LEONG HUP HOLDINGS BERHAD - Announcements

9. CONDITIONS PRECEDENT.............................................................................................................. 21-23
9.1 Inter-Conditional Proposals ................................................................................................... 21-22
9.2 Second Proposed Acquisition of Budiman Shares ....................................................................... 22
9.3 Proposed Disposal of 119.82-Acre Land..................................................................................... 23
10. DIRECTORS’ AND SUBSTANTIAL SHAREHOLDERS’ INTERESTS............................................... 23
11. INDEPENDENT ADVISER ..................................................................................................................... 24
12. DIRECTORS’ RECOMMENDATION .................................................................................................... 24
13. EXTRAORDINARY GENERAL MEETING .......................................................................................... 24
14. FURTHER INFORMATION .................................................................................................................... 24
PART B – INDEPENDENT ADVICE LETTER TO THE SHAREHOLDERS OF LHHB
1. INTRODUCTION................................................................................................................................ 27-29
2. LIMITATIONS TO THE EVALUATION OF THE PROPOSALS..................................................... 29-30
3. DETAILS OF THE PROPOSALS ....................................................................................................... 30-43
3.1 First Proposed Acquisition of Budiman Shares ...................................................................... 30-32
3.2 Proposed Disposal of Atlasprise Shares................................................................................. 32-36
3.3 Proposed Disposal of 73.845-Acre Land................................................................................ 36-38
3.4 Proposed Disposal of 132.395-Acre Land.............................................................................. 39-40
3.5 Second Proposed Acquisition of Budiman Shares .................................................................. 40-41
3.6 Proposed Disposal of 119.82-Acre Land................................................................................ 42-43
3.7 Inter-Conditionality...................................................................................................................... 43
4. RATIONALE FOR THE PROPOSALS.................................................................................................... 44
5. SOURCES OF FUNDS AND UTILISATION OF PROCEEDS ......................................................... 44-45
5.1 Sources of Funds.......................................................................................................................... 44
5.2 Utilisation of Proceeds................................................................................................................. 45
6. CONDITIONS PRECEDENT.............................................................................................................. 45-47
6.1 Inter-Conditional Proposals ................................................................................................... 45-46
6.2 Second Proposed Acquisition of Budiman Shares ....................................................................... 46
6.3 Proposed Disposal of 119.82-Acre Land................................................................................ 46-47
7. DIRECTORS’ AND SUBSTANTIAL SHAREHOLDERS’ INTERESTS............................................... 47
8. EVALUATION OF THE PROPOSALS .............................................................................................. 47-52
8.1 Rationale for the Proposals..................................................................................................... 47-48
8.2 Basis of Determining the Consideration for the Proposals .................................................... 49-50
8.3 Mode of Financing the First and Second Proposed Acquisition of Budiman Shares............. 50-51
8.4 Financial Effects of the Proposals .......................................................................................... 51-52
9. CONCLUSION AND RECOMMENDATION ........................................................................................ 52