JMR - Changes in Sub. S-hldr's Int. (29B) - LEADING BUILDERS SDN. BHD.
| Company Name | JMR CONGLOMERATION BERHAD |
| Stock Name | JMR |
| Date Announced | 8 Apr 2014 |
| Category | Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965 |
| Reference No | CC-140408-3E2E5 |
Particulars of substantial Securities Holder
| Name | LEADING BUILDERS SDN. BHD. |
| Address | 51-13-A, MENARA BHL BANK JALAN SULTAN AHMAD SHAH 10050 PENANG |
| NRIC/Passport No/Company No. | 347400-X |
| Nationality/Country of incorporation | MALAYSIA |
| Descriptions (Class & nominal value) | ORDINARY @ RM1.00 |
| Name & address of registered holder | LEADING BUILDERS SDN. BHD. 51-13-A, MENARA BHL BANK JALAN SULTAN AHMAD SHAH 10050 PENANG |
Details of changes
Currency: Malaysian Ringgit (MYR)
| Type of transaction | Date of change | No of securities | Price Transacted (RM) |
| Disposed | 04/04/2014 | 10,000 |
PERMAJU - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS):RELATED PARTY TRANSACTIONS
| Company Name | PERMAJU INDUSTRIES BERHAD |
| Stock Name | PERMAJU |
| Date Announced | 8 Apr 2014 |
| Category | General Announcement |
| Reference No | CP-140331-35512 |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description | Permaju Industries Berhad (“Permaju”) Related Party Transaction in respect of acquisition of property by the Managing Director and Major Shareholder of Permaju from Hardie Development Sdn. Bhd. (“Hardie”), a 70% owned subsidiary of Permaju |
Please refer to the attachment. | |
UCHITEC - OTHERS Uchi Technologies Berhad ("UTB") Proposed Renewal of Share Buy-Back Authority ("the Proposed Renewal of Share Buy-Back Authority")
| Company Name | UCHI TECHNOLOGIES BERHAD |
| Stock Name | UCHITEC |
| Date Announced | 8 Apr 2014 |
| Category | General Announcement |
| Reference No | CP-140408-42333 |
| Type | Announcement |
| Subject | OTHERS |
| Description | Uchi Technologies Berhad ("UTB") Proposed Renewal of Share Buy-Back Authority ("the Proposed Renewal of Share Buy-Back Authority") |
On behalf of the Board of Directors of UTB, we wish to announce that the Directors propose to seek shareholders' approval by way of ordinary resolution on the Proposed Renewal of Share Buy-Back Authority at the Sixteenth Annual General Meeting of UTB to be convened on 23 May 2014. | |
SPRITZR - DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS):INTENTION TO DEAL DURING CLOSED PERIOD
| Company Name | SPRITZER BHD |
| Stock Name | SPRITZR |
| Date Announced | 8 Apr 2014 |
| Category | General Announcement |
| Reference No | SS-140408-42308 |
| Type | Announcement | ||||||||||||||||||||
| Subject | DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) INTENTION TO DEAL DURING CLOSED PERIOD | ||||||||||||||||||||
| Description | SPRITZER BHD. ("SPRITZER" or Company") - NOTICE OF INTENTION TO DEAL IN COMPANY'S SECURITIES DURING CLOSED PERIOD The Company wishes to announce that pursuant to Paragraph 14.08 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the following Director and principal officer of Spritzer have given notice informing the Company of their intention to deal in Spritzer's securities during the closed period pending the announcement by Spritzer of its quarterly results for the financial quarter ended 28 February 2014. | ||||||||||||||||||||
This announcement is dated 8 April 2014. | |||||||||||||||||||||
SUPERMX - Changes in Sub. S-hldr's Int. (29B) - Employees Provident Fund Board
| Company Name | SUPERMAX CORPORATION BERHAD |
| Stock Name | SUPERMX |
| Date Announced | 8 Apr 2014 |
| Category | Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965 |
| Reference No | CK-140408-41088 |
Particulars of substantial Securities Holder
| Name | Employees Provident Fund Board |
| Address | Tingkat 19, Bangunan KWSP, Jalan Raja Laut, 50350 Kuala Lumpur |
| NRIC/Passport No/Company No. | EPF ACT 1991 |
| Nationality/Country of incorporation | Malaysia |
| Descriptions (Class & nominal value) | Ordinary Shares of RM0.50 each |
| Name & address of registered holder | Citigroup Nominees (Tempatan) Sdn Bhd of Level 42, Menara Citibank, 165 Jalan Ampang, 50450 Kuala Lumpur |
Details of changes
Currency: Malaysian Ringgit (MYR)
| Type of transaction | Date of change | No of securities | Price Transacted (RM) |
| Acquired | 03/04/2014 | 378,500 |
| Remarks : |
| Direct Interest: (1) Employees Provident Fund Board (37,042,000) (2) Employees Provident Fund Board (RHB INV) (2,000,000) (3) Employees Provident Fund Board (CIMB PRI) (7,884,500) Supermax Corporation Berhad received the Form 29B dated 4 April 2014 from Citigroup Nominees (Tempatan) Sdn Bhd on behalf of Employees Provident Fund Board on 8 April 2014. |
ASIAFLE - Interim Dividend
| Company Name | ASIA FILE CORPORATION BHD |
| Stock Name | ASIAFLE |
| Date Announced | 8 Apr 2014 |
| Category | Entitlements (Notice of Book Closure) |
| Reference No | CC-140402-D14A0 |
HOVID - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS):NON RELATED PARTY TRANSACTIONS
| Company Name | HOVID BERHAD |
| Stock Name | HOVID |
| Date Announced | 8 Apr 2014 |
| Category | General Announcement |
| Reference No | CL-140408-47631 |
| Type | Announcement | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Description | HOVID BERHAD ("HOVID" OR "THE COMPANY") DISPOSAL OF 51% EQUITY INTEREST IN BIODEAL PHARMACEUTICALS PRIVATE LIMITED | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1. INTRODUCTION The Company wishes to announce that Hovid together with the other existing shareholders (collectively referred to as “the Sellers”) of Biodeal Pharmaceuticals Private Limited (“BPPL”) have on 8 April 2014 entered into a Share Purchase Agreement (“the Agreement”) with Mr Anurag Kumar, Nri and Mr Subodh Prasad Singh (“the Purchasers”) and BPPL for the sale of the entire share capital of 25,000,000 Equity Shares of Indian Rupees (“Rs.”) 10 each and the control and management of BPPL to the Purchasers, at a consideration of Rs.300,000,000 to be paid by the Purchasers to the Sellers in the following form and subject to the fulfillment of the Conditions Precedent and other terms and conditions set out in the Agreement:-
i) Rs.200,000,000 towards the entire paid up Equity Share Capital of BPPL held by the Sellers (“Purchase Consideration Equity Component”); and ii) Rs.100,000,000 towards the unsecured loans granted to BPPL by the Sellers cum Unsecured Lenders (“Purchase Consideration Loan Component”). The Purchase Consideration Equity Component shall be subject to adjustments arising from the change in net current assets minus current liabilities on the Closing Date, a date not later than 3 months from the date of the Agreement unless mutually agreed to be extended, and the missing assets amounting to Rs.974,640 (“Adjusted Purchase Consideration Equity Component”). Upon the completion of the abovementioned disposal, BPPL will cease to be a subsidiary company of Hovid. 2. DETAILS OF THE DISPOSAL 2.1 Information on BPPL
BPPL, a 51%-owned subsidiary of Hovid, was incorporated in India under the Companies Act 1956 on 30 December 2005. It has an authorized and issued and paid up share capital of Rs.250,000,000 divided into 25,000,000 Equity Shares of Rs.10 each. The principal activity of BPPL is manufacturing of pharmaceutical and consumer products.
Financial information of BPPL
The table below sets out a summary of BPPL’s financial statements which were incorporated in the financial statements of Hovid Group for the years ended 30 June 2012 and 30 June 2013:-
2.2 Basis and Justification for the Sale Consideration
The consideration for the disposal of 12,750,000 shares of Rs.10 each equivalent to 51% equity interest held by the Company in BPPL (“the Disposal”) shall be Rs.102,000,000 (“the Sale Consideration”) equivalent to RM5,559,000 at an exchange rate of Rs.1 to RM0.0545, subject to the proportionate adjustment arising from the change in net current assets minus current liabilities on the Closing Date as compared to the cut-off date as at 31 August 2013 and the missing assets amounting to Rs.974,640, was arrived at on a willing-buyer-willing-seller basis. The above consideration is equivalent to Rs.8.00 per Equity Share, while the net tangible assets (“NTA”) of BPPL as at 28 February 2014, was Rs.162,859,738. or Rs.6.51 per Equity Share. The net current assets minus current liabilities position as at the cut-off date, 31 August 2013 and the latest management account date, 28 February 2014, were as follows:-
Based on the latest management account, the adjustment to the consideration is equivalent to an increase of Rs.0.94 per share. 2.3 Salient Terms of the Agreement The salient terms of the Agreement affecting Hovid are as follows:-
On the Closing Date, upon fulfilment of all the Conditions Precedent stipulated in the Agreement, the Purchasers will first acquire 51% shareholding in BPPL held by Hovid by making 51% payment of Adjusted Purchase Consideration Equity Component. The 51% shares held by Hovid will be transferred simultaneously into the name of the Purchasers immediately upon such payment. Thereafter, the terms of the Agreement relating to Hovid would have been completed. 2.4 Expected Gain to Hovid Group
Based on the latest management account of BPPL, as at 28 February 2014, Hovid Group is expected to record a consolidated gain of approximately RM968,000 from the Disposal, based on the Purchase Consideration of Rs.102,000,000. 2.5 Utilisation of the Sale Consideration
The Sale Consideration is intended to be utilized by Hovid for working capital requirement within 3 months from the Completion Date. 2.6 Liabilities to be Assumed There are no liabilities, including contingent liabilities and guarantees, to be assumed by the Purchasers pursuant to the Disposal save for those incurred in the ordinary course of business of BPPL. 2.7 Original Date and Cost of Investment
The original cost of investment in BPPL was Rs.127,500,000 equivalent to RM9,677,407, which was made on 20 February 2010 for 11,880,000 Equity Shares and 31 May 2010 for 870,000 Equity Shares. 3. RATIONALE The Disposal is to streamline the Group’s operations to concentrate on core profitable operations while divesting those that do not contribute significantly to the Group’s operations and financial results. 4. FINANCIAL EFFECTS 4.1 Share capital and shareholdings of substantial shareholders The Disposal will not have any effect on the issued and paid-up share capital and the shareholdings of the substantial shareholders of Hovid. 4.2 Earnings, net assets and gearing Save for the one-off expected gain from the Disposal of approximately RM968,000 as set out in section 2.4 above, the Disposal will not have any material effect on the earnings and net assets of Hovid Group for the year ending 30 June 2014. However, the gearing of Hovid Group is expected to improve as BPPL’s liabilities include unsecured loans of Rs.112,411,939 (equivalent to RM5,789,215 as at 30 June 2013 consolidated into the Hovid Bhd financial year ended 30 June 2013 results), which will no longer be included in the Hovid Group. 5. HIGHEST PERCENTAGE RATIO The highest percentage ratio applicable to the Disposal, pursuant to Paragraph 10.02(g) of the Listing Requirements, is 8.5% based on the latest audited financial statements of Hovid for the year ended 30 June 2013. 6. APPROVAL The Disposal is not subject to approval of Hovid’s shareholders and any relevant government authorities. 7. EXPECTED TIME FRAME FOR COMPLETION Barring any unforeseen circumstances, the Disposal is expected to be completed on or before 8 July 2014 (within 3 months from Agreement date) provided always that all the Conditions Precedent are fulfilled unless otherwise extended by mutual agreement. 8. INTEREST OF DIRECTORS, MAJOR SHAREHOLDERS AND PERSONS CONNECTED TO THEM None of the Directors or major shareholders of Hovid Group, or persons connected to them have any interest, direct or indirect, in the Disposal. 9. DIRECTORS’ STATEMENT The Board, having considered all aspects of the Disposal, is of the opinion that the Sale Consideration is fair and reasonable, and the Disposal is in the best interests of Hovid. 10. DOCUMENTS FOR INSPECTION The Agreement is available for inspection at the registered office Hovid at 121 Jalan Tunku Abdul Rahman (formerly known as Jalan Kuala Kangsar), 30010 Ipoh, Perak during normal office hours from Monday to Friday (except public holiday) for a period of three (3) months from the date of announcement. (This announcement is dated 8 April 2014.)
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FAVCO - FAVCO-EMPLOYEES' SHARE OPTION SCHEME ("SCHEME")
| Company Name | FAVELLE FAVCO BERHAD |
| Stock Name | FAVCO |
| Date Announced | 8 Apr 2014 |
| Category | Listing Circular |
| Reference No | ZA-140408-56593 |
LISTING'S CIRCULAR NO. L/Q : 70273 OF 2014
Kindly be advised that the abovenamed Company's additional 52,000 new ordinary shares of RM0.50 each issued pursuant to the aforesaid Scheme will be granted listing and quotation with effect from 9.00 a.m., Thursday, 10 April 2014.
GLOBALC - MATERIAL LITIGATION
| Company Name | GLOBAL CARRIERS BERHAD |
| Stock Name | GLOBALC |
| Date Announced | 8 Apr 2014 |
| Category | General Announcement |
| Reference No | CC-140408-43574 |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | GLOBAL CARRIERS BHD (“GCB” OR “THE COMPANY”) WRIT OF SUMMONS AND STATEMENT OF CLAIM - KUALA LUMPUR HIGH COURT SUIT NO. 22NCC–103-03/2014 (“THE SUIT”) |
Further to the Company's announcement made on 4 April 2014, the Board of Directors of GCB wishes to announce that there is no financial impact on the writ of summon and statement of claim as it is a loan stock for an old restructured debt. This announcement is dated 8 April 2014. | |
WZSATU - DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS):DEALINGS OUTSIDE CLOSED PERIOD
| Company Name | WZ SATU BERHAD |
| Stock Name | WZSATU |
| Date Announced | 8 Apr 2014 |
| Category | General Announcement |
| Reference No | CS-140408-51346 |
| Type | Announcement | |||||||||||||||||||||
| Subject | DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) DEALINGS OUTSIDE CLOSED PERIOD | |||||||||||||||||||||
| Description | Pursuant to Chapter 14.09(a) of Bursa Malaysia's Main Market Listing Requirements on Dealing in Securities, the following Director of WZ Satu Berhad (fka: WZ Steel Berhad)("WZSatu") had transacted in securities of WZSatu outside closed period, as set out in the table below. | |||||||||||||||||||||
Name of Director: Ng Chong Tin
This announcement is dated 8 April 2014. | ||||||||||||||||||||||
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