CORPORATE ANNOUNCEMENTS
General Announcement for PLC
Reference No: GA1-04052017-00062
 
Company Name : ECM LIBRA FINANCIAL GROUP BERHAD
Stock Name : ECM
Date Announced : 04 May 2017
Type : Announcement
Subject : MULTIPLE PROPOSALS
Description :

ECM LIBRA FINANCIAL GROUP BERHAD ("ECMLFG")

(I) PROPOSED ACQUISITIONS
(II) PROPOSED SPECIAL DIVIDEND
(III) PROPOSED DISPOSALS

Announcement Details/Table Section :

(I) Proposed acquisitions of:

  • 50% equity interest in TP Sepang Sdn Bhd, TP Hotel (Flinders) Trust (together with 50% of the rights and benefits to the shareholders' advances owing by TP Flinders), TP International Pty Ltd and Yummy Kitchen Sdn Bhd; and

  • Tune Hotel Penang, Tune Hotel KK and Tune Hotel KLIA Aeropolis,

for an aggregated purchase consideration of RM88,600,000;

(II) a proposed special dividend, subject to the completion of the proposed disposals as described in (III) below; and

(III) the proposed disposal of non-core assets, comprising part of Bangunan ECM Libra, and a semi-detached residential property for an aggregated disposal consideration of RM28,000,000.

Please refer to the attachment for the full text of the Announcement in relation to the proposals.

This announcement is dated 4 May 2017.

 

Attachment(s):- Announcement 2017-05-04 (Final).pdf

 
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