ARK Resources shareholders to vote on RM28 mil Penang industrial land acquisition on Sept 30

PETALING JAYA (July 31): ARK Resources Holdings Bhd has called an extraordinary general meeting (EGM) on Sept 30, 2026, for shareholders to vote on its proposed RM28 million acquisition of three adjoining parcels of vacant industrial land in Penang.

According to a Bursa Malaysia filing on Thursday (July 30), the EGM will be held at 11.45am at Amari SPICE Penang, immediately following the conclusion or adjournment of the company's ninth annual general meeting.

Shareholders will consider a single ordinary resolution to approve the acquisition by the group's wholly owned subsidiary, Karya Koperat Sdn Bhd, of three adjoining parcels of vacant industrial land measuring a combined 107,058 sq m (1,152,362 sq ft), located in Mukim 13, Daerah Timur Laut, Pulau Pinang, from Boustead Penang Shipyard Sdn Bhd for a cash consideration of RM28 million.

The proposed acquisition is subject to all relevant approvals being obtained, where required, and is pursuant to a conditional sale and purchase agreement dated March 31, 2026.

Shareholders will also be asked to authorise the board to take all necessary steps to implement and complete the proposed acquisition, including agreeing to any conditions, variations or amendments required by the relevant authorities.

Only shareholders whose names appear on the company's Record of Depositors as at Sept 22, 2026 will be entitled to attend and vote at the EGM or appoint proxies to do so on their behalf.

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