SOLID

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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS SOLID AUTOMOTIVE BERHAD ("SAB" OR THE "COMPANY") SALE AND PURCHASE AGREEMENT BETWEEN SOUTH EAST ASIA PLASTIC INDUSTRIES SDN. BHD. ("VENDOR") AND PART CENTER SDN BHD. ("PURCHASER"), A WHOLLY-OWNED SUBSIDIARY OF SAB, FOR THE PURCHASE OF ALL THAT PIECE OF NINETY NINE (99) YEARS LEASEHOLD LAND EXPIRING ON 5TH SEPTEMBER 2074 HELD UNDER H.S.(M) 3775, PT 15, MUKIM BATU, TEMPAT JALAN PERUSAHAAN EMPAT, BATU CAVES, DAERAH GOMBAK, NEGERI SELANGOR ("PROPOSED ACQUISITION").

SOLID AUTOMOTIVE BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description 
SOLID AUTOMOTIVE BERHAD ("SAB" OR THE "COMPANY")

SALE AND PURCHASE AGREEMENT BETWEEN SOUTH EAST ASIA PLASTIC INDUSTRIES SDN. BHD. ("VENDOR") AND PART CENTER SDN BHD. ("PURCHASER"), A WHOLLY-OWNED SUBSIDIARY OF SAB, FOR THE PURCHASE OF ALL THAT PIECE OF NINETY NINE (99) YEARS LEASEHOLD LAND EXPIRING ON 5TH SEPTEMBER 2074 HELD UNDER H.S.(M) 3775, PT 15, MUKIM BATU, TEMPAT JALAN PERUSAHAAN EMPAT, BATU CAVES, DAERAH GOMBAK, NEGERI SELANGOR ("PROPOSED ACQUISITION").

We refer to the earlier announcement dated 30 September 2024 in relation to the Acquisition.
On behalf of the Board, the Company wishes to announce that the conditions precedent of the SPA were fulfilled, and with the settlement of the balance purchase consideration, the Acquisition has been completed on 20 December 2024, in accordance with the terms of the SPA. The Vendor offered a goodwill discount for the earlier completion of the SPA. 
This announcement is dated 20 December 2024.



Announcement Info

Company Name SOLID AUTOMOTIVE BERHAD
Stock Name SOLID
Date Announced 20 Dec 2024
Category General Announcement for PLC
Reference Number GA1-19122024-00037


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