MEMS - MEMS TECHNOLOGY BERHAD ("MEMSTECH" OR "THE COMPANY") - EXTENSION OF RESTRAINING ORDER
Announcement Type: General Announcement
Company Name: MEMS TECHNOLOGY BERHAD (ACE Market)
Stock Name: MEMS
Date Announced: 08/11/2010
Announcement Detail:
Regularisation Sponsor: AmInvestment Bank Bhd
Sponsor: Same as above
Type: Announcement
Subject: MEMS TECHNOLOGY BERHAD ("MEMSTECH" OR "THE COMPANY")
- EXTENSION OF RESTRAINING ORDER
Contents: Further to the Company's announcement dated 22 July 2010 in relation to the extension of the restraining order ("RO"), the Board of Directors of Memstech ("Board") wishes to announce that Memstech and its following subsidiary companies have been granted a further extension of the RO for a period of 90 days effective from 20 October 2010 to 19 January 2011 by the High Court of Malaya at Kuala Lumpur ("High Court") pursuant to Section 176(10) of the Companies Act, 1965 ("Act"):-
a) Senzpak (M) Sdn Bhd (Company No: 610391-K);and
b) Mems Product Development Sdn Bhd (Company No : 825912-H).
The sealed RO dated 4 November 2010 is pending extraction from the High Court.
This announcement is dated 8 November 2010.
Company Name: MEMS TECHNOLOGY BERHAD (ACE Market)
Stock Name: MEMS
Date Announced: 08/11/2010
Announcement Detail:
Regularisation Sponsor: AmInvestment Bank Bhd
Sponsor: Same as above
Type: Announcement
Subject: MEMS TECHNOLOGY BERHAD ("MEMSTECH" OR "THE COMPANY")
- EXTENSION OF RESTRAINING ORDER
Contents: Further to the Company's announcement dated 22 July 2010 in relation to the extension of the restraining order ("RO"), the Board of Directors of Memstech ("Board") wishes to announce that Memstech and its following subsidiary companies have been granted a further extension of the RO for a period of 90 days effective from 20 October 2010 to 19 January 2011 by the High Court of Malaya at Kuala Lumpur ("High Court") pursuant to Section 176(10) of the Companies Act, 1965 ("Act"):-
a) Senzpak (M) Sdn Bhd (Company No: 610391-K);and
b) Mems Product Development Sdn Bhd (Company No : 825912-H).
The sealed RO dated 4 November 2010 is pending extraction from the High Court.
This announcement is dated 8 November 2010.
CARLAW - HDM-CARLAW CORPORATION BERHAD ("HDM" OR "THE COMPANY") - EXTENSION OF RESTRAINING ORDER
Announcement Type: General Announcement
Company Name: HDM-CARLAW CORPORATION BERHAD (ACE Market)
Stock Name: CARLAW
Date Announced: 08/11/2010
Announcement Detail:
Regularisation Sponsor: M&A Securities Sdn Bhd
Sponsor: Same as above
Type: Announcement
Subject: HDM-CARLAW CORPORATION BERHAD ("HDM" OR "THE COMPANY")
- EXTENSION OF RESTRAINING ORDER
Contents: Further to the announcement dated 3 November 2010, HDM wishes to inform that the Honorable Judicial Commissioner has written on his notes that the Court will be more circumspect should there be any further application for extension as it will exceed 120 days by then.
This announcement is dated 8 November 2010.
Company Name: HDM-CARLAW CORPORATION BERHAD (ACE Market)
Stock Name: CARLAW
Date Announced: 08/11/2010
Announcement Detail:
Regularisation Sponsor: M&A Securities Sdn Bhd
Sponsor: Same as above
Type: Announcement
Subject: HDM-CARLAW CORPORATION BERHAD ("HDM" OR "THE COMPANY")
- EXTENSION OF RESTRAINING ORDER
Contents: Further to the announcement dated 3 November 2010, HDM wishes to inform that the Honorable Judicial Commissioner has written on his notes that the Court will be more circumspect should there be any further application for extension as it will exceed 120 days by then.
This announcement is dated 8 November 2010.
FBMKLCI-EA - FBM KLCI etf - Valuation Point as at 8 November 2010
Announcement Type: General Announcement
Company Name: FTSE BURSA MALAYSIA KLCI ETF
Stock Name: FBMKLCI-EA
Date Announced: 08/11/2010
Announcement Detail:
Type: Announcement
Subject: FBM KLCI etf - Valuation Point as at 8 November 2010
Contents: Fund: FBM KLCI etf
NAV per unit (RM): 1.5281
Units in circulation (units): 3,344,000
Manager's Fee (% p.a): 0.50
Trustee Fee (% p.a): 0.06
License Fee (% p.a): 0.04
FTSE Bursa Malaysia KLCI Index: 1,519.84
Attachments: FBM KLCI etf 20101108.xls
Company Name: FTSE BURSA MALAYSIA KLCI ETF
Stock Name: FBMKLCI-EA
Date Announced: 08/11/2010
Announcement Detail:
Type: Announcement
Subject: FBM KLCI etf - Valuation Point as at 8 November 2010
Contents: Fund: FBM KLCI etf
NAV per unit (RM): 1.5281
Units in circulation (units): 3,344,000
Manager's Fee (% p.a): 0.50
Trustee Fee (% p.a): 0.06
License Fee (% p.a): 0.04
FTSE Bursa Malaysia KLCI Index: 1,519.84
Attachments: FBM KLCI etf 20101108.xls
MYETFDJ - MYETF DOW JONES ISLAMIC MARKET MALAYSIA TITANS 25 - Valuation Point as at 08-11-2010
Announcement Type: General Announcement
Company Name: MYETF DOW JONES ISLAMIC MARKET MALAYSIA TITANS 25
Stock Name: MYETFDJ
Date Announced: 08/11/2010
Announcement Detail:
Type: Announcement
Subject: MYETF DOW JONES ISLAMIC MARKET MALAYSIA TITANS 25 - Valuation Point as at 08-11-2010
Contents: Fund:MYETFDJ
NAV per unit (RM):0.9478
Units in Circulation (units):663,500,000
Manager's Fee (%p.a):0.40
Trustee's Fee (%p.a):0.05
License Fee (%p.a):0.04
DJIM25 Index:848.52
Attachments: Daily Fund Values 081110.pdf
Company Name: MYETF DOW JONES ISLAMIC MARKET MALAYSIA TITANS 25
Stock Name: MYETFDJ
Date Announced: 08/11/2010
Announcement Detail:
Type: Announcement
Subject: MYETF DOW JONES ISLAMIC MARKET MALAYSIA TITANS 25 - Valuation Point as at 08-11-2010
Contents: Fund:MYETFDJ
NAV per unit (RM):0.9478
Units in Circulation (units):663,500,000
Manager's Fee (%p.a):0.40
Trustee's Fee (%p.a):0.05
License Fee (%p.a):0.04
DJIM25 Index:848.52
Attachments: Daily Fund Values 081110.pdf
AMOLEK - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: MIMB INVESTMENT BANK BERHAD
Company Name: THE AYER MOLEK RUBBER COMPANY BERHAD
Stock Name: AMOLEK
Date Announced: 08/11/2010
Announcement Detail:
Type: Announcement
Subject: THE AYER MOLEK RUBBER COMPANY BERHAD ("AMOLEK" OR THE "COMPANY")
REQUISITE ANNOUNCEMENT PURSUANT TO PRACTICE NOTE 17 ("PN17") OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") ("MMLR")
Contents: We refer to the announcements dated 11 December 2009 and 12 May 2010 by MIMB Investment Bank Berhad ("MIMB") on behalf of the Board of Directors of AMolek ("Board"), that the Company is required to announce and submit a comprehensive regularisation plan on or before 18 November 2010.
On behalf of the Board, MIMB wishes to announce that AMolek had on 3 November 2010 entered into an agreement with the existing shareholders of Toptrans Engineering Sdn Bhd ("Toptrans") wherein the parties have agreed to undertake the following proposals:-
(i) Proposed Acquisition of Toptrans;
(ii) Proposed Share Exchange;
(iii) Proposed Offer for Sale;
(iv) Proposed Private Placement; and
(v) Proposed Transfer of Listing Status.
(Collectively referred to as the "Proposed Restructuring Scheme" or "Proposals")
Please refer to the attachment for further details of the announcement.
This announcement is dated 8 November 2010.
Attachments: AMolek-Requisite Announcement Final.pdf
Appendix I.pdf
Submitting Merchant Bank: MIMB INVESTMENT BANK BERHAD
Company Name: THE AYER MOLEK RUBBER COMPANY BERHAD
Stock Name: AMOLEK
Date Announced: 08/11/2010
Announcement Detail:
Type: Announcement
Subject: THE AYER MOLEK RUBBER COMPANY BERHAD ("AMOLEK" OR THE "COMPANY")
REQUISITE ANNOUNCEMENT PURSUANT TO PRACTICE NOTE 17 ("PN17") OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") ("MMLR")
Contents: We refer to the announcements dated 11 December 2009 and 12 May 2010 by MIMB Investment Bank Berhad ("MIMB") on behalf of the Board of Directors of AMolek ("Board"), that the Company is required to announce and submit a comprehensive regularisation plan on or before 18 November 2010.
On behalf of the Board, MIMB wishes to announce that AMolek had on 3 November 2010 entered into an agreement with the existing shareholders of Toptrans Engineering Sdn Bhd ("Toptrans") wherein the parties have agreed to undertake the following proposals:-
(i) Proposed Acquisition of Toptrans;
(ii) Proposed Share Exchange;
(iii) Proposed Offer for Sale;
(iv) Proposed Private Placement; and
(v) Proposed Transfer of Listing Status.
(Collectively referred to as the "Proposed Restructuring Scheme" or "Proposals")
Please refer to the attachment for further details of the announcement.
This announcement is dated 8 November 2010.
Attachments: AMolek-Requisite Announcement Final.pdf
Appendix I.pdf
MFLOUR - Quarterly rpt on consolidated results for the financial period ended 30/9/2010
Announcement Type: Financial Results
Company Name: MALAYAN FLOUR MILLS BERHAD
Stock Name: MFLOUR
Date Announced: 08/11/2010
Announcement Detail:
Financial Year End: 31/12/2010
Quarter: 3
Quarterly report for the financial period ended: 30/09/2010
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
Company Name: MALAYAN FLOUR MILLS BERHAD
Stock Name: MFLOUR
Date Announced: 08/11/2010
Announcement Detail:
Financial Year End: 31/12/2010
Quarter: 3
Quarterly report for the financial period ended: 30/09/2010
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
MFLOUR - Interim Dividend
Announcement Type: Entitlements (Notice of Book Closure)
Company Name: MALAYAN FLOUR MILLS BERHAD
Stock Name: MFLOUR
Date Announced: 08/11/2010
Announcement Detail:
EX-date: 26/11/2010
Entitlement date: 30/11/2010
Entitlement time: 05:00:00 PM
Entitlement subject: Interim Dividend
Entitlement description: Interim Dividend of 6 sen per Ordinary Share less 25% income tax
Period of interest payment: to
Financial Year End: 31/12/2010
Share transfer book & register of members will be: 01/12/2010 to 02/12/2010 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
Block D13, Pusat Dagangan Dana 1
Jalan PJU 1A/46
47301 Petaling Jaya, Selangor.
Tel: 03-78418000
Payment date: 15/12/2010
a. Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers: 30/11/2010
b. Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit: 26/11/2010
Entitlement indicator: Currency
Currency: Malaysian Ringgit (MYR)
Entitlement in Currency: 0.06
Company Name: MALAYAN FLOUR MILLS BERHAD
Stock Name: MFLOUR
Date Announced: 08/11/2010
Announcement Detail:
EX-date: 26/11/2010
Entitlement date: 30/11/2010
Entitlement time: 05:00:00 PM
Entitlement subject: Interim Dividend
Entitlement description: Interim Dividend of 6 sen per Ordinary Share less 25% income tax
Period of interest payment: to
Financial Year End: 31/12/2010
Share transfer book & register of members will be: 01/12/2010 to 02/12/2010 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
Block D13, Pusat Dagangan Dana 1
Jalan PJU 1A/46
47301 Petaling Jaya, Selangor.
Tel: 03-78418000
Payment date: 15/12/2010
a. Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers: 30/11/2010
b. Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit: 26/11/2010
Entitlement indicator: Currency
Currency: Malaysian Ringgit (MYR)
Entitlement in Currency: 0.06
TAGB - TA GLOBAL BERHAD ("TA GLOBAL" OR "COMPANY") ACQUISITION OF FOREIGN SUBSIDIARY - QUAYWEST LTD
Announcement Type: General Announcement
Company Name: TA GLOBAL BERHAD
Stock Name: TAGB
Date Announced: 08/11/2010
Announcement Detail:
Type: Announcement
Subject: TA GLOBAL BERHAD ("TA GLOBAL" OR "COMPANY")
ACQUISITION OF FOREIGN SUBSIDIARY - QUAYWEST LTD
Contents: The Board of Directors of TA Global wish to announce that the Company has acquired 100 ordinary shares of US$1.00 each representing 100% equity interest in Quaywest Ltd, a foreign subsidiary, for a total cash consideration of US$100.00 on 8 November 2010.
Quaywest Ltd was incorporated on 8 November 2010 in Mauritius under the Companies Act 2001. The current issued and paid-up capital of Quaywest Ltd is US$100.00 divided into 100 ordinary shares of US$1.00 each fully paid-up. The principal activity is investment holding company.
None of the Directors, substantial shareholders and/or persons connected with them has any direct or indirect interest in the aforesaid acquisition.
This announcement is dated 8 November 2010.
Company Name: TA GLOBAL BERHAD
Stock Name: TAGB
Date Announced: 08/11/2010
Announcement Detail:
Type: Announcement
Subject: TA GLOBAL BERHAD ("TA GLOBAL" OR "COMPANY")
ACQUISITION OF FOREIGN SUBSIDIARY - QUAYWEST LTD
Contents: The Board of Directors of TA Global wish to announce that the Company has acquired 100 ordinary shares of US$1.00 each representing 100% equity interest in Quaywest Ltd, a foreign subsidiary, for a total cash consideration of US$100.00 on 8 November 2010.
Quaywest Ltd was incorporated on 8 November 2010 in Mauritius under the Companies Act 2001. The current issued and paid-up capital of Quaywest Ltd is US$100.00 divided into 100 ordinary shares of US$1.00 each fully paid-up. The principal activity is investment holding company.
None of the Directors, substantial shareholders and/or persons connected with them has any direct or indirect interest in the aforesaid acquisition.
This announcement is dated 8 November 2010.
HLCAP - HLG CAPITAL BERHAD Proposed Change of Name
Announcement Type: General Announcement
Company Name: HLG CAPITAL BERHAD
Stock Name: HLCAP
Date Announced: 08/11/2010
Announcement Detail:
Type: Announcement
Subject: HLG CAPITAL BERHAD
Proposed Change of Name
Contents: Further to our announcement on 13 August 2010, HLG Capital Berhad is pleased to announce that it has changed its name to Hong Leong Capital Berhad with effect from 4 November 2010.
This announcement is dated 8 November 2010.
Company Name: HLG CAPITAL BERHAD
Stock Name: HLCAP
Date Announced: 08/11/2010
Announcement Detail:
Type: Announcement
Subject: HLG CAPITAL BERHAD
Proposed Change of Name
Contents: Further to our announcement on 13 August 2010, HLG Capital Berhad is pleased to announce that it has changed its name to Hong Leong Capital Berhad with effect from 4 November 2010.
This announcement is dated 8 November 2010.
AZRB - General Announcement
Announcement Type: General Announcement
Company Name: AHMAD ZAKI RESOURCES BERHAD
Stock Name: AZRB
Date Announced: 08/11/2010
Announcement Detail:
Type: Announcement
Subject: AHMAD ZAKI RESOURCES BERHAD ("AZRB" OR "THE COMPANY")
- PROPOSED DISPOSAL OF 21.26% EQUITY INTEREST IN EASTERN PACIFIC INDUSTRIAL CORPORATION BERHAD ("EPIC") COMPRISING 35,970,000 ORDINARY SHARES OF RM1.00 EACH TO LEMBAGA TABUNG AMANAH WARISAN NEGERI TERENGGANU ("LTAW") FOR A TOTAL CASH CONSIDERATION OF RM111.5 MILLION
Contents: 1. INTRODUCTION
The Board of Directors of AZRB wishes to announce the proposed disposal of 21.26% equity interest in EPIC comprising 35,970,000 ordinary shares of RM1.00 each to LTAW for a total cash consideration of RM111.5 million ("Proposed Disposal").
2. DETAILS OF THE PROPOSED DISPOSAL
2.1. Sale Shares
On 4 November 2010, AZRB and LTAW entered into a Sale and Purchase Agreement ("SPA") for the sale and purchase of 35,970,000 ordinary shares of RM1.00 each constituting 21.26% of the total issued and paid-up share capital of EPIC ("Sale Shares").
2.2. The Disposal Consideration
The Disposal Consideration was arrived at on a "willing-buyer willing-seller" basis after taking into consideration, inter alia, EPIC's profit after tax and net assets of approximately RM48.9 million and RM338.1 million respectively for the financial year ended 31 December 2009 and the prospects of EPIC.
2.3. Information on EPIC
EPIC is a public company incorporated in Malaysia and listed on Bursa Malaysia Securities Berhad with an authorised share capital of RM1 billion divided into 1 billion ordinary shares of RM1.00 each of which 169,399,400 ordinary shares of RM1.00 have been issued and are fully paid. The principal activities of EPIC Group consist of managing a petroleum supply base, providing and maintaining port services and facilities, tubular threading and ancillary services, onshore and offshore minor fabrication and maintenance services, environmental management and providing information communication technology services.
2.4. Gain on disposal of investment
The Proposed Disposal will result in an estimated gain on disposal of approximately RM11.5 million at Group level based on the financial results as at 30 June 2010.
2.5. Proposed utilisation of the Disposal Proceeds
The proceeds arising from the Proposed Disposal will be utilised to repay borrowings and for working capital purposes.
3. RATIONALE FOR THE PROPOSED DISPOSAL
The Proposed Disposal provides a timely opportunity for AZRB to realise and unlock the value of its investment in EPIC. The Board of AZRB, having considered all aspects of the Proposed Disposal, is of the opinion that the Proposed Disposal is in the best interest of AZRB.
4. EFFECTS OF THE PROPOSED DISPOSAL
4.1. Issued and paid-up share capital
The Proposed Disposal will not have any effect on the share capital of AZRB.
4.2. Earnings and earnings per share ("EPS")
The Proposed Disposal is expected to result in an estimated gain of approximately RM11.5 million to AZRB for the financial year ending 31 December 2010 which translates to an increase in EPS of 4 sen.
4.3. Net Assets, Net Assets per share
On a proforma basis and based on the audited consolidated financial statements of AZRB for the financial year ended 31 December 2009, the Proposed Disposal is expected to increase the net assets of AZRB by approximately RM11.5 million which translates to an increase in Net Assets per share of approximately 4 sen per share.
4.4. Gearing
The Proposed Disposal is expected to improve the gearing of AZRB from 0.81 times to 0.52 times.
4.5. Substantial shareholdings
The Proposed Disposal will not have any effect on the substantial shareholders' shareholdings in AZRB.
5. APPROVALS REQUIRED
The Proposed Disposal is subject to approvals being obtained from the following:
(i) The shareholders of AZRB at an extraordinary general meeting to be convened; and
(ii) Any other relevant authorities and/or parties, if required.
6. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS
None of the directors and/or major shareholders of AZRB and persons connected with them have any interests, direct or indirect, in the Proposed Disposal.
7. ESTIMATED TIMEFRAME FOR THE COMPLETION OF THE PROPOSED DISPOSAL
The completion of the Proposed Disposal will be upon the said approvals in Section 5 above having been obtained.
8. PERCENTAGE RATIO APPLICABLE TO THE PROPOSED DISPOSAL PURSUANT TO PARAGRAPH 10.02(G) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("PERCENTAGE RATIO")
The highest Percentage ratio is 47.87%.
9. DEPARTURE FROM THE EQUITY GUIDELINES OF THE SECURITIES COMMISSION
("SC GUIDELINES")
The Proposed Disposal is not expected to depart from the SC Guidelines.
10. APPLICATION TO THE RELEVANT AUTHORITIES
Save as disclosed under Section 5 herein the AZRB Group is not required to seek any other authorities' approval in relation to the Proposed Disposal.
This announcement is dated 8 November 2010
Company Name: AHMAD ZAKI RESOURCES BERHAD
Stock Name: AZRB
Date Announced: 08/11/2010
Announcement Detail:
Type: Announcement
Subject: AHMAD ZAKI RESOURCES BERHAD ("AZRB" OR "THE COMPANY")
- PROPOSED DISPOSAL OF 21.26% EQUITY INTEREST IN EASTERN PACIFIC INDUSTRIAL CORPORATION BERHAD ("EPIC") COMPRISING 35,970,000 ORDINARY SHARES OF RM1.00 EACH TO LEMBAGA TABUNG AMANAH WARISAN NEGERI TERENGGANU ("LTAW") FOR A TOTAL CASH CONSIDERATION OF RM111.5 MILLION
Contents: 1. INTRODUCTION
The Board of Directors of AZRB wishes to announce the proposed disposal of 21.26% equity interest in EPIC comprising 35,970,000 ordinary shares of RM1.00 each to LTAW for a total cash consideration of RM111.5 million ("Proposed Disposal").
2. DETAILS OF THE PROPOSED DISPOSAL
2.1. Sale Shares
On 4 November 2010, AZRB and LTAW entered into a Sale and Purchase Agreement ("SPA") for the sale and purchase of 35,970,000 ordinary shares of RM1.00 each constituting 21.26% of the total issued and paid-up share capital of EPIC ("Sale Shares").
2.2. The Disposal Consideration
The Disposal Consideration was arrived at on a "willing-buyer willing-seller" basis after taking into consideration, inter alia, EPIC's profit after tax and net assets of approximately RM48.9 million and RM338.1 million respectively for the financial year ended 31 December 2009 and the prospects of EPIC.
2.3. Information on EPIC
EPIC is a public company incorporated in Malaysia and listed on Bursa Malaysia Securities Berhad with an authorised share capital of RM1 billion divided into 1 billion ordinary shares of RM1.00 each of which 169,399,400 ordinary shares of RM1.00 have been issued and are fully paid. The principal activities of EPIC Group consist of managing a petroleum supply base, providing and maintaining port services and facilities, tubular threading and ancillary services, onshore and offshore minor fabrication and maintenance services, environmental management and providing information communication technology services.
2.4. Gain on disposal of investment
The Proposed Disposal will result in an estimated gain on disposal of approximately RM11.5 million at Group level based on the financial results as at 30 June 2010.
2.5. Proposed utilisation of the Disposal Proceeds
The proceeds arising from the Proposed Disposal will be utilised to repay borrowings and for working capital purposes.
3. RATIONALE FOR THE PROPOSED DISPOSAL
The Proposed Disposal provides a timely opportunity for AZRB to realise and unlock the value of its investment in EPIC. The Board of AZRB, having considered all aspects of the Proposed Disposal, is of the opinion that the Proposed Disposal is in the best interest of AZRB.
4. EFFECTS OF THE PROPOSED DISPOSAL
4.1. Issued and paid-up share capital
The Proposed Disposal will not have any effect on the share capital of AZRB.
4.2. Earnings and earnings per share ("EPS")
The Proposed Disposal is expected to result in an estimated gain of approximately RM11.5 million to AZRB for the financial year ending 31 December 2010 which translates to an increase in EPS of 4 sen.
4.3. Net Assets, Net Assets per share
On a proforma basis and based on the audited consolidated financial statements of AZRB for the financial year ended 31 December 2009, the Proposed Disposal is expected to increase the net assets of AZRB by approximately RM11.5 million which translates to an increase in Net Assets per share of approximately 4 sen per share.
4.4. Gearing
The Proposed Disposal is expected to improve the gearing of AZRB from 0.81 times to 0.52 times.
4.5. Substantial shareholdings
The Proposed Disposal will not have any effect on the substantial shareholders' shareholdings in AZRB.
5. APPROVALS REQUIRED
The Proposed Disposal is subject to approvals being obtained from the following:
(i) The shareholders of AZRB at an extraordinary general meeting to be convened; and
(ii) Any other relevant authorities and/or parties, if required.
6. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS
None of the directors and/or major shareholders of AZRB and persons connected with them have any interests, direct or indirect, in the Proposed Disposal.
7. ESTIMATED TIMEFRAME FOR THE COMPLETION OF THE PROPOSED DISPOSAL
The completion of the Proposed Disposal will be upon the said approvals in Section 5 above having been obtained.
8. PERCENTAGE RATIO APPLICABLE TO THE PROPOSED DISPOSAL PURSUANT TO PARAGRAPH 10.02(G) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("PERCENTAGE RATIO")
The highest Percentage ratio is 47.87%.
9. DEPARTURE FROM THE EQUITY GUIDELINES OF THE SECURITIES COMMISSION
("SC GUIDELINES")
The Proposed Disposal is not expected to depart from the SC Guidelines.
10. APPLICATION TO THE RELEVANT AUTHORITIES
Save as disclosed under Section 5 herein the AZRB Group is not required to seek any other authorities' approval in relation to the Proposed Disposal.
This announcement is dated 8 November 2010
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