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Bursa Updates
| Date Announced: |
23/02/2010 |
| Subject: |
HO HUP CONSTRUCTION COMPANY BERHAD ("Ho Hup" or "the Company")
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WRIT OF SUMMONS SERVED ON BUKIT JALIL DEVELOPMENT SDN. BHD., A MAJOR SUBSIDIARY OF THE COMPANY, BY PERMATA JUANG (M) SDN. BHD. |
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| Contents: |
Further to the Company's announcements dated 9 October 2009, 16 October 2009, 26 November 2009 and 15 December 2009 pertaining to the Writ of Summons served on Bukit Jalil Development Sdn. Bhd. ("BJD"), a major subsidiary of the Company, by Permata Juang (M) Sdn. Bhd. ("PJM") in relation to the withdrawal of the resolution relating to the proposed disposal of a parcel of freehold land measuring approximately 10.865 acres held under Geran 55268, Lot 38476 in the Mukim of Petaling, District of Kuala Lumpur, State of Wilayah Persekutuan Kuala Lumpur ("Land") for a cash consideration of RM19,408,370.57 by BJD to PJM, the Board of Directors of Ho Hup wishes to inform that the Court had on 19 January 2010 granted an order to Ho Hup approving an extension of time of 90 days from the date of the Court Order to perform its obligation by complying with the condition precedent as contained in clause 3.02(b) of the Sale and Purchase Agreement ("SPA") dated 2 March 2009, specifically condition precedent contained in clause 3.02(b)(xii) of the SPA. The Company will therefore have to convene the Extraordinary General Meeting before 19 March 2010 in compliance with the Court Order. |
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