Figminna, the wholly-owned subsidiary of SGX-listed Figtree Holdings , has agreed to sell a unit in its Esme development project in Victoria, Australia to Siaw Kai Shi Cassandra at A$1.4 million ($1.24 million). The price represents a discount of 1.65% to the listed sale price of A$1.42 million.
The option to purchase was granted to Siaw Kent Ket @ Danny Siaw, the managing director and controlling shareholder of Figtree Holdings, on Sept 2. Cassandra is his daughter.
According to the group, the discount is extended to all employees of the Figtree Holdings who are interested in purchasing a unit in Esme. No further special or preferential terms were accorded to the purchaser for the purchase of the unit.
The terms and conditions of the sale have been reviewed and approved by the audit committee.
In addition to the sale, there were also interests accrued amounting to $25,924 payable to the elder Siaw in relation to loans extended by him to the group, from Jan 1 to June 30.
Esme is located at 1 - 3 Minna Street, Blackburn, in Victoria.
See also: CDL divests assets worth more than $600 million in 2024
Shares in Figtree Holdings closed flat at 1.7 cents on Sept 2.
