TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS IRE-TEX CORPORATION BERHAD ("Ire-Tex" or "the Company") - PROPOSED DISPOSAL OF ALL THAT PIECE OF LEASEHOLD LAND (EXPIRING ON 2 JULY 2067) HELD UNDER H.S.(D) 445650 PTD 194752, MUKIM PLENTONG, DAERAH JOHOR BAHRU, NEGERI JOHOR DARUL TAKZIM MEASURING APPROXIMATELY 1.012 HECTARES TOGETHER WITH THE BUILDING(S) ERECTED THEREON BY IRE-TEX (JOHOR) SDN BHD (A 70%-OWNED SUBSIDIARY OF IRE-TEX), FOR A CASH CONSIDERATION OF RM8,800,000

IRE-TEX CORPORATION BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
IRE-TEX CORPORATION BERHAD ("Ire-Tex" or "the Company")  
- PROPOSED DISPOSAL OF ALL THAT PIECE OF LEASEHOLD LAND (EXPIRING ON 2 JULY 2067) HELD UNDER H.S.(D) 445650 PTD 194752, MUKIM PLENTONG, DAERAH JOHOR BAHRU, NEGERI JOHOR DARUL TAKZIM MEASURING APPROXIMATELY 1.012 HECTARES TOGETHER WITH THE BUILDING(S) ERECTED THEREON BY IRE-TEX (JOHOR) SDN BHD (A 70%-OWNED SUBSIDIARY OF IRE-TEX), FOR A CASH CONSIDERATION OF RM8,800,000

Pursuant to Paragraph 10.06 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Ire-Tex (“Board”) wishes to announce that Ire-Tex (Johor) Sdn. Bhd. ("ITJSB" or "the Vendor"), a 70%-owned subsidiary of the Company, had on 19 August 2016, entered into a sale and purchase agreement ("SPA") with The W Clay Industries Sdn. Bhd. (Company No. 299980-X) ("The W Clay" or "the Purchaser") for the disposal of all that piece of leasehold land held under H.S.(D) 445650 PTD 194752, Mukim Plentong, Daerah Johor Bahru, Negeri Johor Darul Takzim measuring approximately 1.012 hectares with the lease period expiring on 2 July 2067 together with the building(s) erected thereon (“the Property” or “the Land”) for a cash consideration of RM8,800,000 (“Proposed Disposal”).

Please refer to the attached document for further details.

This announcement is dated 19 August 2016.




Please refer attachment below.



Announcement Info

Company Name IRE-TEX CORPORATION BERHAD
Stock Name IRETEX
Date Announced 19 Aug 2016
Category General Announcement for PLC
Reference Number GA1-19082016-00035