce that YNH Hospitality Sdn Bhd, a wholly-owned subsidiary of YNH, had on 9 December 2016, agreed to enter into discussions with Pantai Medical Centre Sdn Bhd (“PMC”) for the proposed disposal of property comprising a building which is a 5-storey hospital facility currently known as “Pantai Hospital Manjung” erected on a piece of land measuring approximately 19,986 square meters held under HSD 33527, Lot PT 17283 Mukim Lumut Daerah Manjung, Negeri Perak (“Property”) for a total cash consideration of RM63,000,000.00. This is in response to a letter dated 25 November 2016 received from PMC, expressing its interest to acquire the Property subject to all terms and conditions being mutually agreed by the parties.
Further details of the proposed transaction will be announced in due course.
This announcement is dated 15 December 2016.
|Company Name||YNH PROPERTY BERHAD|
|Date Announced||15 Dec 2016|
|Category||General Announcement for PLC|