NEXGRAM - MEMORANDUM OF UNDERSTANDING
| Company Name | NEXGRAM HOLDINGS BERHAD (ACE Market) |
| Stock Name | NEXGRAM |
| Date Announced | 5 Sept 2014 |
| Category | General Announcement |
| Reference No | CS-140905-54953 |
| Type | Announcement |
| Subject | MEMORANDUM OF UNDERSTANDING |
| Description | Nexgram Holdings Berhad (formerly known as Nextnation Communication Berhad) (“Nexgram” or “the Company”) - Memorandum of Understanding between MyAngkasa Bina Sdn. Bhd. and the Company (1) The proposed joint development of approximately 26.829 acres of land located at RKT. Sg. Merab II, Mukim of Dengkil, District of Sepang, State of Selangor which has been sub-divided into 116 vacant detached residential plots namely, Lot No. 24393 to 24392, 36336 to 36360, 42134 to 42158, 45818 to 45838 and 45841 to 45866; and (2) The proposed joint development of a piece of land held under P58-H.S. (D) 28897, PT No. 42830, Mukim Dengkil, Daerah Sepang, Negeri Selangor Darul Ehsan measuring approximately 5.906 acres |
The Board of Directors of Nexgram wishes to announce that the Company had on 4 September 2014, entered into two (2) Memorandums of Understanding (“MOUs”) with MyAngkasa Bina Sdn. Bhd. (“Angkasa Bina”) to outline and regulate the agreed basis between Angkasa Bina and the Company (collectively referred to as "the Parties") as follows, subject to the terms and conditions as stipulated in the MOUs:- (1) The proposed joint development of approximately 26.829 acres of land located at RKT. Sg. Merab II, Mukim of Dengkil, District of Sepang, State of Selangor which has been sub-divided into 116 vacant detached residential plots namely, Lot No. 24393 to 24392, 36336 to 36360, 42134 to 42158, 45818 to 45838 and 45841 to 45866 (hereinafter referred to as “Putrajaya Project”); and (2) The proposed joint development of a piece of land held under P58-H.S. (D) 28897, PT No. 42830, Mukim Dengkil, Daerah Sepang, Negeri Selangor Darul Ehsan measuring approximately 5.906 acres (hereinafter referred to as “the Land”) held by Nextnation Datacity Sdn. Bhd., a wholly-owned subsidiary of Nexgram (hereinafter referred to as "Cyberjaya Project"). The principal objective of the MOU stated in item (1) is to promote co-operation between the Parties in the various fields of activity relating to the Putrajaya Project, as follows:- (i) The proposed Putrajaya Project involves a mixed development components which comprise of three (3) blocks of condominium and two (2) blocks of apartment, which the aforesaid is subject to further discussions between the Parties; (ii) Nexgram or its nominee shall be responsible for all aspects of the Putrajaya Project, including, applying for and obtaining all requisite approvals and permits from the appropriate authorities and all development works, costs and financing requirements in the implementation and completion of the Putrajaya Project. The period of development shall not be more than five (5) years from the date of obtaining the building plan (“BP”) and other necessary permits/license from the relevant authorities. In the event that the period of development takes longer than five (5) years from the date of obtaining the BP, the Parties shall then by, mutual agreement extend the period for another two (2) years; (iii) Angkasa Bina shall offer Nexgram or its nominee to be the Developer of the said Putrajaya Project in accordance with the BP and in return, Angkasa Bina shall undertake to acquire the entire PutrajayaProject development from Nexgram or its nominee. Subject to the relevant approvals being obtained, the Parties shall enter into the relevant definitive agreements and transaction documents to formalise the aforesaid “off-take”; and (iv) Such other matters as may be mutually agreed by the Parties from time to time. The principal objective of the MOU stated in item (2) is to promote co-operation between the Parties in the various fields of activity relating to the Cyberjaya Project, as follows:- (i) The proposed Cyberjaya Project involves a mixed development which comprise of commercial shops, one (1) block of high-end residential condominium, one (1) block of 4 star hotel and one (1) block of corporate office building in a 5.906 acres parcel of commercial land at Lot No. PT42830, Mukim of Dengkil, District of Sepang, Selangor Darul Ehsan, Title No. HSD28897, which the aforesaid is subject to further discussions between the Parties; (ii) Nexgram and/or its nominee company shall be responsible for all aspects of the Cyberjaya Project, including, applying for and obtaining all requisite approvals and permits from the appropriate authorities and all development works, costs and financing requirements in the implementation and completion of Cyberjaya Project. The period of development shall not be more than five (5) years from the date of obtaining the building plan (“BP”) and other necessary permits/license from the relevant authorities. In the event that the period of development takes longer than five (5) years from the date of obtaining the BP, the Parties shall then by, mutual agreement extend the period for another two (2) years; (iii) Angkasa Bina shall offer Nexgram and/or its nominee to be the Developer of the said Cyberjaya Project in accordance with the BP and in return, Angkasa Bina shall irrevocably undertake to acquire the entire Cyberjaya Project development from Nexgram or its nominee. Subject to the relevant approvals being obtained, Angkasa Bina and Nexgram shall enter into the relevant agreements and transaction documents to formalise the aforesaid “off-take”; and (iv) Such other matters as may be mutually agreed by the Parties from time to time. Angkasa Bina is a company incorporated under the Companies Act, 1965. It is a subsidiary of Angkatan Koperasi Kebangsaan Malaysia Berhad and having its principal office at Suite 310 & 311, Block A, Glomac Business Centre, Jalan SS 6/3, Kelana Jaya, 47301 Petaling Jaya, Selangor Darul Ehsan. Angkasa Bina is a company having core business in property development and construction especially in cooperatives markets. None of the directors and/or major shareholders of Nexgram and/or persons connected with them have any interest, direct or indirect, in the MOUs. A detailed announcement will be made in accordance with the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad upon finalisation of the terms and conditions and execution of the binding agreement(s). This announcement is dated 5 September 2014. | |
No comments:
Post a Comment