KPJ Healthcare Bhd will exclude the Seremban Specialist Hospital Building from its earlier proposed disposal of its entire interest in four properties to KPJ Healthcare Real Estate Investment Trust (REITs).
Besides the Seremban Specialist Hospital, the earlier disposal plan involved entire interest in Ampang Puteri Specialist Hospital Building, Damansara Specialist Hospital Building and Johor Specialist Hospital Building.
In a statement to Bursa Malaysia today, it said the revised proposal would see a total sale consideration of RM300.3mil, which is to be satisfied partly by cash consideration of RM207.3mil and partly by the issuance of 92.999 million new units in KPJ Healthcare REIT at an indicative issue price of RM1 per unit to be credited as fully paid-up. The net cash proceeds from the revised plan, amounting to RM183.45mil, would be utilised principally for the repayment of KPJ and its subsidiaries' bank borrowing, working capital and estimated expenses for the revised proposed disposals, it said.
Following the proposed payment to the banks from the proceeds, the bank borrowings would be reduced to RM174.3mil. –Bernama