Acquisition Of A 50% Plus One Share Interest In Mont Kiara Specialist Centre Sdn Bhd

On 22 March 2001, Landmarks Berhad ("Landmarks") announced that Point Merge Sdn Bhd ("PMSB"), a wholly-owned subsidiary of Landmarks, had entered into a Share Sale Agreement and a Shareholders' Agreement ("the Agreements") with Consolidated Bond (M) Sdn Bhd ("CBSB") to acquire a 50% plus one share interest in the share capital of MKSC for a purchase consideration of RM8.15 million ("the Transaction").

The Transaction was subject to the following approvals:-
(a) the approval from all relevant authorities for the construction, development and operation of a hospital on land owned by MKSC;
(b) approval, or no objection, of the Foreign Investment Committee ("FIC") to the acquisition of the shares; and
(c) approval of the Securities Commission ("SC"), Kuala Lumpur Stock Exchange ("KLSE") and shareholders of Landmarks ("Shareholders") in the event that the Transaction is to be funded through the issuance of shares, and if applicable (i.e. necessary) the approval of the Shareholders for the Transaction per se.

Landmarks had further announced on 20 November 2001 that FIC had no objection to the Transaction subject to certain conditions (which were set out in the said announcement) and that both CBSB and PMSB had agreed to accept the conditions imposed by FIC.