General announcement
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS
PROTASCO BERHAD ("PROTASCO" OR THE "COMPANY") PROPOSED JOINT DEVELOPMENT BETWEEN DE CENTRUM RETAIL SDN BHD ("DCRSB"), A WHOLLY-OWNED SUBSIDIARY OF PROTASCO DEVELOPMENT SDN BHD, WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF PROTASCO, AND PENMALAND SDN BHD ("PENMALAND") TO JOINTLY DEVELOP THREE (3) CONTIGUOUS PARCELS OF FREEHOLD DEVELOPMENT LAND IN MUKIM OF TAMPIN TENGAH, DISTRICT OF TAMPIN, NEGERI SEMBILAN DARUL KHUSUS ("TAMPIN LAND") ("PROPOSED JOINT DEVELOPMENT")
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We refer to the earlier announcements dated 1 March 2019 and 18 April 2019 in relation to the Proposed Joint Development. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcements.
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On behalf of the Board, RHB Investment Bank wishes to announce that DCRSB and Penmaland had vide an exchange of letters dated 30 August 2019 mutually agreed to extend the Conditional Period which will expire on 31 August 2019, for a period of six (6) months to 29 February 2020, for Penmaland to fulfill the Conditions Precedent as set out in the JDA.
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This Announcement is dated 30 August 2019.
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GA1-30082019-00011