|Company Name||RIMBUNAN SAWIT BERHAD|
|Date Announced||23 May 2022|
|Category||General Announcement for PLC|
|Subject||TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RECURRENT RELATED PARTY TRANSACTIONS
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 17 May 2022, details as set out below:
This announcement is dated 23 May 2022.