RIMBUNAN SAWIT | 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 again exceeded the estimated value as disclosed in the Circular by more than 10%, since the date of its last announcement on 21 February 2022, 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 (as per 18 January 2022 announcement) | Actual value transacted from 16 January 2022 to 15 February 2022 (as per 21 February 2022 announcement | Actual value transacted from 16 February 2022 to 15 March 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 | RM838,204/ (13.97% above the Estimated Value) | RM858,268/ (14.30% above the Estimated Value%) | RM764,067.92 | RM764,067.92/ (12.73% above the Estimated Value%) | 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 22 March 2022.
Announcement Info
| Company Name | RIMBUNAN SAWIT BERHAD |
| Stock Name | RSAWIT |
| Date Announced | 22 Mar 2022 |
| Category | General Announcement for PLC |
| Reference Number | GA1-22032022-00034 |
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Disclaimer
Rimbunan Sawit Bhd published this content on 22 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 March 2022 03:03:05 UTC.
