Greenyield to take over plantation land in PNG

In a filing with Bursa Malaysia, the group said the proposed deal is to be completed via RM3mil in cash, the issuance of up to 226.05 million new shares in Greenyield Bhd at 29 sen per share (amounting up to RM65.55mil) and the issuance of up to 66.4 million new irredeemable convertible preference shares in Greenyield Bhd (ICPS) at 29 sen per ICPS (amounting up to RM19.26mil).

KUALA LUMPUR: Greenyield Bhd has proposed a deal, deemed as a related party transaction, to pay up to RM87.8mil for a 65% stake in Greenyield Rubber Holdings (M) Ltd or GRHM in Papua New Guinea (PNG).

The proposed deal was inked with Greenyield Holdings Sdn Bhd (GHSB), Premium Commodities Sdn Bhd, Tham Foo Keong, Tham Foo Choon, Tham Kin-On and Foong Sai Cheong who are collectively referred to as the vendors.