MEMS - Submission of Financial Statements
Announcement Type: Investor Alert Announcement
Company Name: MEMS TECHNOLOGY BERHAD
Stock Name: MEMS
Date Announced: 01/06/2010
Announcement Detail:
Subject: Submission of Financial Statements
Contents: The Company has submitted its outstanding Annual Audited Accounts for the financial year ended 31 July 2009, which was due to be submitted to Bursa Malaysia Securities Berhad ("Bursa Securities") within the stipulated extension of time granted by Bursa Securities for public release on or before 27 February 2010. Please refer to the Listing Circular No L/Q : 56965 of 2010 dated 6 May 2010.
Company Name: MEMS TECHNOLOGY BERHAD
Stock Name: MEMS
Date Announced: 01/06/2010
Announcement Detail:
Subject: Submission of Financial Statements
Contents: The Company has submitted its outstanding Annual Audited Accounts for the financial year ended 31 July 2009, which was due to be submitted to Bursa Malaysia Securities Berhad ("Bursa Securities") within the stipulated extension of time granted by Bursa Securities for public release on or before 27 February 2010. Please refer to the Listing Circular No L/Q : 56965 of 2010 dated 6 May 2010.
MEMS - Quarterly rpt on consolidated results for the financial period ended 31/10/2009
Announcement Type: Financial Results
Company Name: MEMS TECHNOLOGY BERHAD (ACE Market)
Stock Name: MEMS
Date Announced: 01/06/2010
Announcement Detail:
Regularisation Sponsor: AmInvestment Bank Bhd
Sponsor: Same as above
Financial Year End: 31/07/2010
Quarter: 1
Quarterly report for the financial period ended: 31/10/2009
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
Company Name: MEMS TECHNOLOGY BERHAD (ACE Market)
Stock Name: MEMS
Date Announced: 01/06/2010
Announcement Detail:
Regularisation Sponsor: AmInvestment Bank Bhd
Sponsor: Same as above
Financial Year End: 31/07/2010
Quarter: 1
Quarterly report for the financial period ended: 31/10/2009
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
SERSOL - Change in Boardroom
Announcement Type: Change in Boardroom
Company Name: SERSOL TECHNOLOGIES BERHAD (ACE Market)
Stock Name: SERSOL
Date Announced: 01/06/2010
Announcement Detail:
Date of change: 01/06/2010
Type of change: Resignation
Designation: Executive Director
Directorate: Executive
Name: TAN BEE NGOH
Age: 48
Nationality: MALAYSIAN
Qualifications: BACHELOR OF ECONOMICS DEGREE FROM THE UNIVERSITY OF WINNIPEG, CANADA IN 1986.
Working experience and occupation: i. PURCHASER IN CLAYTAN INDUSTRIES SDN BHD
ii. PERSONNEL OFFICER IN FAIRWOOD FURNITURE (M) SDN BHD
iii. DIRECTOR AND THE ADMINISTRATOR IN MULTI SQUARE SDN BHD
Directorship of public companies (if any): NIL
Family relationship with any director and/or major shareholder of the listed issuer: SPOUSE OF MR. TAN FIE PING, THE MANAGING DIRECTOR OF SERSOL TECHNOLOGIES BERHAD.
Any conflict of interests that he/she has with the listed issuer: NIL
Details of any interest in the securities of the listed issuer or its subsidiaries: NIL
Remarks: This announcement is dated 1 June 2010.
Company Name: SERSOL TECHNOLOGIES BERHAD (ACE Market)
Stock Name: SERSOL
Date Announced: 01/06/2010
Announcement Detail:
Date of change: 01/06/2010
Type of change: Resignation
Designation: Executive Director
Directorate: Executive
Name: TAN BEE NGOH
Age: 48
Nationality: MALAYSIAN
Qualifications: BACHELOR OF ECONOMICS DEGREE FROM THE UNIVERSITY OF WINNIPEG, CANADA IN 1986.
Working experience and occupation: i. PURCHASER IN CLAYTAN INDUSTRIES SDN BHD
ii. PERSONNEL OFFICER IN FAIRWOOD FURNITURE (M) SDN BHD
iii. DIRECTOR AND THE ADMINISTRATOR IN MULTI SQUARE SDN BHD
Directorship of public companies (if any): NIL
Family relationship with any director and/or major shareholder of the listed issuer: SPOUSE OF MR. TAN FIE PING, THE MANAGING DIRECTOR OF SERSOL TECHNOLOGIES BERHAD.
Any conflict of interests that he/she has with the listed issuer: NIL
Details of any interest in the securities of the listed issuer or its subsidiaries: NIL
Remarks: This announcement is dated 1 June 2010.
TMS - General Announcement
Announcement Type: General Announcement
Company Name: THE MEDIA SHOPPE BERHAD (ACE Market)
Stock Name: TMS
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: THE MEDIA SHOPPE BERHAD ("TMS" OR THE "COMPANY")
SUBSCRIPTION AND JOINT VENTURE AGREEMENT ("SJV AGREEMENT") BETWEEN TMS, SPLOTZ INC SDN BHD ("SPLOTZ") AND OPEN DYNAMICS SDN BHD ("OPEN DYNAMICS")
Contents: 1. INTRODUCTION
The Board of Directors of TMS ("Board") is pleased to announce that TMS had on 1 June 2010 entered into a SJV Agreement with Splotz and Open Dynamics.to subscribe as shareholder in the share capital of Open Dynamics. Under the JV Agreement, TMS is to subscribe for 198,998 ordinary shares of RM1.00 each in Open Dynamics at RM1.00 each and Splotz is to subscribe for 801,000 ordinary shares of RM1.00 each in Open Dynamics at a par value of RM1.00 each and premium of RM1.10 each ("Subscription Shares") ("Subscription and Joint Venture") in the Company.
The total paid-up and issued share capital of Open Dynamics will increase from RM2.00 to RM1,000,000 comprising ordinary shares of RM1.00 each and to be held, as to 19.9% by TMS and 80.1% by Splotz. Upon completion of the subscription, TMS and Splotz will hold the entire enlarged issued and paid-up share capital of Open Dynamics and their relationship in Open Dynamics as shareholders will be regulated in the manner set out in the JV Agreement.
The principal activities of Open Dynamics will be to carry out the business of research and development, marketing of open source software and to provide training, support and professional services and such other business as may from time to time be determined by the shareholders ("Business").
2. DETAILS OF THE SUBSCRIPTION AND JOINT VENTURE
The Subscription and Joint Venture would involve the additional subscription by TMS of 198,998 Open Dynamics Shares for a total subscription value of RM198,998 as well as the subscription by Splotz of 801,000 Open Dynamics Shares for a total subscription value of RM1,682,100.
The enlarged issued and paid-up share capital of Open Dynamics shall be RM1,000,000 comprising 1,000,000 ordinary shares of RM1.00 each to be subscribed by TMS and Splotz ("Shareholder(s)") to give a resultant shareholding and proportion of shareholdings as follows:-
Resultant shareholding and proportion of shareholding subsequent to the Subscription and Joint Venture are set out in Appendix A.
Upon completion of the Subscription and Joint Venture, TMS and Splotz will hold the entire enlarged issued and paid-up share capital of Open Dynamics and their relationship in Open Dynamics as shareholders will be regulated in the manner set out in the SJV Agreement.
2.1 Salient Terms of the SJV Agreement
The Shareholders agree that, save as otherwise permitted by the SJV Agreement, their respective shareholding in Open Dynamics shall, on and from subscription of the Subscription Shares, be held at all times in the respective proportions as set out in Section 2 above.
The Subscription Shares shall be issued by Open Dynamics free from encumbrances, and each Subscription Share shall rank pari passu with all existing and future ordinary shares.
The Shareholders agree that any new shares issued by Open Dynamics ("Offered Shares") may only be issued with the prior written approval of the Shareholders and the Offered Shares shall be first offered to each of the Shareholders in proportion to their respective shareholdings in Open Dynamics at the time of the proposed new issue.
If any of such Offered Shares remain unsubscribed by the Shareholders, the Board of Directors of Open Dynamics may offer those shares to one or more third parties acceptable to the Shareholders at a price not lower than the issue price.
Such third party must execute a deed of accession under which such third party shall agree to be bound by the obligations and shall be entitled to the benefit of the SJV Agreement.
TMS, Splotz and Open Dynamics agree that TMS shall, throughout a period of twenty four (24) months from the date of the audited accounts showing the first profit before tax of Open Dynamics ("Option Period") have the option to purchase from Splotz, the number of ordinary shares equivalent to 10.1% of Open Dynamics' shares beneficially owned by and registered under Splotz ("Option Shares") at a fair price ("Call Option Price").
The call option may be exercised by TMS by notice in writing to Splotz given at any time during the Option Period ("Call Option Notice").
In the event TMS exercises its call option rights, Splotz and Open Dynamics agree to ensure that the sale and purchase of the shares pursuant to the call option is completed within 30 days from the date of the Call Option Notice.
Splotz further agrees that it shall not, prior to the exercise of the call option or the expiry of the Option Period, transfer, dispose of, charge, pledge or encumber in any way its interest in any of the Option Shares to any party other than TMS.
The SJV Agreement also contains provisions such astermination/remedies, reserved matters, deadlock resolution and pre-emption rights of the parties.
2.2 Conditions Precedent to the Subscription and Joint Venture
The subscription and issuance of the Subscription Shares are conditional upon:
(a) the issue of the Subscription Shares and the obligation of TMS and Splotz to subscribe for the Subscription Shares not being prohibited or impeded by any statute, order, rule, directive or regulation promulgated by any relevant authorities on or before the completion of the subscription and issuance of Subscription Shares ("Completion");
(b) the approval of the Board for the acquisition of the Subscription Shares under the SJV Agreement;
(c) the approval of Splotz's Board of Directors for the acquisition of the Subscription Shares under the SJV Agreement;
(d) the Parties receiving from each other by the date of the SJV Agreement a copy certified by a Director or Secretary of such other Party (as the case may be), a resolution of the Board of Directors of such other Party has been passed to:
(i) approve the SJV Agreement and all other transactions and matters contemplated by it; and
(ii) authorise a person or persons to sign and deliver on behalf of such other Party the SJV Agreement;
(e) all other consents and approvals necessary for the subscription by TMS and/or Splotz of the Subscription Shares and the transactions contemplated in the SJV Agreement having been obtained and the same remaining valid and continuing to be in full force and effect on the day of allotment and issue of the Subscription Shares and that all conditions imposed by the relevant authorities and/or persons have been fully complied with.
3. INFORMATION ON OPEN DYNAMICS
Open Dynamics was incorporated in Malaysia on 24 November 2009 and principal activities of Open Dynamics is to carry out the business of research and development, marketing of open source software and to provide training, support and professional services.
Audited Financial Year Ended 31 December 2009 (RM):
a. Share Capital
- Authorised 5,000,000
- Paid-up 2.00
b. Total Equity (20,414)
c. Net Loss 20,416
4. INFORMATION ON SPLOTZ
Splotz was incorporated in Malaysia and is principally engaged as an investment holding company. The directors and substantial shareholders of Splotz as well as their respective shareholdings as at 1 June 2010 in Splotz are set out in Appendix B.
5. RATIONALE AND BENEFITS FOR THE SUBSCRIPTION AND JOINT VENTURE
The new business model able to generate cash into the Company, however, the model is not proven and TMS is unable to fund the working capital of this new venture.
The current business model of the Company is new and needs to be one of its kind in the region. Although is new concept, the entire model is revolutionary and is expected to excel in the market. Be as it may, the entire funding for the concept is substantial and the feasibility of this new business model, although promising, is unproven in the market. Hence in order to remain prudent, a joint venture is necessary to fund the entire business with minimum risk exposure in terms of funding.
6. PROSPECTS OF OPEN DYNAMICS
Open Dynamics is using a commercial open source business model. Using the power and reach of the internet, a free open source product allows for mass global reach at a low adaptation cost. With mass global adoption, monetizing just a small fraction of the community will lead to massive returns.
By capitalizing on the internet, which connects the globe on a singular platform, a free open source product will allow implementation and utilisation at every part of the globe at a low adaptation cost. With such mass utilization and global adaptation of the system, capturing a small percentage will lead to huge returns. This will thus benefit Open Dynamics.
7. RISK FACTORS
The Subscription and Joint Venture is subject to various risks inherent in the software industry, including but not limited to business risks, dependence on key personnel, the prevailing economic environment, the political, economic, regulatory and social conditions as well as joint venture risks.
There can be no assurance that the anticipated benefits from the Subscription and Joint Venture will be realised, and that the TMS and its subsidiaries ("TMS Group") will be able to generate sufficient revenue from the Subscription and Joint Venture to offset the associated costs. Nevertheless, the Board has and will continue to exercise due care in considering the risks and benefits associated with the Subscription and Joint Venture and will take appropriate measures in planning the successful integration of this joint venture with its current business operations.
Further, TMS Group is already involved in the software industry and exposed to similar industry risks.
8. SOURCE OF FUNDING AND ASSUMPTION OF LIABILITIES
The subscription of 198,998 shares in Open Dynamics by TMS is funded by internal generated funds.
As at the date of this announcement, there are no liabilities, including contingent liabilities and guarantees to be assumed by the TMS Group arising from the SJV Agreement.
9. EFFECTS
9.1 Net assets per share, earnings per share and gearing
The Subscription and Joint Venture will generate a one-off gain on disposal of subsidiary of RM763,155 and accordingly will contribute positively to the net assets per share and earnings per share of TMS for the financial year ending 31 December 2010. After this exercise, Open Dynamics will cease to be wholly owned subsidiary of TMS.
The Subscription and Joint Venture will not have any material effect on the gearing of TMS for the financial year ended 31 December 2010.
9.2 Issued and Paid-Up Capital and Substantial Shareholders' shareholdings
The Subscription and Joint Venture will not have any effect on the issued and paid-up share capital and substantial shareholders' shareholdings of TMS as it does not involve issuance of new shares by TMS.
10. APPROVALS REQUIRED
The SJV Agreement is not subject to the approval of the shareholders of TMS or approvals from the relevant authorities.
11. DIRECTORS' AND/OR MAJOR SHAREHOLDERS' INTERESTS
None of the Directors or major shareholders of TMS or persons connected to them have any interest, direct or indirect, in the Subscription and Joint Venture.
12. STATEMENT BY THE BOARD
The Board, having considered all the relevant factors in respect of the Subscription and Joint Venture is of the opinion that the Subscription and Joint Venture is in the best interest of TMS.
13. COMPLETION
The Subscription and Joint Venture is completed on 1 June 2010.
14. PERCENTAGE RATIO OF THE SUBSCRIPTION AND JOINT VENTURE
The highest percentage ratio applicable to the Subscription and Joint Venture is 14.01%, being the aggregate value of the consideration given or received in relation to the transaction of RM1,198,998, compared with the market value of all the ordinary shares of TMS of RM8,556,834.
15. DOCUMENTS AVAILABLE FOR INSPECTION
The SJV Agreement is available for inspection at the registered office of the Company at 10th Floor, Menara Hap Seng, No. 1 & 3, Jalan P. Ramlee, 50250 Kuala Lumpur during normal business hours from Monday to Friday (except public holidays) for a period of three (3) months from the date of this announcement.
This announcement is dated 1 June 2010.
Company Name: THE MEDIA SHOPPE BERHAD (ACE Market)
Stock Name: TMS
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: THE MEDIA SHOPPE BERHAD ("TMS" OR THE "COMPANY")
SUBSCRIPTION AND JOINT VENTURE AGREEMENT ("SJV AGREEMENT") BETWEEN TMS, SPLOTZ INC SDN BHD ("SPLOTZ") AND OPEN DYNAMICS SDN BHD ("OPEN DYNAMICS")
Contents: 1. INTRODUCTION
The Board of Directors of TMS ("Board") is pleased to announce that TMS had on 1 June 2010 entered into a SJV Agreement with Splotz and Open Dynamics.to subscribe as shareholder in the share capital of Open Dynamics. Under the JV Agreement, TMS is to subscribe for 198,998 ordinary shares of RM1.00 each in Open Dynamics at RM1.00 each and Splotz is to subscribe for 801,000 ordinary shares of RM1.00 each in Open Dynamics at a par value of RM1.00 each and premium of RM1.10 each ("Subscription Shares") ("Subscription and Joint Venture") in the Company.
The total paid-up and issued share capital of Open Dynamics will increase from RM2.00 to RM1,000,000 comprising ordinary shares of RM1.00 each and to be held, as to 19.9% by TMS and 80.1% by Splotz. Upon completion of the subscription, TMS and Splotz will hold the entire enlarged issued and paid-up share capital of Open Dynamics and their relationship in Open Dynamics as shareholders will be regulated in the manner set out in the JV Agreement.
The principal activities of Open Dynamics will be to carry out the business of research and development, marketing of open source software and to provide training, support and professional services and such other business as may from time to time be determined by the shareholders ("Business").
2. DETAILS OF THE SUBSCRIPTION AND JOINT VENTURE
The Subscription and Joint Venture would involve the additional subscription by TMS of 198,998 Open Dynamics Shares for a total subscription value of RM198,998 as well as the subscription by Splotz of 801,000 Open Dynamics Shares for a total subscription value of RM1,682,100.
The enlarged issued and paid-up share capital of Open Dynamics shall be RM1,000,000 comprising 1,000,000 ordinary shares of RM1.00 each to be subscribed by TMS and Splotz ("Shareholder(s)") to give a resultant shareholding and proportion of shareholdings as follows:-
Resultant shareholding and proportion of shareholding subsequent to the Subscription and Joint Venture are set out in Appendix A.
Upon completion of the Subscription and Joint Venture, TMS and Splotz will hold the entire enlarged issued and paid-up share capital of Open Dynamics and their relationship in Open Dynamics as shareholders will be regulated in the manner set out in the SJV Agreement.
2.1 Salient Terms of the SJV Agreement
The Shareholders agree that, save as otherwise permitted by the SJV Agreement, their respective shareholding in Open Dynamics shall, on and from subscription of the Subscription Shares, be held at all times in the respective proportions as set out in Section 2 above.
The Subscription Shares shall be issued by Open Dynamics free from encumbrances, and each Subscription Share shall rank pari passu with all existing and future ordinary shares.
The Shareholders agree that any new shares issued by Open Dynamics ("Offered Shares") may only be issued with the prior written approval of the Shareholders and the Offered Shares shall be first offered to each of the Shareholders in proportion to their respective shareholdings in Open Dynamics at the time of the proposed new issue.
If any of such Offered Shares remain unsubscribed by the Shareholders, the Board of Directors of Open Dynamics may offer those shares to one or more third parties acceptable to the Shareholders at a price not lower than the issue price.
Such third party must execute a deed of accession under which such third party shall agree to be bound by the obligations and shall be entitled to the benefit of the SJV Agreement.
TMS, Splotz and Open Dynamics agree that TMS shall, throughout a period of twenty four (24) months from the date of the audited accounts showing the first profit before tax of Open Dynamics ("Option Period") have the option to purchase from Splotz, the number of ordinary shares equivalent to 10.1% of Open Dynamics' shares beneficially owned by and registered under Splotz ("Option Shares") at a fair price ("Call Option Price").
The call option may be exercised by TMS by notice in writing to Splotz given at any time during the Option Period ("Call Option Notice").
In the event TMS exercises its call option rights, Splotz and Open Dynamics agree to ensure that the sale and purchase of the shares pursuant to the call option is completed within 30 days from the date of the Call Option Notice.
Splotz further agrees that it shall not, prior to the exercise of the call option or the expiry of the Option Period, transfer, dispose of, charge, pledge or encumber in any way its interest in any of the Option Shares to any party other than TMS.
The SJV Agreement also contains provisions such astermination/remedies, reserved matters, deadlock resolution and pre-emption rights of the parties.
2.2 Conditions Precedent to the Subscription and Joint Venture
The subscription and issuance of the Subscription Shares are conditional upon:
(a) the issue of the Subscription Shares and the obligation of TMS and Splotz to subscribe for the Subscription Shares not being prohibited or impeded by any statute, order, rule, directive or regulation promulgated by any relevant authorities on or before the completion of the subscription and issuance of Subscription Shares ("Completion");
(b) the approval of the Board for the acquisition of the Subscription Shares under the SJV Agreement;
(c) the approval of Splotz's Board of Directors for the acquisition of the Subscription Shares under the SJV Agreement;
(d) the Parties receiving from each other by the date of the SJV Agreement a copy certified by a Director or Secretary of such other Party (as the case may be), a resolution of the Board of Directors of such other Party has been passed to:
(i) approve the SJV Agreement and all other transactions and matters contemplated by it; and
(ii) authorise a person or persons to sign and deliver on behalf of such other Party the SJV Agreement;
(e) all other consents and approvals necessary for the subscription by TMS and/or Splotz of the Subscription Shares and the transactions contemplated in the SJV Agreement having been obtained and the same remaining valid and continuing to be in full force and effect on the day of allotment and issue of the Subscription Shares and that all conditions imposed by the relevant authorities and/or persons have been fully complied with.
3. INFORMATION ON OPEN DYNAMICS
Open Dynamics was incorporated in Malaysia on 24 November 2009 and principal activities of Open Dynamics is to carry out the business of research and development, marketing of open source software and to provide training, support and professional services.
Audited Financial Year Ended 31 December 2009 (RM):
a. Share Capital
- Authorised 5,000,000
- Paid-up 2.00
b. Total Equity (20,414)
c. Net Loss 20,416
4. INFORMATION ON SPLOTZ
Splotz was incorporated in Malaysia and is principally engaged as an investment holding company. The directors and substantial shareholders of Splotz as well as their respective shareholdings as at 1 June 2010 in Splotz are set out in Appendix B.
5. RATIONALE AND BENEFITS FOR THE SUBSCRIPTION AND JOINT VENTURE
The new business model able to generate cash into the Company, however, the model is not proven and TMS is unable to fund the working capital of this new venture.
The current business model of the Company is new and needs to be one of its kind in the region. Although is new concept, the entire model is revolutionary and is expected to excel in the market. Be as it may, the entire funding for the concept is substantial and the feasibility of this new business model, although promising, is unproven in the market. Hence in order to remain prudent, a joint venture is necessary to fund the entire business with minimum risk exposure in terms of funding.
6. PROSPECTS OF OPEN DYNAMICS
Open Dynamics is using a commercial open source business model. Using the power and reach of the internet, a free open source product allows for mass global reach at a low adaptation cost. With mass global adoption, monetizing just a small fraction of the community will lead to massive returns.
By capitalizing on the internet, which connects the globe on a singular platform, a free open source product will allow implementation and utilisation at every part of the globe at a low adaptation cost. With such mass utilization and global adaptation of the system, capturing a small percentage will lead to huge returns. This will thus benefit Open Dynamics.
7. RISK FACTORS
The Subscription and Joint Venture is subject to various risks inherent in the software industry, including but not limited to business risks, dependence on key personnel, the prevailing economic environment, the political, economic, regulatory and social conditions as well as joint venture risks.
There can be no assurance that the anticipated benefits from the Subscription and Joint Venture will be realised, and that the TMS and its subsidiaries ("TMS Group") will be able to generate sufficient revenue from the Subscription and Joint Venture to offset the associated costs. Nevertheless, the Board has and will continue to exercise due care in considering the risks and benefits associated with the Subscription and Joint Venture and will take appropriate measures in planning the successful integration of this joint venture with its current business operations.
Further, TMS Group is already involved in the software industry and exposed to similar industry risks.
8. SOURCE OF FUNDING AND ASSUMPTION OF LIABILITIES
The subscription of 198,998 shares in Open Dynamics by TMS is funded by internal generated funds.
As at the date of this announcement, there are no liabilities, including contingent liabilities and guarantees to be assumed by the TMS Group arising from the SJV Agreement.
9. EFFECTS
9.1 Net assets per share, earnings per share and gearing
The Subscription and Joint Venture will generate a one-off gain on disposal of subsidiary of RM763,155 and accordingly will contribute positively to the net assets per share and earnings per share of TMS for the financial year ending 31 December 2010. After this exercise, Open Dynamics will cease to be wholly owned subsidiary of TMS.
The Subscription and Joint Venture will not have any material effect on the gearing of TMS for the financial year ended 31 December 2010.
9.2 Issued and Paid-Up Capital and Substantial Shareholders' shareholdings
The Subscription and Joint Venture will not have any effect on the issued and paid-up share capital and substantial shareholders' shareholdings of TMS as it does not involve issuance of new shares by TMS.
10. APPROVALS REQUIRED
The SJV Agreement is not subject to the approval of the shareholders of TMS or approvals from the relevant authorities.
11. DIRECTORS' AND/OR MAJOR SHAREHOLDERS' INTERESTS
None of the Directors or major shareholders of TMS or persons connected to them have any interest, direct or indirect, in the Subscription and Joint Venture.
12. STATEMENT BY THE BOARD
The Board, having considered all the relevant factors in respect of the Subscription and Joint Venture is of the opinion that the Subscription and Joint Venture is in the best interest of TMS.
13. COMPLETION
The Subscription and Joint Venture is completed on 1 June 2010.
14. PERCENTAGE RATIO OF THE SUBSCRIPTION AND JOINT VENTURE
The highest percentage ratio applicable to the Subscription and Joint Venture is 14.01%, being the aggregate value of the consideration given or received in relation to the transaction of RM1,198,998, compared with the market value of all the ordinary shares of TMS of RM8,556,834.
15. DOCUMENTS AVAILABLE FOR INSPECTION
The SJV Agreement is available for inspection at the registered office of the Company at 10th Floor, Menara Hap Seng, No. 1 & 3, Jalan P. Ramlee, 50250 Kuala Lumpur during normal business hours from Monday to Friday (except public holidays) for a period of three (3) months from the date of this announcement.
This announcement is dated 1 June 2010.
DISTECH - General Announcement
Announcement Type: General Announcement
Company Name: DIS TECHNOLOGY HOLDINGS BERHAD (ACE Market)
Stock Name: DISTECH
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: DIS TECHNOLOGY HOLDINGS BERHAD ("DIST" OR "COMPANY")
- MONTHLY ANNOUNCEMENT ON THE STATUS OF PLAN TO REGULARIZE FINANCIAL CONDITIONS PURSUANT TO GUIDANCE NOTE 3 ("GN3") OF BURSA MALAYSIA SECURITIES BERHAD ACE MARKET LISTING REQUIREMENTS ("AMLR")
Contents: Further to the announcements made by the Company on 7 April 2010 and 3 May 2010 and in compliance with paragraph(b) of GN3 of the AMLR, the Board of Directors of DIST its obligations under paragraph 4.1(a)(iv) of GN3 wish to announce that:-
Ongoing efforts are being made by the Company for appointment of a sponsor for the Company.
Pursuant to Rule 8.04 (3)(a)(ii) of AMLR and Paragraph 4.1(b) of GN3, the last day for appointment of a sponsor is due on 6 July 2010.
Pursuant to Paragraph 4.1(b) of GN3, the last day for submission of a regularization plan by the Company to Bursa is due on 6 April 2011.
This announcement is dated 1 June 2010
Company Name: DIS TECHNOLOGY HOLDINGS BERHAD (ACE Market)
Stock Name: DISTECH
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: DIS TECHNOLOGY HOLDINGS BERHAD ("DIST" OR "COMPANY")
- MONTHLY ANNOUNCEMENT ON THE STATUS OF PLAN TO REGULARIZE FINANCIAL CONDITIONS PURSUANT TO GUIDANCE NOTE 3 ("GN3") OF BURSA MALAYSIA SECURITIES BERHAD ACE MARKET LISTING REQUIREMENTS ("AMLR")
Contents: Further to the announcements made by the Company on 7 April 2010 and 3 May 2010 and in compliance with paragraph(b) of GN3 of the AMLR, the Board of Directors of DIST its obligations under paragraph 4.1(a)(iv) of GN3 wish to announce that:-
Ongoing efforts are being made by the Company for appointment of a sponsor for the Company.
Pursuant to Rule 8.04 (3)(a)(ii) of AMLR and Paragraph 4.1(b) of GN3, the last day for appointment of a sponsor is due on 6 July 2010.
Pursuant to Paragraph 4.1(b) of GN3, the last day for submission of a regularization plan by the Company to Bursa is due on 6 April 2011.
This announcement is dated 1 June 2010
DISTECH - General Announcement
Announcement Type: General Announcement
Company Name: DIS TECHNOLOGY HOLDINGS BERHAD (ACE Market)
Stock Name: DISTECH
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: DIS TECHNOLOGY HOLDINGS BERHAD ("DIST" OR "COMPANY")
- MONTHLY ANNOUNCEMENT ON THE STATUS OF ITS DEFAULT PAYMENT PURSUANT TO GUIDANCE NOTE 5 ("GN5") OF ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD
Contents: Reference is made to the announcements dated 6 April 2010 and 3 May 2010 pursuant to its default status as per Guidance Note 5 ("GN5") of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad.
Pursuant to Paragraph 3.2(a) of GN5, the Board of Directors of DIST wishes to update on the details and status of the various credit facilities in default by the Company and its subsidiaries to the financial institutions as at 31 May 2010, as set out in Table 1 of the Appendix of this Announcement.
Save as disclosed above, there were no other material developments on the status of default since the announcements made on 6 April 2010 and 3 May 2010.
This announcement is dated 1 June 2010.
Attachments: Table 1.xls
Company Name: DIS TECHNOLOGY HOLDINGS BERHAD (ACE Market)
Stock Name: DISTECH
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: DIS TECHNOLOGY HOLDINGS BERHAD ("DIST" OR "COMPANY")
- MONTHLY ANNOUNCEMENT ON THE STATUS OF ITS DEFAULT PAYMENT PURSUANT TO GUIDANCE NOTE 5 ("GN5") OF ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD
Contents: Reference is made to the announcements dated 6 April 2010 and 3 May 2010 pursuant to its default status as per Guidance Note 5 ("GN5") of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad.
Pursuant to Paragraph 3.2(a) of GN5, the Board of Directors of DIST wishes to update on the details and status of the various credit facilities in default by the Company and its subsidiaries to the financial institutions as at 31 May 2010, as set out in Table 1 of the Appendix of this Announcement.
Save as disclosed above, there were no other material developments on the status of default since the announcements made on 6 April 2010 and 3 May 2010.
This announcement is dated 1 June 2010.
Attachments: Table 1.xls
EFORCE - EXCEL FORCE MSC BERHAD - ANNOUNCEMENT ON THE EIGHTH ANNUAL GENERAL MEETING ("8th AGM")
Announcement Type: General Announcement
Company Name: EXCEL FORCE MSC BERHAD (ACE Market)
Stock Name: EFORCE
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: EXCEL FORCE MSC BERHAD
- ANNOUNCEMENT ON THE EIGHTH ANNUAL GENERAL MEETING ("8th AGM")
Contents: The Company wishes to announce that all the resolutions as set out in the Notice of the 8th AGM dated 10 May 2010 were duly passed and carried at the 8th AGM of the Company duly convened and held on 1 June 2010.
This announcement is dated 1 June 2010.
Company Name: EXCEL FORCE MSC BERHAD (ACE Market)
Stock Name: EFORCE
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: EXCEL FORCE MSC BERHAD
- ANNOUNCEMENT ON THE EIGHTH ANNUAL GENERAL MEETING ("8th AGM")
Contents: The Company wishes to announce that all the resolutions as set out in the Notice of the 8th AGM dated 10 May 2010 were duly passed and carried at the 8th AGM of the Company duly convened and held on 1 June 2010.
This announcement is dated 1 June 2010.
FASTRAK - Change in Boardroom
Announcement Type: Change in Boardroom
Company Name: FAST TRACK SOLUTION HOLDINGS BERHAD (ACE Market)
Stock Name: FASTRAK
Date Announced: 01/06/2010
Announcement Detail:
Date of change: 31/05/2010
Type of change: Resignation
Designation: Executive Director
Directorate: Executive
Name: Chieng Siong Kuong
Age: 36
Nationality: Malaysian
Qualifications: He is an Associate member of the Association of Chartered Certified Accountants (United Kingdom) and a member of the Malaysian Institute of Accountants.
Working experience and occupation: He was appointed as the Executive Director of the Company on 26 October 2007. He started his career with H Law & Co as an Audit Assistant. In 2003, he left H Law & Co and joined HL Thong & Associates as an Audit Senior. He joined Tropilead Sdn Bhd as Finance Manager and his responsibilities included overseeing all aspects of finance and account functions of the company.
Directorship of public companies (if any): NIL
Family relationship with any director and/or major shareholder of the listed issuer: NIL
Any conflict of interests that he/she has with the listed issuer: NIL
Details of any interest in the securities of the listed issuer or its subsidiaries: NIL
Remarks: He also ceased to be the Chairman of the Remuneration and the Option Committees of the Company with effect from 31 May 2010. Mr. Chieng Siong Kuong who is due for retirement at the Seventh Annual General Meeting in accordance with the Company's Articles of Association does not with to seek for re-election as Director of the Company.
Company Name: FAST TRACK SOLUTION HOLDINGS BERHAD (ACE Market)
Stock Name: FASTRAK
Date Announced: 01/06/2010
Announcement Detail:
Date of change: 31/05/2010
Type of change: Resignation
Designation: Executive Director
Directorate: Executive
Name: Chieng Siong Kuong
Age: 36
Nationality: Malaysian
Qualifications: He is an Associate member of the Association of Chartered Certified Accountants (United Kingdom) and a member of the Malaysian Institute of Accountants.
Working experience and occupation: He was appointed as the Executive Director of the Company on 26 October 2007. He started his career with H Law & Co as an Audit Assistant. In 2003, he left H Law & Co and joined HL Thong & Associates as an Audit Senior. He joined Tropilead Sdn Bhd as Finance Manager and his responsibilities included overseeing all aspects of finance and account functions of the company.
Directorship of public companies (if any): NIL
Family relationship with any director and/or major shareholder of the listed issuer: NIL
Any conflict of interests that he/she has with the listed issuer: NIL
Details of any interest in the securities of the listed issuer or its subsidiaries: NIL
Remarks: He also ceased to be the Chairman of the Remuneration and the Option Committees of the Company with effect from 31 May 2010. Mr. Chieng Siong Kuong who is due for retirement at the Seventh Annual General Meeting in accordance with the Company's Articles of Association does not with to seek for re-election as Director of the Company.
FONICS - General Announcement
Announcement Type: General Announcement
Company Name: FOTRONICS CORPORATION BERHAD (ACE Market)
Stock Name: FONICS
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: FOTRONICS CORPORATION BERHAD ("FOTRONICS" or "the Company")
- MONTHLY ANNOUNCEMENT ON THE STATUS OF THE COMPANY'S PLAN TO COMPLY WITH THE OBLIGATION TO REGULARISE ITS CONDITION PURSUANT TO GUILDANCE NOTE 3 OF THE LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD FOR THE ACE MARKET
Contents: Reference is made to the First Announcements made by the Company on 9 March 2010, 10 March 2010 and the monthly announcements made on 1 April 2010 and 3 May 2010 in compliance with Rule 4.1(b) of Guidance Note ("GN") 3 of the Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa Securities") for the ACE Market ("ACE LR"), the Board of Directors of FOTRONICS wishes to inform that the Company is still in the midst of evaluating various options in its endeavour to formulate a plan to regularise the Company's financial condition ("Regularisation Plan").
Premised on the First Announcements and the monthly announcements, the last day for submission of the Regularisation Plan by the Company to Bursa Securities and obtain Bursa Securities' approval to implement the said Regularisation Plan would be by 8 March 2011.
This announcement is dated 1 June 2010.
Company Name: FOTRONICS CORPORATION BERHAD (ACE Market)
Stock Name: FONICS
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: FOTRONICS CORPORATION BERHAD ("FOTRONICS" or "the Company")
- MONTHLY ANNOUNCEMENT ON THE STATUS OF THE COMPANY'S PLAN TO COMPLY WITH THE OBLIGATION TO REGULARISE ITS CONDITION PURSUANT TO GUILDANCE NOTE 3 OF THE LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD FOR THE ACE MARKET
Contents: Reference is made to the First Announcements made by the Company on 9 March 2010, 10 March 2010 and the monthly announcements made on 1 April 2010 and 3 May 2010 in compliance with Rule 4.1(b) of Guidance Note ("GN") 3 of the Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa Securities") for the ACE Market ("ACE LR"), the Board of Directors of FOTRONICS wishes to inform that the Company is still in the midst of evaluating various options in its endeavour to formulate a plan to regularise the Company's financial condition ("Regularisation Plan").
Premised on the First Announcements and the monthly announcements, the last day for submission of the Regularisation Plan by the Company to Bursa Securities and obtain Bursa Securities' approval to implement the said Regularisation Plan would be by 8 March 2011.
This announcement is dated 1 June 2010.
KANNAL - General Announcement
Announcement Type: General Announcement
Company Name: KANNALTEC BERHAD (ACE Market)
Stock Name: KANNAL
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: MONTHLY ANNOUNCEMENT ON THE STATUS OF PLAN TO REGULARISE FINACIAL CONDITION PURSUANT TO GUIDANCE NOTE 3 ("GN3") AND GUIDANCE NOTE 5 ("GN5") OF BURSA MALAYSIA SECURITIES BERHAD ACE MARKET LISTING REQUIREMENTS ("AMLR")
Contents: Further to the announcement made by the Company on 17th May 2010 in compliance with paragraph 3.0 and 4.0 of GN3 and 3.2 of GN5 of the AMLR, the Board of Directors of Kannaltec Berhad wishes to announce that the Company is still in the process of evaluating various options to meet its obligations under GN3 and GN5.
Pursuant to Rule 8.04 of the AMLR, the last day for submission of a regularisation plan by the Company to the relevant approving authorities shall fall on 17th May 2011.
This announcement is dated 1st June 2010.
Company Name: KANNALTEC BERHAD (ACE Market)
Stock Name: KANNAL
Date Announced: 01/06/2010
Announcement Detail:
Type: Announcement
Subject: MONTHLY ANNOUNCEMENT ON THE STATUS OF PLAN TO REGULARISE FINACIAL CONDITION PURSUANT TO GUIDANCE NOTE 3 ("GN3") AND GUIDANCE NOTE 5 ("GN5") OF BURSA MALAYSIA SECURITIES BERHAD ACE MARKET LISTING REQUIREMENTS ("AMLR")
Contents: Further to the announcement made by the Company on 17th May 2010 in compliance with paragraph 3.0 and 4.0 of GN3 and 3.2 of GN5 of the AMLR, the Board of Directors of Kannaltec Berhad wishes to announce that the Company is still in the process of evaluating various options to meet its obligations under GN3 and GN5.
Pursuant to Rule 8.04 of the AMLR, the last day for submission of a regularisation plan by the Company to the relevant approving authorities shall fall on 17th May 2011.
This announcement is dated 1st June 2010.
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