SOP - General Announcement
Announcement Type: General Announcement
Company Name: SARAWAK OIL PALMS BERHAD
Stock Name: SOP
Date Announced: 20/07/2010
Announcement Detail:
Type: Announcement
Subject: PROPOSED JOINT VENTURE ("JV") BETWEEN SOPB AND SHIN YANG HOLDING SDN BHD ("SYHSB"), A MAJOR SHAREHOLDER OF SOPB, VIA MAZAMA PLANTATION SDN BHD ("MPSB") AS THE JOINT-VENTURE COMPANY ("JVC") ("PROPOSED JV")
Contents: INTRODUCTION
On behalf of the Board of Directors of Sarawak Oil Palms Berhad ("SOPB" or "the Company"), with reference to our announcement on 25 June 2009 (Ref No. SOP-090625-EE03E), we wish to announce that the Company and Shin Yang Holding Sdn Bhd ("SYHSB") and Mazama Plantation Sdn Bhd has on 3 July 2010 entered into a Deed of Variation for the variation of the terms of the Share Subscription Agreement ("SSA") dated 25 June 2009 made between SOPB and SYHSB, a major shareholder of SOPB, via MPSB as the Joint Venture Company ("JVC").
Pursuant to paragraph 10.08 of the Listing Requirements of Bursa Malaysia Securities Berhad ("Listing Requirements"), the Deed of Variation entered into between the Parties is deemed to be a related party transaction.
DETAILS OF THE DEED OF VARIATION
That on 25 June 2009, SOPB, SYHSB and MPSB had entered into a joint venture for the purpose of oil palms plantation on all that parcel of land situated at Sebauh, Sub-District, Bintulu Division and extends along the Southern bank of Batang Kemena about 4.50 km South-West of Lavang, Sarawak containing an area of approximately 3,380 hectares more or less (hereinafter referred to as "the Land").
It is inter alia the terms of the Share Subscription Agreement dated 25 June 2009:-
(a) SYHSB shall have procured a provisional lease over the Land with a term of at least sixty (60) years from the date of registration of the lease to be issued to or transferred to MPSB free from all encumbrances.
(the "Conditions Precedent")
(b) Notwithstanding the Condition Precedent, the party for whose benefit a Conditions Precedent is set out, may at its sole and absolute discretion waive the fulfillment of the said Condition Precedent.
(c) Unless specifically waived by the relevant party under (b) above, if any of the Conditions Precedent is not fulfilled within one hundred and eighty (180) days from the date of the SSA or such other dates as the Parties shall agree.
It is inter alia that the salient terms of the Deed of Variation are as follows:-
(1) The Conditions Precedent in Clause (a) abovementioned shall be deleted.
(2) The period prescribed in Clause (c) (as abovementioned) of the Share Subscription Agreement for the fulfillment of the Condition Precedent shall be further extended to a period of one hundred and eighty (180) days from the date of this Deed or such other period as the parties may mutually agree to in writing.
(3) Within a period of twenty four (24) months from the date of this Deed or such other longer period as the parties may all agree in writing, SYHSB shall have procured a provisional lease over the Land with a term of at least sixty (60) years from the date of registration of the lease to be issued to or transferred to MPSB free from all encumbrances ("the Provisional Lease").
(4) In consideration of SOPB agreeing to enter into this Deed of Variation and to subscribe for the Subscription Shares prior to the issuance of the Provisional Lease to the Joint Venture Company, SYHSB hereby grants SOPB an option (the "Put Option") to require SYHSB to purchase from SOPB all the Subscription Shares held by the SOPB in the MPSB ("the Put Shares") at a price based on the market value of the Put Shares as at the date of the issue of the Notice as provided in Clause 6 ("the Put Date") to be determined by a firm of auditors/professional valuers to be agreed and appointed by the Parties (inclusive of all development costs and expenses incurred) and such valuation shall be carried on an assumption that the Provisional Lease had been issued to MPSB ("the Put Price") and the sale of the Put Shares shall be upon the terms and conditions set out in Clause 5-10 below. In the event the SYHSB does not agree to the appointment of any firm of auditors/professional valuers after a period of seven (7) days from such request for such appointment by SOPB, SOPB shall be at liberty to unilaterally appoint a reputable firm of auditors/professional valuers for such purpose and the valuation given by such firm of auditors/professional valuers shall be deemed to be the Put Price acceptable to the parties.
(5) SOPB shall be entitled to exercise the Put Option only in the event that SYHSB shall fail to procure the provisional lease over the Land to be issued to MPSB within the period prescribed in Clause 3 above ("the Put Event") and the Put Option shall be validly exercisable by SOPB for a period of ninety (90) days from the date of Put Event.
(6) The Put Option shall be exercised by SOPB within the Option Period by way of a notice in writing to be issued and served within the Option Period and in respect of all the Option Shares.
(7) The Put Option shall be deemed to be exercised by SOPB on the Put Date on all of the Put Option shares held by the SOPB without the requirement for any further action on part of SOPB and SYHSB and SOPB shall be bound to complete the sale and purchase of the Put Option Shares within a period of forty five (45) days from the Put date (�??the Completion Date").
(8) On the Completion Date, SYHSB shall pay or cause to be paid the Put Price to SOPB by way of immediately available funds to SOPB, such payment to be received no later than 11.00 a.m. on the Completion Date. Simultaneously with the payment of the Put Price, SYHSB shall cause to be paid to SOPB all the advances granted by SOPB to MPSB with interests thereon at the rate of 1.1% above the cost of funds incurred by SOPB. Upon confirmation of receipt of payments of the Put Price and the refund of the advances with interests by SOPB, SOPB shall deliver or cause SYHSB the shares certificates in respect of those Put Option Shares together with valid and registrable but unstamped instruments of transfer thereto duly executed by SOPB in favour of SYHSB or its nominees.
(9) The Put Option Shares shall be transferred to SYHSB or its nominees pursuant to Clause 8 above free from all encumbrances, restrictions, liens, charges or any other security interest whatsoever and with all rights, benefits and entitlements attaching thereto.
(10) Pursuant to the exercise of the Put Option, the SOPB shall execute such other documents, instruments or agreements and do such other acts or things as may be necessary to transfer to SYHSB or its nominees the unencumbered beneficial and legal ownership of the Put Option Shares.
FINANCIAL EFFECTS ON DEED OF VARIATION
The Deed of Variation does not have any effect on the issued and paid up share capital and substantial shareholders' shareholding in SOPB and would not have any material effect on the earnings and net assets of SOPB Group.
APPROVAL REQUIRED
The Deed of Variation is not subject to any further approval from any relevant authorities.
DIRECTORS' AND SUBSTANTIAL SHAREHOLDERS' INTEREST
Pursuant to paragraph 10.08 of the Listing Requirement, the Deed of Variation is deemed to be related party transaction by virtue of Tan Sri Datuk Ling Chiong Ho ("TSDLCH") and Ling Chiong Sing ("LSC") being the interested Directors and the interested Major Shareholders by virtue of Shin Yang Plantation Sdn Bhd, a substantial shareholder of SOPB, is a wholly owned subsidiary of Shin Yang Corporation Sdn Bhd which is in turn wholly owned subsidiary of SYHSB, a company controlled by TSBLCH, LSC, Ling Chiong Pin and Ling Chiong Sieng.
Ling Lu Kuang being the son of Tan Sri Datuk Ling Chiong Ho and Tang Tiong Ing being the representatives of SYHSB being interested Director in the Deed of Variation have abstained and will continue to abstain from deliberation and voting at the relevant Board meetings in relation to the Deed of Variation.
Save as disclosed above, none of the other directors, major shareholders and/or persons connected with them have any interest, direct and/ or indirect, in the Deed of Variation.
DIRECTORS' STATEMENT
The Board, save for TSDLCH, Ling Chiong Sing, Ling Lu Kuang and Tang Tiong Ing who are interested in the Deed of Variation, is the opinion that the Deed of Variation is in the best in interests of the Company.
Company Name: SARAWAK OIL PALMS BERHAD
Stock Name: SOP
Date Announced: 20/07/2010
Announcement Detail:
Type: Announcement
Subject: PROPOSED JOINT VENTURE ("JV") BETWEEN SOPB AND SHIN YANG HOLDING SDN BHD ("SYHSB"), A MAJOR SHAREHOLDER OF SOPB, VIA MAZAMA PLANTATION SDN BHD ("MPSB") AS THE JOINT-VENTURE COMPANY ("JVC") ("PROPOSED JV")
Contents: INTRODUCTION
On behalf of the Board of Directors of Sarawak Oil Palms Berhad ("SOPB" or "the Company"), with reference to our announcement on 25 June 2009 (Ref No. SOP-090625-EE03E), we wish to announce that the Company and Shin Yang Holding Sdn Bhd ("SYHSB") and Mazama Plantation Sdn Bhd has on 3 July 2010 entered into a Deed of Variation for the variation of the terms of the Share Subscription Agreement ("SSA") dated 25 June 2009 made between SOPB and SYHSB, a major shareholder of SOPB, via MPSB as the Joint Venture Company ("JVC").
Pursuant to paragraph 10.08 of the Listing Requirements of Bursa Malaysia Securities Berhad ("Listing Requirements"), the Deed of Variation entered into between the Parties is deemed to be a related party transaction.
DETAILS OF THE DEED OF VARIATION
That on 25 June 2009, SOPB, SYHSB and MPSB had entered into a joint venture for the purpose of oil palms plantation on all that parcel of land situated at Sebauh, Sub-District, Bintulu Division and extends along the Southern bank of Batang Kemena about 4.50 km South-West of Lavang, Sarawak containing an area of approximately 3,380 hectares more or less (hereinafter referred to as "the Land").
It is inter alia the terms of the Share Subscription Agreement dated 25 June 2009:-
(a) SYHSB shall have procured a provisional lease over the Land with a term of at least sixty (60) years from the date of registration of the lease to be issued to or transferred to MPSB free from all encumbrances.
(the "Conditions Precedent")
(b) Notwithstanding the Condition Precedent, the party for whose benefit a Conditions Precedent is set out, may at its sole and absolute discretion waive the fulfillment of the said Condition Precedent.
(c) Unless specifically waived by the relevant party under (b) above, if any of the Conditions Precedent is not fulfilled within one hundred and eighty (180) days from the date of the SSA or such other dates as the Parties shall agree.
It is inter alia that the salient terms of the Deed of Variation are as follows:-
(1) The Conditions Precedent in Clause (a) abovementioned shall be deleted.
(2) The period prescribed in Clause (c) (as abovementioned) of the Share Subscription Agreement for the fulfillment of the Condition Precedent shall be further extended to a period of one hundred and eighty (180) days from the date of this Deed or such other period as the parties may mutually agree to in writing.
(3) Within a period of twenty four (24) months from the date of this Deed or such other longer period as the parties may all agree in writing, SYHSB shall have procured a provisional lease over the Land with a term of at least sixty (60) years from the date of registration of the lease to be issued to or transferred to MPSB free from all encumbrances ("the Provisional Lease").
(4) In consideration of SOPB agreeing to enter into this Deed of Variation and to subscribe for the Subscription Shares prior to the issuance of the Provisional Lease to the Joint Venture Company, SYHSB hereby grants SOPB an option (the "Put Option") to require SYHSB to purchase from SOPB all the Subscription Shares held by the SOPB in the MPSB ("the Put Shares") at a price based on the market value of the Put Shares as at the date of the issue of the Notice as provided in Clause 6 ("the Put Date") to be determined by a firm of auditors/professional valuers to be agreed and appointed by the Parties (inclusive of all development costs and expenses incurred) and such valuation shall be carried on an assumption that the Provisional Lease had been issued to MPSB ("the Put Price") and the sale of the Put Shares shall be upon the terms and conditions set out in Clause 5-10 below. In the event the SYHSB does not agree to the appointment of any firm of auditors/professional valuers after a period of seven (7) days from such request for such appointment by SOPB, SOPB shall be at liberty to unilaterally appoint a reputable firm of auditors/professional valuers for such purpose and the valuation given by such firm of auditors/professional valuers shall be deemed to be the Put Price acceptable to the parties.
(5) SOPB shall be entitled to exercise the Put Option only in the event that SYHSB shall fail to procure the provisional lease over the Land to be issued to MPSB within the period prescribed in Clause 3 above ("the Put Event") and the Put Option shall be validly exercisable by SOPB for a period of ninety (90) days from the date of Put Event.
(6) The Put Option shall be exercised by SOPB within the Option Period by way of a notice in writing to be issued and served within the Option Period and in respect of all the Option Shares.
(7) The Put Option shall be deemed to be exercised by SOPB on the Put Date on all of the Put Option shares held by the SOPB without the requirement for any further action on part of SOPB and SYHSB and SOPB shall be bound to complete the sale and purchase of the Put Option Shares within a period of forty five (45) days from the Put date (�??the Completion Date").
(8) On the Completion Date, SYHSB shall pay or cause to be paid the Put Price to SOPB by way of immediately available funds to SOPB, such payment to be received no later than 11.00 a.m. on the Completion Date. Simultaneously with the payment of the Put Price, SYHSB shall cause to be paid to SOPB all the advances granted by SOPB to MPSB with interests thereon at the rate of 1.1% above the cost of funds incurred by SOPB. Upon confirmation of receipt of payments of the Put Price and the refund of the advances with interests by SOPB, SOPB shall deliver or cause SYHSB the shares certificates in respect of those Put Option Shares together with valid and registrable but unstamped instruments of transfer thereto duly executed by SOPB in favour of SYHSB or its nominees.
(9) The Put Option Shares shall be transferred to SYHSB or its nominees pursuant to Clause 8 above free from all encumbrances, restrictions, liens, charges or any other security interest whatsoever and with all rights, benefits and entitlements attaching thereto.
(10) Pursuant to the exercise of the Put Option, the SOPB shall execute such other documents, instruments or agreements and do such other acts or things as may be necessary to transfer to SYHSB or its nominees the unencumbered beneficial and legal ownership of the Put Option Shares.
FINANCIAL EFFECTS ON DEED OF VARIATION
The Deed of Variation does not have any effect on the issued and paid up share capital and substantial shareholders' shareholding in SOPB and would not have any material effect on the earnings and net assets of SOPB Group.
APPROVAL REQUIRED
The Deed of Variation is not subject to any further approval from any relevant authorities.
DIRECTORS' AND SUBSTANTIAL SHAREHOLDERS' INTEREST
Pursuant to paragraph 10.08 of the Listing Requirement, the Deed of Variation is deemed to be related party transaction by virtue of Tan Sri Datuk Ling Chiong Ho ("TSDLCH") and Ling Chiong Sing ("LSC") being the interested Directors and the interested Major Shareholders by virtue of Shin Yang Plantation Sdn Bhd, a substantial shareholder of SOPB, is a wholly owned subsidiary of Shin Yang Corporation Sdn Bhd which is in turn wholly owned subsidiary of SYHSB, a company controlled by TSBLCH, LSC, Ling Chiong Pin and Ling Chiong Sieng.
Ling Lu Kuang being the son of Tan Sri Datuk Ling Chiong Ho and Tang Tiong Ing being the representatives of SYHSB being interested Director in the Deed of Variation have abstained and will continue to abstain from deliberation and voting at the relevant Board meetings in relation to the Deed of Variation.
Save as disclosed above, none of the other directors, major shareholders and/or persons connected with them have any interest, direct and/ or indirect, in the Deed of Variation.
DIRECTORS' STATEMENT
The Board, save for TSDLCH, Ling Chiong Sing, Ling Lu Kuang and Tang Tiong Ing who are interested in the Deed of Variation, is the opinion that the Deed of Variation is in the best in interests of the Company.
OGAWA - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: PUBLIC INVESTMENT BANK BERHAD
Company Name: OGAWA WORLD BERHAD
Stock Name: OGAWA
Date Announced: 20/07/2010
Announcement Detail:
Type: Announcement
Subject: OGAWA WORLD BERHAD ("OWB" or COMPANY")
PROPOSED ESTABLISHMENT OF AN EXECUTIVES' SHARE OPTION SCHEME ("ESOS" OR "SCHEME") OF UP TO FIFTEEN PERCENT (15%) OF THE ISSUED AND PAID-UP SHARE CAPITAL OF OWB ("PROPOSED ESOS")
Contents: We refer to the announcements dated 8 July 2010, 9 July 2010 and 16 July 2010 in relation to the Proposed ESOS.
On behalf of the Board of Directors of OWB, Public Investment Bank Berhad ("PIVB") is pleased to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") had, vide its letter dated 19 July 2010 (which was received on 20 July 2010), approved the listing of such number of additional new ordinary shares of RM0.50 each in OWB, representing up to 15% of the issued and paid-up share capital of OWB (excluding treasury shares, if any), to be issued pursuant to the exercise of the options under the ESOS subject to inter-alia, the following:
(i) PIVB is required to submit a confirmation to Bursa Securities of full compliance of the ESOS pursuant to paragraph 6.43(1) of the Main Market Listing Requirements of Bursa Securities and stating the effective date of implementation together with a certified true copy of the resolution passed by the shareholders in general meeting; and
(ii) OWB is required to furnish Bursa Securities on a quarterly basis a summary of the total number of ESOS shares listed as at the end of each quarter together with a detailed computation of listing fees payable.
This announcement is dated 20 July 2010.
Submitting Merchant Bank: PUBLIC INVESTMENT BANK BERHAD
Company Name: OGAWA WORLD BERHAD
Stock Name: OGAWA
Date Announced: 20/07/2010
Announcement Detail:
Type: Announcement
Subject: OGAWA WORLD BERHAD ("OWB" or COMPANY")
PROPOSED ESTABLISHMENT OF AN EXECUTIVES' SHARE OPTION SCHEME ("ESOS" OR "SCHEME") OF UP TO FIFTEEN PERCENT (15%) OF THE ISSUED AND PAID-UP SHARE CAPITAL OF OWB ("PROPOSED ESOS")
Contents: We refer to the announcements dated 8 July 2010, 9 July 2010 and 16 July 2010 in relation to the Proposed ESOS.
On behalf of the Board of Directors of OWB, Public Investment Bank Berhad ("PIVB") is pleased to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") had, vide its letter dated 19 July 2010 (which was received on 20 July 2010), approved the listing of such number of additional new ordinary shares of RM0.50 each in OWB, representing up to 15% of the issued and paid-up share capital of OWB (excluding treasury shares, if any), to be issued pursuant to the exercise of the options under the ESOS subject to inter-alia, the following:
(i) PIVB is required to submit a confirmation to Bursa Securities of full compliance of the ESOS pursuant to paragraph 6.43(1) of the Main Market Listing Requirements of Bursa Securities and stating the effective date of implementation together with a certified true copy of the resolution passed by the shareholders in general meeting; and
(ii) OWB is required to furnish Bursa Securities on a quarterly basis a summary of the total number of ESOS shares listed as at the end of each quarter together with a detailed computation of listing fees payable.
This announcement is dated 20 July 2010.
KSTAR - General Announcement
Announcement Type: General Announcement
Company Name: K-STAR SPORTS LIMITED
Stock Name: KSTAR
Date Announced: 20/07/2010
Announcement Detail:
Type: Announcement
Subject: K-STAR SPORTS LIMITED ("THE COMPANY" OR "K-STAR") - STATUS UPDATE ON LAND-USE-RIGHTS AND PROPERTY OWNERSHIP CERTIFICATES FOR FACTORY A LAND AND FACTORY B LAND, JIANGTOU VILLAGE, CHENDAI TOWN, JINJIANG CITY, FUJIAN PROVINCE, PEOPLE'S REPUBLIC OF CHINA ("PRC") OF FUJIAN JINJIANG DIXING SHOES PLASTICS CO., LTD ("FUJIAN DIXING"), A WHOLLY OWNED SUBSIDIARY OF K-STAR ("K-STAR GROUP")
Contents: Further to our announcement made on 5 July 2010, the Board of Directors of K-Star would like to announce that Securities Commission ("SC") has via its letter dated 16 July 2010, received by the Company at its Registered Office on 20 July 2010, granted an approval for the extension of time to 19 December 2010 for Fujian Dixing to obtain its land-use-rights and property ownership certificates for Factory A Land and Factory B Land from the relevant PRC authoritiers .
Company Name: K-STAR SPORTS LIMITED
Stock Name: KSTAR
Date Announced: 20/07/2010
Announcement Detail:
Type: Announcement
Subject: K-STAR SPORTS LIMITED ("THE COMPANY" OR "K-STAR") - STATUS UPDATE ON LAND-USE-RIGHTS AND PROPERTY OWNERSHIP CERTIFICATES FOR FACTORY A LAND AND FACTORY B LAND, JIANGTOU VILLAGE, CHENDAI TOWN, JINJIANG CITY, FUJIAN PROVINCE, PEOPLE'S REPUBLIC OF CHINA ("PRC") OF FUJIAN JINJIANG DIXING SHOES PLASTICS CO., LTD ("FUJIAN DIXING"), A WHOLLY OWNED SUBSIDIARY OF K-STAR ("K-STAR GROUP")
Contents: Further to our announcement made on 5 July 2010, the Board of Directors of K-Star would like to announce that Securities Commission ("SC") has via its letter dated 16 July 2010, received by the Company at its Registered Office on 20 July 2010, granted an approval for the extension of time to 19 December 2010 for Fujian Dixing to obtain its land-use-rights and property ownership certificates for Factory A Land and Factory B Land from the relevant PRC authoritiers .
IJMLAND - Proposed Dealing by Principal Officer in the Securities of the Company During a Closed Period
Announcement Type: General Announcement
Company Name: IJM LAND BERHAD
Stock Name: IJMLAND
Date Announced: 20/07/2010
Announcement Detail:
Type: Announcement
Subject: Proposed Dealing by Principal Officer in the Securities of the Company During a Closed Period
Contents: The following Principal Officer has given notice of his intention to deal in the securities of the Company during the closed period and his current holdings of the securities are as follows:-
Company Name: IJM LAND BERHAD
Stock Name: IJMLAND
Date Announced: 20/07/2010
Announcement Detail:
Type: Announcement
Subject: Proposed Dealing by Principal Officer in the Securities of the Company During a Closed Period
Contents: The following Principal Officer has given notice of his intention to deal in the securities of the Company during the closed period and his current holdings of the securities are as follows:-
TWSPLNT - General Announcement
Announcement Type: General Announcement
Company Name: TRADEWINDS PLANTATION BERHAD
Stock Name: TWSPLNT
Date Announced: 20/07/2010
Announcement Detail:
Type: Announcement
Subject: EXTENSION OF TIME TO COMPLY WITH THE OUTSTANDING CONDITION IMPOSED BY THE SECURITIES COMMISSION ("SC") ON A PROPERTY OF TPB AND ITS SUBSIDIARY
Contents: We refer to the announcement made by CIMB Investment Bank Berhad, on behalf of TPB, on 23 December 2008 in relation to the extension of time up to 31 December 2010 pertaining to the outstanding condition imposed by the SC on TPB Group's property namely PT 803, Mukim of Hulu Jabur, District of Kemaman, Terengganu and our announcements dated 15 July 2009 and 15 January 2010 on the status of compliance thereto.
Company Name: TRADEWINDS PLANTATION BERHAD
Stock Name: TWSPLNT
Date Announced: 20/07/2010
Announcement Detail:
Type: Announcement
Subject: EXTENSION OF TIME TO COMPLY WITH THE OUTSTANDING CONDITION IMPOSED BY THE SECURITIES COMMISSION ("SC") ON A PROPERTY OF TPB AND ITS SUBSIDIARY
Contents: We refer to the announcement made by CIMB Investment Bank Berhad, on behalf of TPB, on 23 December 2008 in relation to the extension of time up to 31 December 2010 pertaining to the outstanding condition imposed by the SC on TPB Group's property namely PT 803, Mukim of Hulu Jabur, District of Kemaman, Terengganu and our announcements dated 15 July 2009 and 15 January 2010 on the status of compliance thereto.
PUNCAK - General Announcement
Announcement Type: General Announcement
Company Name: PUNCAK NIAGA HOLDINGS BERHAD
Stock Name: PUNCAK
Date Announced: 20/07/2010
Announcement Detail:
Type: Announcement
Subject: PUNCAK NIAGA HOLDINGS BERHAD (416087-U) ("PUNCAK" OR THE "COMPANY")
SIGNING OF TRIPARTITE AGREEMENT IN RESPECT OF LUSHAN COUNTY WATER SUPPLY PROJECT BETWEEN THE COMPANY'S 80% OWNED SUBSIDIARY, SINO WATER PTE LTD AND LUSHAN COUNTY GOVERNMENT, HENAN PROVINCE AND ENVIRONMENTAL HOLDING PTE LTD
Contents: Reference is made to the Company's earlier announcements made on 22 May 2008, 9 June 2008 and 20 August 2008 respectively.
The Board of Directors of the Company wishes to announce that the Company's 80% owned subsidiary, Sino Water Pte Ltd ("Sino Water"), a company incorporated in Singapore, had on 20 July 2010 entered into a Tripartite Agreement with Lushan County Government, Henan Province and Environmental Holding Pte Ltd ("EHPL") for the novation of the Lushan County Water Supply Project from EHPL to Sino Water ("Tripartite Agreement").
1. SALIENT TERMS OF THE TRIPARTITE AGREEMENT
The salient terms of the Tripartite Agreement are as follows: -
a. EHPL agreed to transfer 83% equity of Luwei (Pingdingshan) Water Co Ltd ("Luwei Co Ltd") and its associated rights and obligations to Sino Water.
b. Sino Water agreed to accept the 83% equity of Luwei Co Ltd and its associated rights and obligations transferred from EHPL.
c. Lushan County Government confirmed and agreed to the transfer of 83% equity of Luwei Co Ltd and its associated rights and obligations from EHPL to Sino Water, and agreed to continue to fulfil its obligations as provided in the Lushan County Water Concession Agreement dated 29 December 2004 between Lushan County Government and EHPL and all supplemental agreements executed thereafter.
d. The Tripartite Agreement is effective upon confirmation and acceptance for lodgement by the World Bank Project Unit at Pingdingshan and Zhengzhou, Henan Province.
2. BRIEF ON LUSHAN COUNTY WATER SUPPLY PROJECT
Lushan County Water Supply Project involves the construction and operation of a 50 MLD Water Treatment Plant ("WTP") in Lushan, where a 30 MLD WTP complete with 40 km pipelines are being constructed under Phase One.
3. RATIONALE FOR THE TRIPARTITE AGREEMENT
The execution of the Tripartite Agreement is to effect the novation of the Lushan County Water Supply Project from EHPL to Sino Water.
4. FINANCIAL EFFECTS OF THE TRIPARTITE AGREEMENT
The execution of the Tripartite Agreement is not expected to have a material effect on the earnings, net assets and gearing of the Company and the Group for the financial year ending 31 December 2010.
The execution of the Tripartite Agreement will not have any effect on the issued and paid up share capital of the Company as well as its substantial shareholders'shareholdings.
5. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS
None of the Directors, major shareholders and/or persons connected with a Director or a major shareholder of the Company, have any interest, direct or indirect, in the Tripartite Agreement.
This announcement is dated 20 July 2010.
Company Name: PUNCAK NIAGA HOLDINGS BERHAD
Stock Name: PUNCAK
Date Announced: 20/07/2010
Announcement Detail:
Type: Announcement
Subject: PUNCAK NIAGA HOLDINGS BERHAD (416087-U) ("PUNCAK" OR THE "COMPANY")
SIGNING OF TRIPARTITE AGREEMENT IN RESPECT OF LUSHAN COUNTY WATER SUPPLY PROJECT BETWEEN THE COMPANY'S 80% OWNED SUBSIDIARY, SINO WATER PTE LTD AND LUSHAN COUNTY GOVERNMENT, HENAN PROVINCE AND ENVIRONMENTAL HOLDING PTE LTD
Contents: Reference is made to the Company's earlier announcements made on 22 May 2008, 9 June 2008 and 20 August 2008 respectively.
The Board of Directors of the Company wishes to announce that the Company's 80% owned subsidiary, Sino Water Pte Ltd ("Sino Water"), a company incorporated in Singapore, had on 20 July 2010 entered into a Tripartite Agreement with Lushan County Government, Henan Province and Environmental Holding Pte Ltd ("EHPL") for the novation of the Lushan County Water Supply Project from EHPL to Sino Water ("Tripartite Agreement").
1. SALIENT TERMS OF THE TRIPARTITE AGREEMENT
The salient terms of the Tripartite Agreement are as follows: -
a. EHPL agreed to transfer 83% equity of Luwei (Pingdingshan) Water Co Ltd ("Luwei Co Ltd") and its associated rights and obligations to Sino Water.
b. Sino Water agreed to accept the 83% equity of Luwei Co Ltd and its associated rights and obligations transferred from EHPL.
c. Lushan County Government confirmed and agreed to the transfer of 83% equity of Luwei Co Ltd and its associated rights and obligations from EHPL to Sino Water, and agreed to continue to fulfil its obligations as provided in the Lushan County Water Concession Agreement dated 29 December 2004 between Lushan County Government and EHPL and all supplemental agreements executed thereafter.
d. The Tripartite Agreement is effective upon confirmation and acceptance for lodgement by the World Bank Project Unit at Pingdingshan and Zhengzhou, Henan Province.
2. BRIEF ON LUSHAN COUNTY WATER SUPPLY PROJECT
Lushan County Water Supply Project involves the construction and operation of a 50 MLD Water Treatment Plant ("WTP") in Lushan, where a 30 MLD WTP complete with 40 km pipelines are being constructed under Phase One.
3. RATIONALE FOR THE TRIPARTITE AGREEMENT
The execution of the Tripartite Agreement is to effect the novation of the Lushan County Water Supply Project from EHPL to Sino Water.
4. FINANCIAL EFFECTS OF THE TRIPARTITE AGREEMENT
The execution of the Tripartite Agreement is not expected to have a material effect on the earnings, net assets and gearing of the Company and the Group for the financial year ending 31 December 2010.
The execution of the Tripartite Agreement will not have any effect on the issued and paid up share capital of the Company as well as its substantial shareholders'shareholdings.
5. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS
None of the Directors, major shareholders and/or persons connected with a Director or a major shareholder of the Company, have any interest, direct or indirect, in the Tripartite Agreement.
This announcement is dated 20 July 2010.
HUBLINE - Notice of Shares Buy Back - Immediate Announcement
Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Company Name: HUBLINE BERHAD
Stock Name: HUBLINE
Date Announced: 20/07/2010
Announcement Detail:
Date of buy back: 20/07/2010
Description of shares purchased: Ordinary Shares of RM0.20 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 150,000
Minimum price paid for each share purchased ($$): 0.190
Maximum price paid for each share purchased ($$): 0.190
Total consideration paid ($$): 28,708.55
Number of shares purchased retained in treasury (units): 150,000
Number of shares purchased which are proposed to be cancelled (units): 0
Cumulative net outstanding treasury shares as at to-date (units): 11,596,600
Adjusted issued capital after cancellation (no. of shares) (units): 0
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 0.01
Company Name: HUBLINE BERHAD
Stock Name: HUBLINE
Date Announced: 20/07/2010
Announcement Detail:
Date of buy back: 20/07/2010
Description of shares purchased: Ordinary Shares of RM0.20 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 150,000
Minimum price paid for each share purchased ($$): 0.190
Maximum price paid for each share purchased ($$): 0.190
Total consideration paid ($$): 28,708.55
Number of shares purchased retained in treasury (units): 150,000
Number of shares purchased which are proposed to be cancelled (units): 0
Cumulative net outstanding treasury shares as at to-date (units): 11,596,600
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 (%): 0.01
PHARMA - Interim Dividend
Announcement Type: Entitlements (Notice of Book Closure)
Company Name: PHARMANIAGA BERHAD
Stock Name: PHARMA
Date Announced: 20/07/2010
Announcement Detail:
EX-date: 02/08/2010
Entitlement date: 04/08/2010
Entitlement time: 04:00:00 PM
Entitlement subject: Interim Dividend
Entitlement description: An Interim gross dividend of 10 sen per share, less taxation of 25% for the financial year ending 31 December 2010.
Period of interest payment: to
Financial Year End: 31/12/2010
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 no: Symphony Share Registrars Sdn Bhd,
Level 6, Symphony House, Pusat Dagangan Dana 1, Jalan PJU 1A/46, 47301 Petaling Jaya, Selangor Darul Ehsan,
Tel : 03-78418000
Payment date: 19/08/2010
a. Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers: 04/08/2010
Entitlement indicator: Currency
Currency: Malaysian Ringgit (MYR)
Entitlement in Currency: 0.1
Company Name: PHARMANIAGA BERHAD
Stock Name: PHARMA
Date Announced: 20/07/2010
Announcement Detail:
EX-date: 02/08/2010
Entitlement date: 04/08/2010
Entitlement time: 04:00:00 PM
Entitlement subject: Interim Dividend
Entitlement description: An Interim gross dividend of 10 sen per share, less taxation of 25% for the financial year ending 31 December 2010.
Period of interest payment: to
Financial Year End: 31/12/2010
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 no: Symphony Share Registrars Sdn Bhd,
Level 6, Symphony House, Pusat Dagangan Dana 1, Jalan PJU 1A/46, 47301 Petaling Jaya, Selangor Darul Ehsan,
Tel : 03-78418000
Payment date: 19/08/2010
a. Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers: 04/08/2010
Entitlement indicator: Currency
Currency: Malaysian Ringgit (MYR)
Entitlement in Currency: 0.1
SIGN - General Announcement
Announcement Type: General Announcement
Company Name: SIGNATURE INTERNATIONAL BERHAD
Stock Name: SIGN
Date Announced: 20/07/2010
Announcement Detail:
Type: Announcement
Subject: PRINCIPAL OFFICERS' DISCLOSURE OF DEALING IN SECURITIES PURSUANT TO PARAGRAPH 14.09(a) OF THE LISTING REQUIREMENTS
Contents: We wish to announce that the undermentioned Principal Officers of Signature International Berhad ("SIGN") have transacted dealings in SIGN's securities during outside closed period in relation to an allotment of additional shares arising from the bonus issue on the basis of one new share for every two existing ordinary shares held.
Company Name: SIGNATURE INTERNATIONAL BERHAD
Stock Name: SIGN
Date Announced: 20/07/2010
Announcement Detail:
Type: Announcement
Subject: PRINCIPAL OFFICERS' DISCLOSURE OF DEALING IN SECURITIES PURSUANT TO PARAGRAPH 14.09(a) OF THE LISTING REQUIREMENTS
Contents: We wish to announce that the undermentioned Principal Officers of Signature International Berhad ("SIGN") have transacted dealings in SIGN's securities during outside closed period in relation to an allotment of additional shares arising from the bonus issue on the basis of one new share for every two existing ordinary shares held.
GFB - Notice of Shares Buy Back by a Company pursuant to Form 28A
Announcement Type: Notice of Shares Buy Back by a Company Pursuant to Form 28A
Company Name: GOLDEN FRONTIER BERHAD
Stock Name: GFB
Date Announced: 20/07/2010
Announcement Detail:
Date of buy back from: 12/07/2010
Date of buy back to: 16/07/2010
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 44,000
Minimum price paid for each share purchased ($$): 1.360
Maximum price paid for each share purchased ($$): 1.390
Total amount paid for shares purchased ($$): 61,293.44
The name of the stock exchange through which the shares were purchased: Bursa Malaysia Securities Berhad
Number of shares purchased retained in treasury (units): 44,000
Total number of shares retained in treasury (units): 1,538,000
Number of shares purchased which were cancelled (units): 5,826,204
Total issued capital as diminished: 56608800
Date lodged with registrar of companies: 20/07/2010
Lodged by: TMF Administrative Services Malaysia Sdn. Bhd.
Remarks: The consideration paid for the shares purchased is inclusive of brokerage, clearing house fee and stamp duty.
This announcement is dated 20/07/2010.
Company Name: GOLDEN FRONTIER BERHAD
Stock Name: GFB
Date Announced: 20/07/2010
Announcement Detail:
Date of buy back from: 12/07/2010
Date of buy back to: 16/07/2010
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 44,000
Minimum price paid for each share purchased ($$): 1.360
Maximum price paid for each share purchased ($$): 1.390
Total amount paid for shares purchased ($$): 61,293.44
The name of the stock exchange through which the shares were purchased: Bursa Malaysia Securities Berhad
Number of shares purchased retained in treasury (units): 44,000
Total number of shares retained in treasury (units): 1,538,000
Number of shares purchased which were cancelled (units): 5,826,204
Total issued capital as diminished: 56608800
Date lodged with registrar of companies: 20/07/2010
Lodged by: TMF Administrative Services Malaysia Sdn. Bhd.
Remarks: The consideration paid for the shares purchased is inclusive of brokerage, clearing house fee and stamp duty.
This announcement is dated 20/07/2010.
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