Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RECURRENT RELATED PARTY TRANSACTIONS
Description VARIATION BY 10% OR MORE BETWEEN ACTUAL VALUE AND ESTIMATED VALUE OF RECURRENT RELATED PARTY TRANSACTIONS ("RRPT") PURSUANT TO THE SHAREHOLDERS' MANDATE

Reference is made to Rimbunan Sawit Berhad ("RSB")'s Circular to Shareholders dated 30 April 2021 ("the Circular") in relation to the proposed renewal of existing shareholders' mandate and proposed new shareholders' mandate for RRPT of a revenue or trading nature ("Proposed Mandate"). The Proposed Mandate was approved by the shareholders of RSB at its 16th Annual General Meeting held on 11 August 2021.

RSB wishes to announce that the actual value of RRPT entered into by its subsidiary namely RSB Lundu Palm Oil Mill Sdn Bhd ("RSB Lundu") and the related parties namely Borneo Affluence Sdn. Bhd., Mighty Roar Sdn. Bhd. And Welth Ezy Sdn. Bhd. have exceeded the estimated value as disclosed in the Circular by more than 10%, details as set out below:

Nature of RRPT

Estimated value as disclosed in the Circular ("Estimated Value")

Actual value transacted from 11 August 2021 to 15 January 2022

("Actual Value")

Variation between Actual Value and Estimated Value

Reason for the Variation

Fresh Fruit Bunches ("FFB") purchased by RSB Lundu

RM6,000,000

RM6,838,204

RM838,204/

(13.97%)

The actual average price per Metric Tonne (MT) of FFB was higher as compared to the estimated price per MT used to calculate the Estimated Value and the quantity of the FFB purchased was more than estimated volume

This announcement is dated 18 January 2022.

Announcement Info

Company Name RIMBUNAN SAWIT BERHAD
Stock Name RSAWIT
Date Announced 18 Jan 2022
Category General Announcement for PLC
Reference Number GA1-18012022-00004

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Rimbunan Sawit Bhd published this content on 18 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2022 03:51:04 UTC.