| Type | Announcement |
| Subject | OTHERS |
| Description |
Reorganisation of the Ownership of the Phase 2 Power Station Commercial Assets and the Associated Fabric, Structure and Common Areas of Battersea Power Station, London between Battersea Phase 2 Holding Company Limited ("Battersea Phase 2 Holdco") and PNB-Kwasa International 2 Limited, a Joint Venture Company of Permodalan Nasional Berhad and The Employees Provident Fund Board ("Proposed Disposal") |
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Reference is made to the Company’s announcements dated 18 January 2018, 15 May 2018, 31 July 2018, 5 October 2018, 17 December 2018 and 20 December 2018 in relation to the Proposed Disposal. |
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The Board of Directors of Sime Darby Property wishes to announce that the Sale and Purchase Agreement dated 14 December 2018 entered into between Battersea Phase 2 Holdco and PNB-Kwasa International 2 Limited in respect of the Proposed Disposal (“SPA”) was completed on 14 March 2019.
The conditions precedent stated in the SPA have been fulfilled and the settlement of the initial cash purchase price payable of £676.08 million (equivalent to RM3.635 billion)^ (after deduction of transaction costs) has been made. The balance of the total purchase price of £1,583 million (equivalent to RM8.512 billion)^ is payable in staged payments up to and including the practical completion of the Power Station building in its entirety in accordance with the terms of the SPA.
This announcement is dated 14 March 2019.
Note:
^ Based on the reference rate GBP/MYR5.3772 from Bank Negara Malaysia published rate at 5.00 p.m. on 13 March 2019
| Company Name | SIME DARBY PROPERTY BERHAD |
| Stock Name | SIMEPROP |
| Date Announced | 14 Mar 2019 |
| Category | General Announcement for PLC |
| Reference Number | GA1-14032019-00008 |