General Announcement for PLC
26/08/2022PROPOSED ACQUISITION
| VIZIONE HOLDINGS BERHAD |
| Type | Reply to Query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-25082022-00002 |
| Subject | PROPOSED ACQUISITION |
| Description | Vizione Holdings Berhad ("Vizione" or the "Company")
Proposed acquisition of the entire equity interest in Midlands City Sdn Bhd for a purchase consideration of RM38.0 million. |
| Query Letter Contents | We refer to your Company’s announcement dated 24 August 2022, in respect of the aforesaid matter.
1) Section 2 Salient terms of the JVA entered between Midlands City and the landowner of the Development Land.
2) Section 2.1 Date of valuation of the Developmental Rights.
3) Section 5.8 a) Whether the Company will proceed with the SSA in the event approval for Phase 2 development is obtained but Phase 3 development is not obtained.
b) Whether the Company will proceed with the SSA in the event development orders for Phase 2 and Phase 3 differ greatly from the initial Master DO.
c) Whether there will be revision to the Purchase Consideration should items (a) and/or (b) above take place.
4) Section 1.1 of Appendix III A list of property development projects that Midlands City have been involved or undertaken including the contract value and completion date for the past 5 years.
Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.
Yours faithfully,
Regulation
Cc : Market Surveillance Dept. , Securities Commission (via fax) |
(For consistency, the abbreviations used throughout this announcement shall have the same meanings as those defined in the announcement dated 24 August 2022, where applicable, unless stated otherwise or defined herein)
Reference is made to the announcement dated 24 August 2022 in relation to the Proposed Acquisition.
On behalf of the Board, TA Securities wishes to announce the following additional information as requested by Bursa Securities vide its letter dated 25 August 2022 (IQL-25082022-00002) ("Letter"). Kindly refer to the following sections in the attachment for further details:
(i) Appendix I, for additional information in relation to item 1 of the Letter;
(ii) Section 2, for additional information in relation to item 2 of the Letter;
(iii) Section 3, for additional information in relation to items 3(a), 3(b) and 3(c) of the Letter; and
(iv) Section 4, for additional information in relation to item 4 of the Letter.
This announcement is dated 26 August 2022.
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Please refer attachment below.
Attachments
Vizione - Announcement - Additional information.pdf
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Announcement Info
| Company Name | VIZIONE HOLDINGS BERHAD |
| Stock Name | VIZIONE |
| Date Announced | 26 Aug 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-26082022-00063 |