KLSE (MYR): JAKS (4723)
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Last Price
0.135
Today's Change
+0.005 (3.85%)
Day's Change
0.13 - 0.135
Trading Volume
3,165,200
2024-11-13
2024-11-07
2024-11-07
2024-11-05
2024-11-05
Mikecyc
46,546 posts
Posted by Mikecyc > 1 week ago | Report Abuse
Further to the Company's announcement dated 5 November 2024, the Company wishes to announce the other salient terms of the Settlement Agreement as follows: - 1. JRB shall pay to Star Media Group Berhad (“STAR”) the sum of Ringgit Malaysia Five Million (RM5,000,000-00) by way of cash settlement within twelve (12) months from the date of this Settlement Agreement. 2. The Title to Tower A shall be delivered to STAR pursuant to the SPA within three (3) years from the date of this Settlement Agreement (“Title Delivery Date”), failing which STAR shall be entitled to late delivery interests at the rate of five per centum (5%) per annum calculated on the sum of Ringgit Malaysia One Hundred and Thirty-Four Million Five Hundred Thousand (RM134,500,000-00) from first (1st) day after the Title Delivery Date until the Title to Tower A has been delivered to STAR. 3. Both parties shall withdraw all suits and counterclaim with no order as to cost and without liberty to file afresh which has been done. Save for the settlement amounts to be paid, the Settlement Agreement is not expected to have any material financial or operational impact to the Group. This announcement is dated 6 November 2024.