LEONG HUP HOLDINGS BERHAD - Announcements

(ii)
The balance of RM12,965,180.48 by the issuance of new Shares by
Newco at the initial public offering price (“Consideration Shares”). The
initial public offering price and the basis therefor and hence the number of
Consideration Shares, will be determined after Newco has obtained the
SC’s approval for its proposed listing on the KLSE. Budiman undertakes
to sell 40% of the Consideration Shares to Bumiputra parties approved by
the Ministry of International Trade & Industry.
Newco expects to submit its application to the SC by July 2001. In the
event that the proposed listing of Newco does not take place, the Proposed
Disposal of 119.82-Acre Land will be aborted.
(f)
Rights Attaching to Consideration Shares
The Consideration Shares shall rank pari passu in all respects with the other Shares
of Newco and shall be similarly listed and quoted on the KLSE.
4.7 Inter-Conditionality
The First Proposed Acquisition of Budiman Shares, Proposed Disposal of Atlasprise
Shares, Proposed Disposal of 73.845-Acre Land and Proposed Disposal of 132.395-Acre
Land are inter-conditional with one another.
The Second Proposed Acquisition of Budiman Shares is not inter-conditional with any of
the other Proposals.
The Proposed Disposal of 119.82-Acre Land is not inter-conditional with any of the other
Proposals.
4.8 Related-Party Transactions
The First Proposed Acquisition of Budiman Shares, Proposed Disposal of Atlasprise
Shares, Proposed Disposal of 73.845-Acre Land, Proposed Disposal of 132.395-Acre Land
and Proposed Disposal of 119.82-Acre Land are related-party transactions because Mr.
Yeo Soo Sia @ Yeo Soo Seng is a director and substantial shareholder of Budiman, Bukit
Gambir, Jayaplus and Pathalon, as well as a director of Atlasprise.
The Second Proposed Acquisition of Budiman Shares is a related-party transaction for the
following reasons:-
(a)
(b)
(c)
Datuk Lau Chong Wang is the Chairman and Managing Director of LHHB and a
substantial shareholder of LHHB through his interest in LHM. He is a director
and substantial shareholder of LHM. He is also a substantial shareholder of
Amalan, and a director and an indirect substantial shareholder of Budiman through
his interest in LHHB;
Dato Lau Eng Guang is an Executive Director of LHHB and a substantial
shareholder of LHHB. He is a director and substantial shareholder of LHM. He is
also a substantial shareholder of Amalan;
Datuk Lau Tuang Nguang is an Executive Director of LHHB and a substantial
shareholder of LHHB. He is a substantial shareholder of Amalan and a director of
Budiman;
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