June 17, 2014

Company announcements: GENP, YNHPROP, PPB, YTL, CANONE, GAMUDA, TOPGLOV, DIALOG, LYSAGHT

GENP - Additional Listing Announcement

Announcement Type: Additional Listing Announcement (ALA)
Company NameGENTING PLANTATIONS BERHAD  
Stock Name GENP  
Date Announced17 Jun 2014  
CategoryAdditional Listing Announcement (ALA)
Reference NoGP-140617-52222

1. Details of Corporate Proposal

Whether the corporate proposal involves the issuance of new type
and new class of securities?
No
Types of corporate proposalOthers
Details of corporate proposalExercise of Warrants 2013/2019 (GENP-WA)
No. of shares issued under this corporate proposal20,100
Issue price per share ($$)MYR 7.750
Par Value ($$)MYR 0.500
Latest issued and paid up share capital after the above corporate proposal in the following
Units764,653,020
CurrencyMYR 382,326,510.000
Listing Date18/06/2014


YNHPROP - YNHPROP-EMPLOYEES' SHARE OPTION SCHEME ("SCHEME")

Announcement Type: Listing Circular
Company NameYNH PROPERTY BERHAD  
Stock Name YNHPROP  
Date Announced17 Jun 2014  
CategoryListing Circular
Reference NoNE-140617-55715

LISTING'S CIRCULAR NO. L/Q : 70890 OF 2014

Kindly be advised that the abovementioned Company’s additional 45,000 new ordinary shares of RM1.00 each issued pursuant to the aforesaid Scheme will be granted listing and quotation with effect from 9.00 a.m., Thursday, 19 June 2014.


PPB - Changes in Sub. S-hldr's Int. (29B) - EMPLOYEES PROVIDENT FUND BOARD

Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Company NamePPB GROUP BERHAD  
Stock Name PPB  
Date Announced17 Jun 2014  
CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference NoPG-140617-50777

Particulars of substantial Securities Holder

NameEMPLOYEES PROVIDENT FUND BOARD
AddressTINGKAT 19 BANGUNAN KWSP JALAN RAJA LAUT
50350 KUALA LUMPUR
NRIC/Passport No/Company No.EPF ACT 1991
Nationality/Country of incorporationMALAYSIA
Descriptions (Class & nominal value)ORDINARY SHARES OF RM1.00 EACH
Name & address of registered holderCITIGROUP NOMINEES (TEMPATAN) SDN BHD
LEVEL 42 MENARA CITIBANK 165 JALAN AMPANG
50450 KUALA LUMPUR

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transactionDate of change
No of securities
Price Transacted (RM)
Acquired11/06/2014
238,300
 
Disposed11/06/2014
95,200
 
Disposed12/06/2014
9,700
 

Circumstances by reason of which change has occurredACQUISITION/DISPOSAL
Nature of interestDIRECT
Direct (units)89,317,279 
Direct (%)7.53 
Indirect/deemed interest (units) 
Indirect/deemed interest (%) 
Total no of securities after change89,317,279
Date of notice17/06/2014


YTL - Changes in Sub. S-hldr's Int. (29B) - EMPLOYEES PROVIDENT FUND BOARD

Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Company NameYTL CORPORATION BERHAD  
Stock Name YTL  
Date Announced17 Jun 2014  
CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference NoYC-140617-67A45

Particulars of substantial Securities Holder

NameEMPLOYEES PROVIDENT FUND BOARD
AddressTINGKAT 19,BANGUNAN KWSP,JALAN RAJA LAUT,50350 KUALA LUMPUR
NRIC/Passport No/Company No.EPF ACT 1991
Nationality/Country of incorporationMALAYSIA
Descriptions (Class & nominal value)ORDINARY SHARES OF RM0.10 EACH
Name & address of registered holderCITIGROUP NOMINEES (TEMPATAN) SDN BHD - EMPLOYEES PROVIDENT FD BD (NOMURA)

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transactionDate of change
No of securities
Price Transacted (RM)
Acquired12/06/2014
794,500
 

Circumstances by reason of which change has occurredAcquired
Nature of interestDirect
Direct (units)814,269,947 
Direct (%)7.86 
Indirect/deemed interest (units) 
Indirect/deemed interest (%) 
Total no of securities after change814,269,947
Date of notice13/06/2014

Remarks :
Form 29B was received on 17 June 2014


CANONE - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS):NON RELATED PARTY TRANSACTIONS

Announcement Type: General Announcement
Company NameCAN-ONE BERHAD  
Stock Name CANONE  
Date Announced17 Jun 2014  
CategoryGeneral Announcement
Reference NoCU-140617-44068

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
DescriptionCan-One Berhad ("Can-One" or "Company")

Proposed acquisition by Can-One of 3,000,000 ordinary shares of RM1.00 each in F & B Nutrition Sdn Bhd (“F&B”) representing the remaining 20% of the issued and paid-up share capital of F&B not already owned by Can-One for a purchase consideration of RM112,900,000 to be satisfied entirely via the issuance of 39,753,000 new ordinary shares of RM0.50 each in Can-One (“Can-One Share(s)”) at an issue price of RM2.84 per Can-One Share (“Proposed Acquisition”)
(Unless otherwise defined, all terms used in this announcement have the same meaning ascribed in the announcement dated 13 June 2014)
We refer to the announcement dated 13 June 2014 ("Announcement").

On behalf of the Board, MIDF Investment wishes to further elaborate on Section 2.3 of the Announcement. The Purchase Consideration was determined based on 15 times audited PAT of F&B for FYE 31 December 2013, rounded down to the nearest RM100,000 after taking into consideration the price earnings ratios ("PER") of companies in similar industries with F&B ("Comparable Companies") and precedent transactions of similar nature. In addition, the Issue Price of the Consideration Shares was at a premium of approximately 10% over the 5-day VWAMP of Can-One Share up to and including 12 June 2014.

The list of Comparable Companies and their respective multiples are summarised below.

Company
Share price as at 21 May 2014
Earnings per share
PER (times)
Country risk premium (%)
Adjusted PER (times)
Singapore
China Dairy Group Ltd
SGD0.16
SGD0.01
15.60
7.663
15.21
Etika International Holdings Ltd
SGD 0.44
SGD0.22
21.75
7.663
21.21
Malaysia
Fraser & Neave Holdings Berhad
RM18.02
RM0.72
25.03
5.173
25.03
Dutch Lady Milk Industry Malaysia Berhad
RM47.00
RM1.93
24.35
5.173
24.35
Nestle (Malaysia) Berhad
RM68.00
RM2.40
28.33
5.173
28.33
Indonesia
Ultrajaya Milk Industries and Trading Co. Tbk PT
IDR4205
IDR112.6
37.34
3.476
37.98
Vietnam
Viet Nam Dairy Products JSC
VND125000
VND7839
15.95
7.276
15.61
High
37.98
Low
15.21
Average
23.96

(Source: Bloomberg)

The selected Comparable Companies are not direct comparables to F&B due to factors including but not limited to different size and diversity of business, financial strengths, performance and prospects, liquidity and marketability of shares, risk profile, profit track records, management and capital structure.

To ensure a more meaningful comparison for certain selected Comparable Companies that are not listed in Malaysia, adjustments made to account and reflect the different risk factors, market risk premium for investing in equities, market conditions of different countries in which the selected Comparable Companies are listed and operate to the Malaysian context so as to arrive at a comparable base to benchmark against the PER of the Purchase Consideration.

Precedent Transactions

Date announcedTarget companyAcquirer
Percentage of interest (%)
Purchase consideration
PAT
PER (times)
April 2014Dairies and packaging business of Etika International Holdings Ltd, its subsidiaries and associated companies and relevant intellectual propertyAsahi Group Holdings South East Asia Pte Ltd
100
USD328,787,704
(equivalent to RM1,062,230,875)
-(1)
-(1)
July 2013CP-Meiji Co. LtdCharoen Pokphand Foods PCL
60.0
THB1,199,988,000
THB206,000,000
9.71
March 2012Alaska Milk CorpRoyal FrieslandCampina NV
60.8
PHP12,860,000,000
PHP1,103,564,399
19.18
August 2011Able Diaries Sdn BhdJohore Tin Bhd
100.0
RM31,000,000
RM2,003,000
15.48
July 2010Susu Lembu Asli Sdn Bhd and Susu Lembu Asli Marketing Sdn BhdEtika International Holdings Ltd (“Etika”)
100.0
RM89,500,000
RM8,100,000
11.05
High (2)
19.18
Low (2)
9.71
Average (2)
13.86

(Source: Bloomberg)

Notes:

(1) The net profit before tax and minority interest attributable to the sale shares by Etika for the year ended 31 December 2013 is RM42,670,704 (Source: announcement by Etika dated 10 April 2014)). Assuming a tax rate of 31% (Source: Etika annual report for FYE 31 September 2013), the profit after tax is estimated at RM29,442,785 which give an implied PER of 36.08 times. If such PER is included in the tabulation above, the average PER will be 18.30 times.

(2) Excluding precedent transaction announced on April 2014.


GAMUDA - Changes in Sub. S-hldr's Int. (29B) - Employees Provident Fund Board ("EPF Board")

Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Company NameGAMUDA BERHAD  
Stock Name GAMUDA  
Date Announced17 Jun 2014  
CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference NoGG-140617-6929E

Particulars of substantial Securities Holder

NameEmployees Provident Fund Board ("EPF Board")
AddressTingkat 19, Bangunan KWSP, Jalan Raja Laut, 50350 Kuala Lumpur
NRIC/Passport No/Company No.EPF ACT 1991
Nationality/Country of incorporationMalaysia
Descriptions (Class & nominal value)Ordinary shares of RM1.00 each
Name & address of registered holderCitigroup Nominees (Tempatan) Sdn Bhd
- EPF Board

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transactionDate of change
No of securities
Price Transacted (RM)
Disposed12/06/2014
1,004,000
 

Circumstances by reason of which change has occurredDisposal
Nature of interestDirect
Direct (units)159,688,105 
Direct (%)6.9 
Indirect/deemed interest (units) 
Indirect/deemed interest (%) 
Total no of securities after change159,688,105
Date of notice13/06/2014

Remarks :
Notice was received on 17 June 2014.


GAMUDA - Changes in Sub. S-hldr's Int. (29B) - Kumpulan Wang Persaraan (Diperbadankan) ["KWAP"]

Announcement Type: Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Company NameGAMUDA BERHAD  
Stock Name GAMUDA  
Date Announced17 Jun 2014  
CategoryChanges in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference NoGG-140617-CA360

Particulars of substantial Securities Holder

NameKumpulan Wang Persaraan (Diperbadankan) ["KWAP"]
AddressAras 4, 5 & 6, Menara Yayasan Tun Razak
200, Jalan Bukit Bintang
55100 Kuala Lumpur
NRIC/Passport No/Company No.KWAPACT6622007
Nationality/Country of incorporationMalaysia
Descriptions (Class & nominal value)Ordinary shares of RM1.00 each
Name & address of registered holder1) KWAP
2) KWAP's Fund Managers

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transactionDate of change
No of securities
Price Transacted (RM)
Disposed11/06/2014
500,000
 

Circumstances by reason of which change has occurredDisposal of shares in the open market
Nature of interestDirect
Direct (units)119,765,300 
Direct (%)5.18 
Indirect/deemed interest (units) 
Indirect/deemed interest (%) 
Total no of securities after change119,765,300
Date of notice17/06/2014

Remarks :
Notice was received on 17 June 2014.


TOPGLOV - First Interim Dividend

Announcement Type: Entitlements (Notice of Book Closure)
Company NameTOP GLOVE CORPORATION BHD  
Stock Name TOPGLOV  
Date Announced17 Jun 2014  
CategoryEntitlements (Notice of Book Closure)
Reference NoTG-140528-58509

EX-date01/07/2014
Entitlement date03/07/2014
Entitlement time05:00:00 PM
Entitlement subjectFirst Interim Dividend
Entitlement descriptionFirst Single Tier Interim Dividend of 7 sen (net)
Period of interest payment to
Financial Year End31/08/2014
Share transfer book & register of members will be to closed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone noSecurities Services (Holdings) Sdn. Bhd.
Level 7, Menara Milenium,
Jalan Damanlela,
Pusat Bandar Damansara,
Damansara Heights,
50490 Kuala Lumpur,
Wilayah Persekutuan
Tel No.: 03-2084 9000
Payment date 17/07/2014
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers03/07/2014 
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit 
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable) 
Entitlement indicatorCurrency
CurrencyMalaysian Ringgit (MYR)
Entitlement in Currency0.07


DIALOG - Additional Listing Announcement

Announcement Type: Additional Listing Announcement (ALA)
Company NameDIALOG GROUP BERHAD  
Stock Name DIALOG  
Date Announced17 Jun 2014  
CategoryAdditional Listing Announcement (ALA)
Reference NoDG-140617-9500C

1. Details of Corporate Proposal

Whether the corporate proposal involves the issuance of new type
and new class of securities?
No
Types of corporate proposalOthers
Details of corporate proposalConversion of warrants 2012/2017 to ordinary shares
No. of shares issued under this corporate proposal4,963
Issue price per share ($$)MYR 2.400
Par Value ($$)MYR 0.100
Latest issued and paid up share capital after the above corporate proposal in the following
Units2,458,584,625
CurrencyMYR 245,858,462.500
Listing Date18/06/2014


LYSAGHT - GENERAL MEETINGS: NOTICE OF MEETING

Announcement Type: General Meetings
Company NameLYSAGHT GALVANIZED STEEL BERHAD  
Stock Name LYSAGHT  
Date Announced17 Jun 2014  
CategoryGeneral Meetings
Reference NoCC-140617-42702

Type of MeetingAGM
IndicatorNotice of Meeting
DescriptionAddendum to Notice of Annual General Meeting
Date of Meeting25/06/2014
Time03:00 PM
VenueDillenia & Eugenia Room, Ground Floor, Sime Darby Convention Centre, No. 1A, Jalan Bukit Kiara, 60000 Kuala Lumpur
Date of General Meeting Record of Depositors19/06/2014

Attachments

Addendum to Notice of AGM.pdf
470 KB



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