We refer to the announcements dated 21 May 2014, 17 June 2014, 19 January 2015, 12 February 2015, 28 September 2015, 17 November 2015, 16 February 2016 and 26 May 2016 in relation to the Acquisition (“Announcements”). Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said Announcements in relation to the Acquisition. 

On behalf of the Board, TA Securities wishes to announce that Conditions Precedent as stipulated in the SPA and Supplemental Agreement have been fulfilled and the cash consideration of RM126,000,000 has been made by CMD to the Vendor on 30 September 2016. Following the settlement of the Cash Consideration, the Land title has been duly registered in the name of CMD in accordance with the issue document of title to the Land dated 4 November 2016.

As to-date, the TGSB, on behalf of CMD as stipulated in the SPA and Supplemental Agreement, is in the midst of preparing its submission application to the relevant authorities for the approval in varying the zoning of the land use to mixed development and approval in undertaking the development of the Land with plot ratio of 1:4.

Further developments of the application for the re-zoning and the change in the plot ratio as stated above and including the completion of obligations of TGSB and CMD under the SPA and Supplemental Agreement will be announced in due course.

This announcement is dated 9 January 2017.