ALAM - Bonus Issue
Announcement Type: Entitlements (Notice of Book Closure)
Submitting Merchant Bank: OSK INVESTMENT BANK BERHAD
Company Name: ALAM MARITIM RESOURCES BERHAD
Stock Name: ALAM
Date Announced: 05/07/2010
Announcement Detail:
EX-date: 15/07/2010
Entitlement date: 19/07/2010
Entitlement time: 05:00:00 PM
Entitlement subject: Bonus Issue
Entitlement description: Bonus Issue of up to 272,478,675 new ordinary shares of RM0.25 each in AMRB ("AMRB Share(s)") ("Bonus Share(s)") on the basis of one (1) Bonus Share for every two (2) existing AMRB Shares.
Period of interest payment: to
Share transfer book & register of members will be: 19/07/2010 to 19/07/2010 closed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone no: Tricor Investor Services Sdn Bhd
(formerly known as Tenaga Koperat Sdn Bhd)
Level 17, The Gardens North Tower
Mid Valley City
Lingkaran Syed Putra
59200 Kuala Lumpur
Tel: 603-2264 3883
a. Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers: 19/07/2010
Entitlement indicator: Ratio
Ratio: 1 : 2
Remarks: In accordance with the Main Market Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa Securities"), the Bonus Shares will be listed and quoted on 20 July 2010, being one (1) market day after the Entitlement Date.
Tricor Investor Services Sdn Bhd, the Registrar of AMRB, will issue and despatch notices of allotment to all entitled shareholders of AMRB within four (4) market days after the date of the listing of and quotation for the Bonus Shares on the Main Market of Bursa Securities.
This announcement is dated 5 July 2010.
Submitting Merchant Bank: OSK INVESTMENT BANK BERHAD
Company Name: ALAM MARITIM RESOURCES BERHAD
Stock Name: ALAM
Date Announced: 05/07/2010
Announcement Detail:
EX-date: 15/07/2010
Entitlement date: 19/07/2010
Entitlement time: 05:00:00 PM
Entitlement subject: Bonus Issue
Entitlement description: Bonus Issue of up to 272,478,675 new ordinary shares of RM0.25 each in AMRB ("AMRB Share(s)") ("Bonus Share(s)") on the basis of one (1) Bonus Share for every two (2) existing AMRB Shares.
Period of interest payment: to
Share transfer book & register of members will be: 19/07/2010 to 19/07/2010 closed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone no: Tricor Investor Services Sdn Bhd
(formerly known as Tenaga Koperat Sdn Bhd)
Level 17, The Gardens North Tower
Mid Valley City
Lingkaran Syed Putra
59200 Kuala Lumpur
Tel: 603-2264 3883
a. Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers: 19/07/2010
Entitlement indicator: Ratio
Ratio: 1 : 2
Remarks: In accordance with the Main Market Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa Securities"), the Bonus Shares will be listed and quoted on 20 July 2010, being one (1) market day after the Entitlement Date.
Tricor Investor Services Sdn Bhd, the Registrar of AMRB, will issue and despatch notices of allotment to all entitled shareholders of AMRB within four (4) market days after the date of the listing of and quotation for the Bonus Shares on the Main Market of Bursa Securities.
This announcement is dated 5 July 2010.
KENCANA - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: AMINVESTMENT BANK BERHAD
Company Name: KENCANA PETROLEUM BERHAD
Stock Name: KENCANA
Date Announced: 05/07/2010
Announcement Detail:
Type: Announcement
Subject: KENCANA PETROLEUM BERHAD ("KENCANA PETROLEUM" OR "COMPANY")
PROPOSED ACQUISITION BY KENCANA PETROLEUM VENTURES SDN BHD ("KPV"), A WHOLLY OWNED SUBSIDIARY OF THE COMPANY, OF ALL EQUITY INTEREST IN MERMAID KENCANA RIG 1 PTE LTD ("MKR1"), KENCANA MERMAID DRILLING SDN BHD ("KMD") AND MERMAID KENCANA RIGS (LABUAN) PTE LTD ("MKR LABUAN") HELD BY MERMAID DRILLING (SINGAPORE) PTE LTD (THE "VENDOR")
Contents: This announcement is dated 5 July 2010.
We refer to the announcement dated 21 June 2010 and 24 June 2010 in respect of the Proposed Acquisitions ("Announcement"). Unless otherwise stated, defined terms used in this announcement shall carry the same meanings as defined in the Announcement.
On behalf of the Board of Directors of Kencana Petroleum, AmInvestment Bank Berhad (a member of the AmInvestment Bank Group) ("AmInvestment Bank") is pleased to announce that the approval from Bank Negara Malaysia ("BNM") has been obtained vide its letter dated 2 July 2010 (which was received on 5 July 2010) ("BNM Approval Letter") for the provision of foreign currency loan by KPV to MKR1 amounting to USD15.95 million which arose as a result of KPV being required pursuant to the terms and conditions of the MKR1 SPA to pay the USD15.95 million to the Bank as full settlement of the amount owing under the loan facility and guarantee facility provided by the Bank to MKR1 for the construction of Rig 1 ("Settlement of Facilities").
The Settlement of Facilities is required under the terms of the Proposed Acquisitions in order for the Bank to discharge the mortgage over the MKR1 Sale Shares. This will allow the MKR1 Sale Shares to be transferred by the Vendor to KPV free of encumbrances.
The approval by BNM above is subject to, inter-alia, the transfer of USD15.95 million being made within twelve (12) months from the date of BNM's Approval Letter ("Initial Period"). KPV would be required to seek a new approval from BNM for the transfer of the USD15.95 million in the event such transfer is made after the Initial Period.
Submitting Merchant Bank: AMINVESTMENT BANK BERHAD
Company Name: KENCANA PETROLEUM BERHAD
Stock Name: KENCANA
Date Announced: 05/07/2010
Announcement Detail:
Type: Announcement
Subject: KENCANA PETROLEUM BERHAD ("KENCANA PETROLEUM" OR "COMPANY")
PROPOSED ACQUISITION BY KENCANA PETROLEUM VENTURES SDN BHD ("KPV"), A WHOLLY OWNED SUBSIDIARY OF THE COMPANY, OF ALL EQUITY INTEREST IN MERMAID KENCANA RIG 1 PTE LTD ("MKR1"), KENCANA MERMAID DRILLING SDN BHD ("KMD") AND MERMAID KENCANA RIGS (LABUAN) PTE LTD ("MKR LABUAN") HELD BY MERMAID DRILLING (SINGAPORE) PTE LTD (THE "VENDOR")
Contents: This announcement is dated 5 July 2010.
We refer to the announcement dated 21 June 2010 and 24 June 2010 in respect of the Proposed Acquisitions ("Announcement"). Unless otherwise stated, defined terms used in this announcement shall carry the same meanings as defined in the Announcement.
On behalf of the Board of Directors of Kencana Petroleum, AmInvestment Bank Berhad (a member of the AmInvestment Bank Group) ("AmInvestment Bank") is pleased to announce that the approval from Bank Negara Malaysia ("BNM") has been obtained vide its letter dated 2 July 2010 (which was received on 5 July 2010) ("BNM Approval Letter") for the provision of foreign currency loan by KPV to MKR1 amounting to USD15.95 million which arose as a result of KPV being required pursuant to the terms and conditions of the MKR1 SPA to pay the USD15.95 million to the Bank as full settlement of the amount owing under the loan facility and guarantee facility provided by the Bank to MKR1 for the construction of Rig 1 ("Settlement of Facilities").
The Settlement of Facilities is required under the terms of the Proposed Acquisitions in order for the Bank to discharge the mortgage over the MKR1 Sale Shares. This will allow the MKR1 Sale Shares to be transferred by the Vendor to KPV free of encumbrances.
The approval by BNM above is subject to, inter-alia, the transfer of USD15.95 million being made within twelve (12) months from the date of BNM's Approval Letter ("Initial Period"). KPV would be required to seek a new approval from BNM for the transfer of the USD15.95 million in the event such transfer is made after the Initial Period.
KENCANA - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: AMINVESTMENT BANK BERHAD
Company Name: KENCANA PETROLEUM BERHAD
Stock Name: KENCANA
Date Announced: 05/07/2010
Announcement Detail:
Type: Announcement
Subject: KENCANA PETROLEUM BERHAD ("KENCANA PETROLEUM" OR "COMPANY")
PRIVATE PLACEMENT OF NEW ORDINARY SHARES OF RM0.10 EACH ("SHARES") IN KENCANA PETROLEUM OF UP TO 10% OF THE ISSUED AND PAID-UP CAPITAL OF KENCANA PETROLEUM ("PRIVATE PLACEMENT")
Contents: This announcement is dated 5 July 2010.
We refer to the announcements dated 22 June 2009, 3 July 2009, 10 July 2009, 4 February 2010 and 9 February 2010 in respect of the Private Placement ("Announcements"). Unless otherwise stated, defined terms used in this announcement shall carry the same meanings as defined in the Announcements.
On behalf of the Board of Directors of Kencana Petroleum, AmInvestment Bank Berhad ("Board"), a member of the AmInvestment Bank Group, ("AmInvestment Bank") wishes to announce that the approval from Securities Commission ("SC") for Kencana Petroleum to implement the Private Placement by 2 July 2010 has lapsed and no further extension of time has been sought by Kencana Petroleum from the SC thereon.
As at to-date, Kencana Petroleum has not placed out any Shares under the Private Placement.
Submitting Merchant Bank: AMINVESTMENT BANK BERHAD
Company Name: KENCANA PETROLEUM BERHAD
Stock Name: KENCANA
Date Announced: 05/07/2010
Announcement Detail:
Type: Announcement
Subject: KENCANA PETROLEUM BERHAD ("KENCANA PETROLEUM" OR "COMPANY")
PRIVATE PLACEMENT OF NEW ORDINARY SHARES OF RM0.10 EACH ("SHARES") IN KENCANA PETROLEUM OF UP TO 10% OF THE ISSUED AND PAID-UP CAPITAL OF KENCANA PETROLEUM ("PRIVATE PLACEMENT")
Contents: This announcement is dated 5 July 2010.
We refer to the announcements dated 22 June 2009, 3 July 2009, 10 July 2009, 4 February 2010 and 9 February 2010 in respect of the Private Placement ("Announcements"). Unless otherwise stated, defined terms used in this announcement shall carry the same meanings as defined in the Announcements.
On behalf of the Board of Directors of Kencana Petroleum, AmInvestment Bank Berhad ("Board"), a member of the AmInvestment Bank Group, ("AmInvestment Bank") wishes to announce that the approval from Securities Commission ("SC") for Kencana Petroleum to implement the Private Placement by 2 July 2010 has lapsed and no further extension of time has been sought by Kencana Petroleum from the SC thereon.
As at to-date, Kencana Petroleum has not placed out any Shares under the Private Placement.
DELEUM - DELEUM BERHAD ("The Company") Incorporation of a new subsidiary - SLEDGEHAMMER MALAYSIA SDN BHD
Announcement Type: General Announcement
Company Name: DELEUM BERHAD
Stock Name: DELEUM
Date Announced: 05/07/2010
Announcement Detail:
Type: Announcement
Subject: DELEUM BERHAD ("The Company")
Incorporation of a new subsidiary - SLEDGEHAMMER MALAYSIA SDN BHD
Contents: The Company wishes to announce that the Company had on 2 July 2010 incorporated a wholly-owned subsidiary under the name of SLEDGEHAMMER MALAYSIA SDN. BHD. ("SMSB") with a paid-up capital of RM100.00. SMSB is currently dormant and is intended for venturing into the oilfield business.
This announcement is dated 5 July 2010.
Company Name: DELEUM BERHAD
Stock Name: DELEUM
Date Announced: 05/07/2010
Announcement Detail:
Type: Announcement
Subject: DELEUM BERHAD ("The Company")
Incorporation of a new subsidiary - SLEDGEHAMMER MALAYSIA SDN BHD
Contents: The Company wishes to announce that the Company had on 2 July 2010 incorporated a wholly-owned subsidiary under the name of SLEDGEHAMMER MALAYSIA SDN. BHD. ("SMSB") with a paid-up capital of RM100.00. SMSB is currently dormant and is intended for venturing into the oilfield business.
This announcement is dated 5 July 2010.
PENERGY - Change of name of subsidiary company
Announcement Type: General Announcement
Company Name: PETRA ENERGY BERHAD
Stock Name: PENERGY
Date Announced: 05/07/2010
Announcement Detail:
Type: Announcement
Subject: Change of name of subsidiary company
Contents: Please see announcement details below.
Company Name: PETRA ENERGY BERHAD
Stock Name: PENERGY
Date Announced: 05/07/2010
Announcement Detail:
Type: Announcement
Subject: Change of name of subsidiary company
Contents: Please see announcement details below.
TASCO - PUBLIC REPRIMAND ON TASCO BERHAD
Announcement Type: Listing Circular
Company Name: TASCO BERHAD
Stock Name: TASCO
Date Announced: 05/07/2010
Announcement Detail:
Subject: PUBLIC REPRIMAND ON TASCO BERHAD
Contents: Bursa Malaysia Securities Berhad ("Bursa Securities") hereby publicly reprimands TASCO BERHAD ("TASCO" or "the Company") for breach of paragraph 9.16(1)(a) of the Listing Requirements of Bursa Malaysia Securities Berhad ("LR").
TASCO is also required to:
(a) carry out a limited review on its quarterly report submissions. The limited review must be performed by TASCO's external auditors for four quarterly reports commencing no later from the Company's quarterly report for the financial period ended 30 September 2010; and (b) ensure all its directors and the relevant personnel of the Company attend a training programme in relation to compliance with the LR particularly pertaining to financial statements.
Pursuant to paragraph 9.16(1)(a) of the LR, a listed issuer must ensure that each announcement is factual, clear, unambiguous, accurate, succinct and contains sufficient information to enable investors to make informed investment decisions.
The Company had breached paragraph 9.16(1)(a) of the LR in respect of the Company's announcement dated 11 February 2009 on its fourth quarterly report for the financial period ended 31 December 2008 ("QR 4/2008") which failed to take into account the adjustments as stated in the Company's announcement dated 30 April 2009.
The Company had reported an unaudited profit after taxation and minority interest of RM14,908,000 in its QR 4/2008 ("Unaudited Results") as compared to an audited profit after taxation and minority interest of RM18,357,766 ("Audited Results") in its annual audited accounts for the financial year ended 31 December 2008. The difference of RM3,449,766 between the Unaudited Results and the Audited Results for the financial year ended 31 December 2008 represents a deviation of approximately 23.14% ("Deviation").
The Deviation is mainly contributed by adjustments in respect of the under recognition of discount on acquisition of subsidiaries and overprovision of taxation.
The public reprimand was imposed pursuant to paragraph 16.17(1) of the LR after taking into consideration all facts and circumstances of the matter and upon completion of due process.
Bursa Securities views the contravention seriously and reminds TASCO and its Board of Directors on their responsibility to maintain appropriate standards of corporate responsibility and accountability in order to achieve greater disclosure and transparency to the shareholders and the investing public. In this respect, TASCO and its directors are required to take all reasonable steps including putting in place or enhancing the Company's procedures and processes and review the effective implementation of the same to ensure compliance with the LR at all times.
Whilst Bursa Securities has not made a finding that any of the directors of TASCO caused or permitted the aforesaid breach by the Company, Bursa Securities nevertheless wishes to highlight that it is the responsibility of directors of listed companies to maintain appropriate standards of responsibility and accountability within the company and amongst its officers and employees including, amongst others, an awareness of the importance of compliance with the LR. The Board of Directors of the Company at the material time are as follows:-
Tan Sri Asmat bin Kamaludin Lee Check Poh Tan Hock Huat Ahmad bin Ismail Kimio Maki Raymond Cha Kar Siang Kwong Hoi Meng Raippan s/o Yagappan @Raiappan Peter Hidenobu Owaki
Company Name: TASCO BERHAD
Stock Name: TASCO
Date Announced: 05/07/2010
Announcement Detail:
Subject: PUBLIC REPRIMAND ON TASCO BERHAD
Contents: Bursa Malaysia Securities Berhad ("Bursa Securities") hereby publicly reprimands TASCO BERHAD ("TASCO" or "the Company") for breach of paragraph 9.16(1)(a) of the Listing Requirements of Bursa Malaysia Securities Berhad ("LR").
TASCO is also required to:
(a) carry out a limited review on its quarterly report submissions. The limited review must be performed by TASCO's external auditors for four quarterly reports commencing no later from the Company's quarterly report for the financial period ended 30 September 2010; and (b) ensure all its directors and the relevant personnel of the Company attend a training programme in relation to compliance with the LR particularly pertaining to financial statements.
Pursuant to paragraph 9.16(1)(a) of the LR, a listed issuer must ensure that each announcement is factual, clear, unambiguous, accurate, succinct and contains sufficient information to enable investors to make informed investment decisions.
The Company had breached paragraph 9.16(1)(a) of the LR in respect of the Company's announcement dated 11 February 2009 on its fourth quarterly report for the financial period ended 31 December 2008 ("QR 4/2008") which failed to take into account the adjustments as stated in the Company's announcement dated 30 April 2009.
The Company had reported an unaudited profit after taxation and minority interest of RM14,908,000 in its QR 4/2008 ("Unaudited Results") as compared to an audited profit after taxation and minority interest of RM18,357,766 ("Audited Results") in its annual audited accounts for the financial year ended 31 December 2008. The difference of RM3,449,766 between the Unaudited Results and the Audited Results for the financial year ended 31 December 2008 represents a deviation of approximately 23.14% ("Deviation").
The Deviation is mainly contributed by adjustments in respect of the under recognition of discount on acquisition of subsidiaries and overprovision of taxation.
The public reprimand was imposed pursuant to paragraph 16.17(1) of the LR after taking into consideration all facts and circumstances of the matter and upon completion of due process.
Bursa Securities views the contravention seriously and reminds TASCO and its Board of Directors on their responsibility to maintain appropriate standards of corporate responsibility and accountability in order to achieve greater disclosure and transparency to the shareholders and the investing public. In this respect, TASCO and its directors are required to take all reasonable steps including putting in place or enhancing the Company's procedures and processes and review the effective implementation of the same to ensure compliance with the LR at all times.
Whilst Bursa Securities has not made a finding that any of the directors of TASCO caused or permitted the aforesaid breach by the Company, Bursa Securities nevertheless wishes to highlight that it is the responsibility of directors of listed companies to maintain appropriate standards of responsibility and accountability within the company and amongst its officers and employees including, amongst others, an awareness of the importance of compliance with the LR. The Board of Directors of the Company at the material time are as follows:-
Tan Sri Asmat bin Kamaludin Lee Check Poh Tan Hock Huat Ahmad bin Ismail Kimio Maki Raymond Cha Kar Siang Kwong Hoi Meng Raippan s/o Yagappan @Raiappan Peter Hidenobu Owaki
PELIKAN - Notice of Shares Buy Back - Immediate Announcement
Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Company Name: PELIKAN INTERNATIONAL CORPORATION BERHAD
Stock Name: PELIKAN
Date Announced: 05/07/2010
Announcement Detail:
Date of buy back: 05/07/2010
Description of shares purchased: Ordinary Shares of RM1.00 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 3,000
Minimum price paid for each share purchased ($$): 1.110
Maximum price paid for each share purchased ($$): 1.110
Total consideration paid ($$): 3,330.00
Number of shares purchased retained in treasury (units): 3,000
Number of shares purchased which are proposed to be cancelled (units): 0
Cumulative net outstanding treasury shares as at to-date (units): 5,525,700
Adjusted issued capital after cancellation (no. of shares) (units): 0
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 1.08
Company Name: PELIKAN INTERNATIONAL CORPORATION BERHAD
Stock Name: PELIKAN
Date Announced: 05/07/2010
Announcement Detail:
Date of buy back: 05/07/2010
Description of shares purchased: Ordinary Shares of RM1.00 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 3,000
Minimum price paid for each share purchased ($$): 1.110
Maximum price paid for each share purchased ($$): 1.110
Total consideration paid ($$): 3,330.00
Number of shares purchased retained in treasury (units): 3,000
Number of shares purchased which are proposed to be cancelled (units): 0
Cumulative net outstanding treasury shares as at to-date (units): 5,525,700
Adjusted issued capital after cancellation (no. of shares) (units): 0
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 1.08
GAMUDA - Dealing by Director in the Securities of the Company During Open Period (Amended Announcement)
Announcement Type: General Announcement
Company Name: GAMUDA BERHAD
Stock Name: GAMUDA
Date Announced: 05/07/2010
Announcement Detail:
Type: Announcement
Subject: Dealing by Director in the Securities of the Company During Open Period
Contents: The following Director has given notice of her dealing in the securities of the Company during the open period as follows:-
Company Name: GAMUDA BERHAD
Stock Name: GAMUDA
Date Announced: 05/07/2010
Announcement Detail:
Type: Announcement
Subject: Dealing by Director in the Securities of the Company During Open Period
Contents: The following Director has given notice of her dealing in the securities of the Company during the open period as follows:-
GAMUDA - Additional Listing Announcement
Announcement Type: Additional Listing Announcement (ALA)
Company Name: GAMUDA BERHAD
Stock Name: GAMUDA
Date Announced: 05/07/2010
Announcement Detail:
Whether the corporate proposal involves the issuance of new type and new class of securities?: No
Types of corporate proposal: Others
Details of corporate proposal: Conversion of Warrants (GAMUDA-WD)
No. of shares issued under this corporate proposal: 200
Issue price per share ($$): MYR 2.660
Par Value ($$): MYR 1.000
Units: 2,019,181,420
Currency: MYR 2,019,181,420.000
Listing Date: 06/07/2010
Company Name: GAMUDA BERHAD
Stock Name: GAMUDA
Date Announced: 05/07/2010
Announcement Detail:
Whether the corporate proposal involves the issuance of new type and new class of securities?: No
Types of corporate proposal: Others
Details of corporate proposal: Conversion of Warrants (GAMUDA-WD)
No. of shares issued under this corporate proposal: 200
Issue price per share ($$): MYR 2.660
Par Value ($$): MYR 1.000
Units: 2,019,181,420
Currency: MYR 2,019,181,420.000
Listing Date: 06/07/2010
PCCS - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: OSK INVESTMENT BANK BERHAD
Company Name: PCCS GROUP BERHAD
Stock Name: PCCS
Date Announced: 05/07/2010
Announcement Detail:
Type: Announcement
Subject: PCCS GROUP BERHAD ("PCCS" OR THE "COMPANY")
DISPOSAL BY PCCS OF 10,000 ORDINARY SHARES OF HONG KONG DOLLAR 1.00 EACH IN ROOTS INVESTMENT HOLDINGS PRIVATE LIMITED ("RIH"), REPRESENTING THE ENTIRE EQUITY INTEREST IN RIH TO GRAHAM PACKAGING COMPANY LP FOR AN INDICATIVE DISPOSAL CONSIDERATION OF RENMINBI 166.0 MILLION (EQUIVALENT TO APPROXIMATELY RM81.34 MILLION) TO BE WHOLLY SATISFIED IN CASH ("DISPOSAL")
Contents: We refer to the earlier announcements made by OSK Investment Bank Berhad ("OSK"), on behalf of the Board of PCCS ("Board") in relation to the Disposal.
On behalf of the Board, OSK wishes to inform that the Company ("Seller") and Graham Packaging Company LP ("Buyer") (the Seller and the Buyer are collectively known as the "Parties") had on 1 July 2010 entered into an amendment to the SSA ("Amendment") to vary certain terms of the Disposal ("Variation").
Pursuant to the Variation, China Roots Packaging Pte Ltd ("China Subsidiary"), Guangzhou Hongwu Labels and Stickers Co. Ltd. ("Label Printing Business Buyer"), an entity established or to be established by Chan Choo Keng under the laws of the PRC with an anticipated registered capital of RMB1,500,000, which is equivalent to approximately RM716,850, and Chan Choo Keng had on 1 July 2010 entered into a transfer agreement ("Label Printing Business Transfer Agreement") to facilitate the sale and transfer of the Label Printing Business ("Transfer").
Further details on the Variation and the Transfer are set out in the attachment below.
This announcement is dated 5 July 2010.
Attachments: PCCS Announcement - Variation and Transfer.pdf
Submitting Merchant Bank: OSK INVESTMENT BANK BERHAD
Company Name: PCCS GROUP BERHAD
Stock Name: PCCS
Date Announced: 05/07/2010
Announcement Detail:
Type: Announcement
Subject: PCCS GROUP BERHAD ("PCCS" OR THE "COMPANY")
DISPOSAL BY PCCS OF 10,000 ORDINARY SHARES OF HONG KONG DOLLAR 1.00 EACH IN ROOTS INVESTMENT HOLDINGS PRIVATE LIMITED ("RIH"), REPRESENTING THE ENTIRE EQUITY INTEREST IN RIH TO GRAHAM PACKAGING COMPANY LP FOR AN INDICATIVE DISPOSAL CONSIDERATION OF RENMINBI 166.0 MILLION (EQUIVALENT TO APPROXIMATELY RM81.34 MILLION) TO BE WHOLLY SATISFIED IN CASH ("DISPOSAL")
Contents: We refer to the earlier announcements made by OSK Investment Bank Berhad ("OSK"), on behalf of the Board of PCCS ("Board") in relation to the Disposal.
On behalf of the Board, OSK wishes to inform that the Company ("Seller") and Graham Packaging Company LP ("Buyer") (the Seller and the Buyer are collectively known as the "Parties") had on 1 July 2010 entered into an amendment to the SSA ("Amendment") to vary certain terms of the Disposal ("Variation").
Pursuant to the Variation, China Roots Packaging Pte Ltd ("China Subsidiary"), Guangzhou Hongwu Labels and Stickers Co. Ltd. ("Label Printing Business Buyer"), an entity established or to be established by Chan Choo Keng under the laws of the PRC with an anticipated registered capital of RMB1,500,000, which is equivalent to approximately RM716,850, and Chan Choo Keng had on 1 July 2010 entered into a transfer agreement ("Label Printing Business Transfer Agreement") to facilitate the sale and transfer of the Label Printing Business ("Transfer").
Further details on the Variation and the Transfer are set out in the attachment below.
This announcement is dated 5 July 2010.
Attachments: PCCS Announcement - Variation and Transfer.pdf
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