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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS MAGMA GROUP BERHAD ("MAGMA" OR THE "COMPANY")
PROPOSED DISPOSAL OF THE ENTIRE 20% EQUITY INTEREST IN HERITAGE LANE SDN BHD BY ASTAKA MEKAR SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF MAGMA, TO HARUM ASPIRASI SDN BHD FOR RM63.00 MILLION TO BE FULLY SETTLED IN CASH ("PROPOSED DISPOSAL")
MAGMA GROUP BERHAD
Type
Announcement
Subject
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
MAGMA GROUP BERHAD ("MAGMA" OR THE "COMPANY")
PROPOSED DISPOSAL OF THE ENTIRE 20% EQUITY INTEREST IN HERITAGE LANE SDN BHD BY ASTAKA MEKAR SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF MAGMA, TO HARUM ASPIRASI SDN BHD FOR RM63.00 MILLION TO BE FULLY SETTLED IN CASH ("PROPOSED DISPOSAL")
We refer to the announcements dated 10 October 2025, 22 January 2026, 9 February 2026 as well as the Company's circular to shareholders dated 23 January 2026 ("Circular") in relation to the Proposed Disposal ("Announcements"). Unless otherwise defined, the definitions set out in the Announcements and the Circular shall apply herein.
On behalf of the Board, Kenanga IB wishes to announce that the condition precedent relating to the approval of the Ministry of Economy (as set out in Section 7 of the Circular) has been fulfilled on 11 June 2026. Accordingly, the SSA has become unconditional on even date.