Settlement and cancellation agreements executed with Saya Buildcon Consortium

Landmark Property Development Company has executed settlement and cancellation agreements with Saya Buildcon Consortium Private Limited. The agreements cover a 2017 loan agreement, a 2017 inter-corporate deposit agreement, and cancellation of allotment of nine commercial units in the Saya Zion project. The settlement is amicable and mutual, including reciprocal release of claims and withdrawal of legal proceedings. The company says principal monetary obligations were already discharged before execution, and the agreements only formalise the existing settlement.