Asset Acquisitions and Disposals::Completion of Acquisition of Property and Subsidiary

Issuer & Securities

Issuer/ Manager
SINARMAS LAND LIMITED
Securities
SINARMAS LAND LIMITED - SG1E97853881 - A26
Stapled Security
No

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
01-Jul-2022 17:57:19
Status
New
Announcement Sub Title
Completion of Acquisition of Property and Subsidiary
Announcement Reference
SG220701OTHRV2F7
Submitted By (Co./ Ind. Name)
Kimberley Lye Chor Mei
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of Sinarmas Land Limited (the "Company" and together with its subsidiaries, the "Group") refers to the Company's announcement of 12 May 2022 regarding the sale and purchase agreement entered into by SML Strand Limited ("SML Strand"), a wholly-owned subsidiary of the Group, relating to the proposed purchase by SML Strand of the entire issued share capital of LS City & West End Limited, which owns the freehold property known as 32-50 Strand, London WC2N 5LL (the "Acquisition").

The Company wishes to update that the Acquisition was completed on 30 June 2022 and the consideration of GBP195 million (equivalent to approximately SGD329 million*) has been satisfied in full by a combination of internal resources and bank borrowings.

Please see attached Press Release dated 1 July 2022.


By Order of the Board
SINARMAS LAND LIMITED

Robin Ng Cheng Jiet
Director
1 July 2022

*Based on exchange rate of GBP1.00=SGD1.687

Attachments