HOTEL ROYAL LIMITED HOTEL ROYAL LIMITED
(Incorporated in the Republic of Singapore)
(Co. Reg. No. 196800298G)
THE PROPOSED ACQUISITION OF ROYALE CHULAN BUKIT BINTANG HOTEL AND ITS BUSINESS IN KUALA LUMPUR, MALAYSIA
Where capitalised terms are used in this announcement and not otherwise defined, such capitalised terms shall bear the same meanings as ascribed to them in the Company's announcements dated 19 February 2019, 23 February 2019, 15 March 2019, 3 July 2019, 5 July 2019, 30 August 2019, 5 December 2019, 12 March 2020, 20 May 2020, 5 October 2020, 9 December 2020 and 30 December 2020 ("Announcements") relating to the proposed acquisition of Royale Chulan Bukit Bintang Hotel in Kuala Lumpur, Malaysia ("Proposed Acquisition").
The Board of Directors (the "Board") of Hotel Royal Limited (the "Company", and together with its subsidiaries, collectively the "Group") refers to the Announcements on the Proposed Acquisition and wishes to announce that as a result of a delay in the assessment of stamp duty and the closure of the relevant land office due to the Movement Control Order declared in Kuala Lumpur ("MCO"), the payment period (29 January 2021) of the New Consideration has been extended and the completion of the Proposed Acquisition is delayed pending the lifting of the MCO and/or the reopening of the said land office.
The Company will make further announcement(s) as and when there are material developments in relation to the Proposed Acquisition.
BY ORDER OF THE BOARD
Dr Pang Eng Fong
Chairman
29 January 2021
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Hotel Royal Ltd. published this content on 29 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 January 2021 09:37:09 UTC.
