TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS

Reference is made to JTB’s announcements dated 28 August 2020, 30 July 2020, 16 June 2020, 13 February 2020 and 12 February 2020 in respect of the proposed acquisition of land by a wholly-owned subsidiary, Able Dairies Sdn. Bhd. (“ADSB”). The Company wishes to inform that ADSB had on 15th September 2020 entered into a Sale & Purchase Agreement (“SPA”) with Golden Valley Industries Sdn. Bhd. (“GVISB”)  for the acquisition of a piece of freehold vacant land known as Lot No. 7 measuring approximately 29.031 acres (1,264,590.36 sq. ft.) situated within the Master Land held under Geran 48068, Lot 91, Mukim Klang, Daerah Klang, Negeri Selangor for a total purchase consideration of RM44,260,662.60 (Ringgit Malaysia: Forty Four Million Two Hundred Sixty Thousand Six Hundred Sixty Two and Cents Sixty Only) (“the Proposed Acquisition”) based on RM35.00 per square foot, subject to the terms and conditions as stipulated in the SPA.

The details of the Acquisition are attached to this Announcement.

This announcement is dated 15th September 2020.