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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Top Creation | LSE:TOPC | London | Ordinary Share | JE00B5Q9HB52 | ORD 0.1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.15 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMTOPC
RNS Number : 0880W
Top Creation Investments Limited
04 November 2014
4 November 2014
Top Creation Investments Limited
("TOPC" or the "Company")
Update on Investment Exit
Change of Advisor
The Company announces that, further to the announcement on 24 September 2014, it now expects to receive the balance of the funds for the sale of Lot 129, being RM7.0m (an initial deposit of RM0.7m was paid at the time the agreement was signed), within the next three weeks.
The funds must be paid within 14 days from the date of presentation to the Land Office in Malaysia of the Memorandum of Transfer ("MOT") and the legal charge in favour of the purchaser. However, prior to this happening, the stamp duty for the transfer needed to be fixed by the Land Office, which occurred on 21 October 2014. On 30 October 2014, the Company signed its MOT form for submission to the Land Office. We expect the purchaser to summit their MOT forms by end of this week and so payment to the Company should follow within two weeks thereafter.
The further RM7.7m, giving an aggregate consideration of RM15.4m for the disposal and which is due in relation to the development costs incurred, has to be paid within three months of 1 October 2014, being the date on which the agreement became unconditional. However, the Company expects to receive these funds at the same time as the balance of the purchase price outlined above.
The Company also gives notice that its current Nominated Advisor, Daniel Stewart & Company Plc, has tendered its resignation and will cease to act for TOPC as of 30 November 2014. If the Company has not appointed another nominated adviser by this date then trading on AIM in the Company's shares will be suspended.
For further information, please contact:
Top Creation Investments Limited Wong Yu Sun, Finance Director Tel: 006012 2778972 Daniel Stewart & Company plc Antony Legge Tel: 020 7776 6550
This information is provided by RNS
The company news service from the London Stock Exchange
END
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