We refer to the announcement dated 23 January 2017 (“Initial Announcement”) and 24 January 2017  in respect of the above subject matter.

Unless otherwise stated, the definitions used throughout this announcement shall have the same meaning as defined in the Initial Announcement.

The Board of Directors of the Company wishes to inform that Aemulus Corporation Sdn Bhd, a wholly-owned subsidiary of Aemulus (“ACSB”) had on 21 November 2018 entered into a Supplemental Agreement with Penang Development Corporation (“PDC”) (the “Supplemental Agreement”) for the purpose of inserting the new total land acreage, inserting the new land price in addition to the Total Purchase Price at the same rate determined in the Sale and Purchase Agreement dated 23 January 2017 (the “Principal Agreement”), including the new land area where the Land indicating Tenaga Nasional Berhad’s substation (“TNB’s Substation”) is located which was excluded in the Principal Agreement, upon the terms and condition of the Supplemental Agreement.   

The following are the salient terms of the Supplemental Agreement:-

1. The new land acreage in addition to the existing Land acreage of 1.6283 acres shall include 0.0434 acres and the total land acreage of the existing Land shall now be 1.6717 acres.
2. The new land area in addition to the existing Land area shall now include the area of TNB’s Substation at 0.0434 acres which was previously excluded as described in Section 1 Fourth Schedule under Special Terms and Conditions of the Principal Agreement.
3. The new land price for the area of TNB’s Substation in addition to the existing price for the existing Land shall be for the sum of Ringgit Malaysia Two Hundred Sixty Four Thousand Six Hundred Seventy (RM264,670.00) only and the total land price shall now be at the sum of Ringgit Malaysia Ten Million One Hundred Ninety Four Thousand Six Hundred Ninety Five (RM10,194,695.00) only and the new land price for the area of TNB’s Substation shall be paid upon by ACSB to PDC upon execution of the Supplemental Agreement which shall be deemed to be incorporated and form part of the Supplemental Agreement, subject to the terms and conditions set forth in the Principal Agreement and the Supplemental Agreement.

The new land price for the area of TNB’s Substation of Ringgit Malaysia Two Hundred Sixty Four Thousand Six Hundred Seventy (RM264,670.00) only will be financed through internally-generated funds.

The rationale of the Supplemental Agreement is to retain the existing TNB’s Substation to supply electricity to the proposed Aemulus’s new corporate office building.

The highest percentage ratio pursuant to the Chapter 10 of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad applicable for the Supplemental Agreement for the new land price for the area of TNB’s Substation is 0.36%.

The Supplemental Agreement will not have any effect on the share capital and substantial shareholders’ shareholding of Aemulus, and will not have any material effect to the earnings, earnings per share, net assets per share and gearing of the Group for the financial year ending 30 September 2019.

This announcement is dated 21 November 2018.

Announcement Info