We refer to the following news articles all published on 10 October 2014:
1. “PJD, OSK Property will merge soon” appearing in The Edge Financial Daily;
2. “PJD-OSK Property merger ‘quite soon’” appearing in The Starbiz; and
3. “PJDH, OSK Property plan to ‘synergise’” appearing in The Malaysian Reserve,
and in particular the following sentences as stated therein:
i) “A merger and consolidation exercise between PJ Development Holdings Bhd (PJD) and OSK Property Holdings Bhd is expected to materialize soon” in The Starbiz;
ii) “PJ Development Holdings Bhd (PJDH) and OSK Property Holdings Bhd will “synergise” into a single entity to become a first-tier property developer in Malaysia”; and
“It is not our intention to privatize (OSK Property), but to synergize our potentials and capabilities to be a frontier in property development, …… whether the new entity will remain listed will be also announced later” in The Malaysian Reserve.
We wish to confirm that the Company is presently negotiating for a possible merger and consolidation exercise involving PJ Development Holdings Berhad. However, the structure has not been finalized and no definitive agreement has been executed as at to-date.
An announcement will be made in accordance with the Main Market Listing Requirements of Bursa Malaysia Securities Berhad once the definitive agreement is executed by the Company.
This announcement is dated 10 October 2014.
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