Company announcements: ALAM

ALAM - OTHERS SHAREHOLDERS’ AGREEMENT BETWEEN ALAM MARITIM INVESTMENT HOLDINGS (L) INC AND VALLIANZ INTERNATIONAL PTE LTD

Announcement Type: General Announcement

Company Name	ALAM MARITIM RESOURCES BERHAD
Stock Name	ALAM
Date Announced	5 Jan 2015
Category	General Announcement
Reference No	AM-150105-67403

Type	Announcement
Subject	OTHERS
Description	SHAREHOLDERS’ AGREEMENT BETWEEN ALAM MARITIM INVESTMENT HOLDINGS (L) INC AND VALLIANZ INTERNATIONAL PTE LTD
The Board of Directors of Alam Maritim Resources Berhad ("ALAM” or "Company") wishes to announce that its wholly owned subsidiary, Alam Maritim Investment Holdings (L) Inc (“AMIH”) had on 5 January 2015 entered into a Shareholders’ Agreement with Vallianz International Pte Ltd (“VIPL”), a wholly-owned subsidiary of Vallianz Holdings Limited listed on the Catalist of Singapore Exchange.   THE SHAREHOLDERS’ AGREEMENT (“SA”) Pursuant to the SA, AMIH and VIPL had incorporated in Labuan, a joint venture company known as Deepsea Leader Venture (L) Inc (“Deepsea”) for the purpose of owning offshore support vessels operating in Malaysia’s upstream market and any other incidental activities or work in relation thereto.   The details of Deepsea as mentioned in Table 1. FINANCIAL EFFECTS   The completion of the SA is not expected to have any material effects on the share capital and shareholding structure of the Company. Deepsea is expected to contribute positively to the earnings and net tangible assets of the Group for the year ending 31 December 2015 and beyond.   APPROVAL REQUIRED   The execution of the SA has been approved by the respective Boards and is not conditional upon the approval of the Company’s shareholders or any approvals being obtained from any relevant authorities.   DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTEREST   None of the Directors or major shareholders or persons connected to the Directors or major shareholders has any direct or indirect interest in the SA.     DIRECTORS’ STATEMENT   The Board of Directors of ALAM is of the opinion that the execution of SA is in the best interest of the Group.      Table 1   Company Name Deepsea Leader Venture (L) Inc   Company No. LL11429   Registered Address Lot No. 20, Level 1, Lazenda Commercial Centre, Phase 3, Jalan OKK Abdullah, 87000 Labuan F.T. Malaysia.   Principal Activities Ship management and operation, ship owning, ship maintenance and marine consultancy   Paid-up Capital USD100.00 of USD1.00 each Shareholders Alam Maritim Investment Holdings (L) Inc – 51 shares of USD1.00 each; and   Vallianz International Pte Ltd – 49 shares of USD1.00 each   Directors (i) Datuk Azmi bin Ahmad; (ii) Encik Shaharuddin bin Warno @ Rahmad; (iii) Mr Yeo Chee Neng; and (iv) Mr Ling Yong Wah   The announcement is dated 5 January 2015.

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