Nexgram divest asset for business expansion [3 Jan 2019]

NEXGRAM HOLDINGS BERHAD

 

Type Announcement
Subject OTHERS
Description
PROPOSED DISPOSAL OF 11 STOREY STRATIFIED OFFICE BUILDING, NEXGRAM TOWER  BY COCONUT THREE SDN BHD (FORMERLY KNOWN AS NEXGRAM LAND SDN BHD), A WHOLLY-OWNED SUBSIDIARY OF THE NEXGRAM HOLDINGS BERHAD (PROPOSED DISPOSAL)

The Board of Directors of Nexgram Holdings Berhad (“Nexgram” or “Company”) wishes to announce that Coconut Three Sdn Bhd (formerly known as Nexgram Land Sdn Bhd) (“The Vendor” or “CTSB”), a wholly-owned subsidiary of the Company, had on 31 December 2018 entered into a Sale and Purchase Agreement (“Agreement”) with IMS Development Sdn Bhd (“IMS” or “the Purchaser”) for the disposal of 11 storey stratified office building erected on part of the Master Title PN 46338, Lot No. 58190, Mukim and District of Kuala Lumpur, State of Wilayah Persekutuan Kuala Lumpur bearing postal address at Tower 7, Avenue 3, The Horizon Phase 1, Bangsar South, No. 8, Jalan Kerinchi, 59200 Kuala Lumpur measuring approximately 79,347 square feet (“Nexgram Tower” or “the Property”) for a consideration of RM67,000,000.00 (“Proposed Disposal”).

 

Details of the Proposed Disposal are set out in the attachment herein.

 

This announcement is dated 3 January 2019.

 

Please refer attachment below.