This announcement is dated 27 March 2025.
On behalf of the board of directors of KPJ (“Board”), AmInvestment Bank Berhad (“AmInvestment Bank”) wishes to announce that KPJ, through its wholly owned subsidiaries had on 27 March 2025 entered into two (2) separate conditional sale and purchase agreements (“SPAs”) with AmanahRaya Trustees Berhad, being the trustee for Al-`Aqar Healthcare REIT (“Al-`Aqar”) (“ART” or “Trustee” or “Purchaser”), for the sale of the 2 properties to Al-`Aqar for a total consideration of RM241 million (“Sale Consideration”) (“Proposed Sale”).
As a condition to the Proposed Sale, each of the subject subsidiary will enter into a lease agreement with the Trustee (acting on behalf of Al-`Aqar), and JLG REIT Managers Sdn. Bhd (formerly known as Damansara REIT Managers Sdn. Berhad), being the manager of Al-`Aqar (“JLGRM” or “Manager”), for the lease of the 2 properties back to the respective subject subsidiaries (“Proposed Leaseback”) upon the terms and conditions of the lease agreement as agreed between the aforesaid parties (“Lease Agreements for Proposed Leaseback”).
The Proposed Sale and Proposed Leaseback are inter-conditional and are collectively referred to as “Proposed Sale and Leaseback”.
KPJ also, through its wholly owned subsidiaries proposes to enter into four (4) separate lease renewal agreements with the Trustee (“Lessor”) and JLGRM (“Proposed Lease Renewal”), to renew the lease of the lease renewal properties upon the terms and conditions agreed between the aforesaid parties (“Lease Agreements for Proposed Lease Renewal”).
The Proposed Sale and Leaseback and Proposed Lease Renewal are collectively referred to as “Proposals”.
Please refer to the attachment for further details on the Proposals.