Landmark Property Development Company Limited
Execution of Settlement and Cancellation Agreements
Main Body
The Company has executed a set of settlement documents with Saya Buildcon Consortium Private Limited on July 7, 2026. The agreements comprise:
- A Settlement Agreement in relation to the Loan Agreement dated 30 May 2017
- A Settlement Agreement in relation to the Inter Corporate Deposit Agreement dated 14 December 2017
- A Cancellation Agreement in relation to cancellation of the allotment of nine commercial units in the project \"Saya Zion\"
The agreements were executed pursuant to an amicable settlement between the parties. Key terms include:
- Full and final settlement of the respective transactions and all rights, claims and obligations arising therefrom
- Cancellation of the allotment of the nine commercial units in accordance with the Cancellation Agreement
- Reciprocal release and discharge of the parties from their respective claims and obligations
- Completion of consequential actions, including withdrawal and/or closure of legal proceedings between the parties
The principal monetary obligations under the settlement arrangements had already been discharged by the respective parties prior to execution of the agreements. The execution formalizes the settlement already implemented and provides the contractual framework for completion of remaining consequential actions.
The Company states that the execution of these agreements is in its commercial interest and is not expected to have any material adverse impact on its financial position or operations. The agreements do not constitute related party transactions, and no promoter/promoter group/group companies have any interest in Saya Buildcon Consortium Private Limited.