Asset Acquisitions and Disposals::Completion of the Proposed Transfer

Issuer & Securities

Issuer/ Manager
GOLDEN AGRI-RESOURCES LTD
Securities
GOLDEN AGRI-RESOURCES LTD - MU0117U00026 - E5H
Stapled Security
No

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
03-Apr-2018 20:30:08
Status
New
Announcement Sub Title
Completion of the Proposed Transfer
Announcement Reference
SG180403OTHRX99F
Submitted By (Co./ Ind. Name)
Kimberley Lye Chor Mei
Designation
Director, Corporate Secretarial
Description (Please provide a detailed description of the event in the box below)
Reference is made to the announcement by Golden Agri-Resources Ltd ("GAR" and together with its subsidiaries, the "Group") of 27 November 2017 regarding the proposed sale by GAR's indirect wholly-owned subsidiary, Sinarmas Natural Resources (China) Investment Co., Ltd (the "Transferor") of the Transferor's entire equity interests held in Sinarmas Natural Resources Foodstuff Technology (Tianjin) Co., Ltd (the "Company") to LDC (China) Trading Company Limited (the "Proposed Transfer").

The Board of Directors (the "Board") of GAR wishes to announce the completion of the Proposed Transfer on 2 April 2018 ("Completion"), following which, the Company ceased to be a subsidiary of GAR.

The final consideration is subject to adjustment of, inter alia, working capital between the pro-forma accounts and the final accounts as at Completion date. The difference is not expected to have any material effect on the consolidated financial statement of the GAR Group.


By Order of the Board
GOLDEN AGRI-RESOURCES LTD


Rafael Buhay Concepcion, Jr.
Director
3 April 2018