IE - General Announcement
Announcement Type: General Announcement
Company Name: INTELLIGENT EDGE TECHNOLOGIES BERHAD (ACE Market)
Stock Name: IE
Date Announced: 01/12/2010
Announcement Detail:
Regularisation Sponsor: M&A Securities Sdn Bhd
Sponsor: Same as above
Type: Announcement
Subject: INTELLIGENT EDGE TECHNOLOGIES BERHAD ("IE" OR "COMPANY")
- MONTHLY ANNOUNCEMENT ON THE STATUS OF THE COMPANY'S PLAN TO COMPLY WITH THE OBLIGATION TO REGULARISE ITS CONDITION PURSUANT TO GUIDANCE NOTE 3 OF THE LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD FOR THE ACE MARKET
Contents: Reference is made to the First Announcement made by the Company on 28 April 2010 and the monthly announcements made on 4 May 2010, 1 June 2010, 1 July 2010, 3 August 2010, 1 September 2010, 1 October 2010 and 1 November 2010 in compliance with Rule 4.1(b) of Guidance Note 3 of the Listing Requirements of Bursa Malaysia Securities Berhad for the ACE Market. The Board of Directors of IE wishes to inform that the Company is still in the midst of evaluating various options in its endeavour to formulate a plan to regularise the Company's financial condition ("Regularisation Plan").
Premised on the First Announcement and the monthly announcements, the last day for submission of the Regularisation Plan by the Company to the relevant authorities would be by 27 April 2011, which is approximately 5 months from the date thereof.
This announcement is dated 1 December 2010.
Company Name: INTELLIGENT EDGE TECHNOLOGIES BERHAD (ACE Market)
Stock Name: IE
Date Announced: 01/12/2010
Announcement Detail:
Regularisation Sponsor: M&A Securities Sdn Bhd
Sponsor: Same as above
Type: Announcement
Subject: INTELLIGENT EDGE TECHNOLOGIES BERHAD ("IE" OR "COMPANY")
- MONTHLY ANNOUNCEMENT ON THE STATUS OF THE COMPANY'S PLAN TO COMPLY WITH THE OBLIGATION TO REGULARISE ITS CONDITION PURSUANT TO GUIDANCE NOTE 3 OF THE LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD FOR THE ACE MARKET
Contents: Reference is made to the First Announcement made by the Company on 28 April 2010 and the monthly announcements made on 4 May 2010, 1 June 2010, 1 July 2010, 3 August 2010, 1 September 2010, 1 October 2010 and 1 November 2010 in compliance with Rule 4.1(b) of Guidance Note 3 of the Listing Requirements of Bursa Malaysia Securities Berhad for the ACE Market. The Board of Directors of IE wishes to inform that the Company is still in the midst of evaluating various options in its endeavour to formulate a plan to regularise the Company's financial condition ("Regularisation Plan").
Premised on the First Announcement and the monthly announcements, the last day for submission of the Regularisation Plan by the Company to the relevant authorities would be by 27 April 2011, which is approximately 5 months from the date thereof.
This announcement is dated 1 December 2010.
IRIS - General Announcement
Announcement Type: General Announcement
Company Name: IRIS CORPORATION BERHAD (ACE Market)
Stock Name: IRIS
Date Announced: 01/12/2010
Announcement Detail:
Type: Announcement
Subject: IRIS CORPORATION BERHAD("ICB" OR "THE COMPANY")
UPDATE ON THE LITIGATION IN TURKEY BETWEEN IRIS TECHNOLOGIES (M) SDN. BHD. , A WHOLLY OWNED SUBSIDIARY OF ICB, ITS JOINT VENTURE PARTNER KUNT ELEKTRONIK SAN.VE.TIC.A.S AND THE TURKISH INTERIOR MINISTRY,GENERAL DIRECTORATE OF SECURITY (KNOWN AS "EGM").
Contents: This announcement is a follow-up to the announcement made on the 27th September 2010.
The JV Company's appointed lawyers Messrs Sen & Arpaci submitted evidences substantiating grounds for the rebuttal of EGM's claims to the Ankara Court yesterday ( 30 November 2010).
The Ankara Court has now fixed 8 February 2011 to hear the matter. The Ankara Court also gave EGM twenty (20) days to submit its evidences in response to the evidences of the JV Company if any.
This announcement is dated 1 December 2010.
Company Name: IRIS CORPORATION BERHAD (ACE Market)
Stock Name: IRIS
Date Announced: 01/12/2010
Announcement Detail:
Type: Announcement
Subject: IRIS CORPORATION BERHAD("ICB" OR "THE COMPANY")
UPDATE ON THE LITIGATION IN TURKEY BETWEEN IRIS TECHNOLOGIES (M) SDN. BHD. , A WHOLLY OWNED SUBSIDIARY OF ICB, ITS JOINT VENTURE PARTNER KUNT ELEKTRONIK SAN.VE.TIC.A.S AND THE TURKISH INTERIOR MINISTRY,GENERAL DIRECTORATE OF SECURITY (KNOWN AS "EGM").
Contents: This announcement is a follow-up to the announcement made on the 27th September 2010.
The JV Company's appointed lawyers Messrs Sen & Arpaci submitted evidences substantiating grounds for the rebuttal of EGM's claims to the Ankara Court yesterday ( 30 November 2010).
The Ankara Court has now fixed 8 February 2011 to hear the matter. The Ankara Court also gave EGM twenty (20) days to submit its evidences in response to the evidences of the JV Company if any.
This announcement is dated 1 December 2010.
OMEDIA - ORIENTED MEDIA GROUP BERHAD ("the Company") Notice of Tenth Annual General Meeting
Announcement Type: General Announcement
Company Name: ORIENTED MEDIA GROUP BERHAD (ACE Market)
Stock Name: OMEDIA
Date Announced: 01/12/2010
Announcement Detail:
Type: Announcement
Subject: ORIENTED MEDIA GROUP BERHAD ("the Company")
Notice of Tenth Annual General Meeting
Contents: Kindly be informed that the Tenth Annual General Meeting of the Company will be held at Dewan Berjaya, Bukit Kiara Equestrian & Country Club, Jalan Bukit Kiara, Off Jalan Damansara, 60000 Kuala Lumpur on Friday, 24 December 2010 at 9.00 a.m.
The Notice of Annual General Meeting is attached for your attention.
This announcement is dated 1 December 2010.
Attachments: Notice.pdf
Company Name: ORIENTED MEDIA GROUP BERHAD (ACE Market)
Stock Name: OMEDIA
Date Announced: 01/12/2010
Announcement Detail:
Type: Announcement
Subject: ORIENTED MEDIA GROUP BERHAD ("the Company")
Notice of Tenth Annual General Meeting
Contents: Kindly be informed that the Tenth Annual General Meeting of the Company will be held at Dewan Berjaya, Bukit Kiara Equestrian & Country Club, Jalan Bukit Kiara, Off Jalan Damansara, 60000 Kuala Lumpur on Friday, 24 December 2010 at 9.00 a.m.
The Notice of Annual General Meeting is attached for your attention.
This announcement is dated 1 December 2010.
Attachments: Notice.pdf
VIZTEL - General Announcement
Announcement Type: General Announcement
Company Name: VIZTEL SOLUTIONS BERHAD (ACE Market)
Stock Name: VIZTEL
Date Announced: 01/12/2010
Announcement Detail:
Regularisation Sponsor: M&A Securities Sdn Bhd
Sponsor: Same as above
Type: Announcement
Subject: VIZTEL SOLUTIONS BERHAD ("VIZTEL" OR "THE COMPANY")
MONTHLY ANNOUNCEMENT ON THE STATUS OF PLAN TO REGULARIZE FINANCIAL CONDITION PURSUANT TO GUIDANCE NOTE 3 OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") FOR THE ACE MARKET ("GN3") ("MONTHLY ANNOUNCEMENT")
Contents: The Board of Viztel wishes to announce that there are no further developments to the regularization plan of the Company save for those which have been previously announced.
The regularization plan by the Company to the Approving Authorities has been submitted on 8 June 2010.
This announcement is dated 1 December 2010.
Company Name: VIZTEL SOLUTIONS BERHAD (ACE Market)
Stock Name: VIZTEL
Date Announced: 01/12/2010
Announcement Detail:
Regularisation Sponsor: M&A Securities Sdn Bhd
Sponsor: Same as above
Type: Announcement
Subject: VIZTEL SOLUTIONS BERHAD ("VIZTEL" OR "THE COMPANY")
MONTHLY ANNOUNCEMENT ON THE STATUS OF PLAN TO REGULARIZE FINANCIAL CONDITION PURSUANT TO GUIDANCE NOTE 3 OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") FOR THE ACE MARKET ("GN3") ("MONTHLY ANNOUNCEMENT")
Contents: The Board of Viztel wishes to announce that there are no further developments to the regularization plan of the Company save for those which have been previously announced.
The regularization plan by the Company to the Approving Authorities has been submitted on 8 June 2010.
This announcement is dated 1 December 2010.
FONICS - General Announcement
Announcement Type: General Announcement
Company Name: FOTRONICS CORPORATION BERHAD (ACE Market)
Stock Name: FONICS
Date Announced: 01/12/2010
Announcement Detail:
Regularisation Sponsor: M&A Securities Sdn Bhd
Sponsor: Same as above
Type: Announcement
Subject: FOTRONICS CORPORATION BERHAD ("FONICS" or "the Company")
- MONTHLY ANNOUNCEMENT ON THE STATUS OF PLAN TO REGULARISE FINANCIAL CONDITION PURSUANT TO GUIDANCE NOTE 3 OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") FOR THE ACE MARKET ("GN3") ("MONTHLY ANNOUNCEMENT")
Contents: Reference is made to the Monthly Announcement dated 1 November 2010. The Board of Directors of FONICS wishes to announce that there are no further developments to the regularization plan of the Company save for those which have been previously announced.
The last day for submission of the regularization plan by the Company to the Approving Authority (and to obtain their approval) is on 8 March 2011, which is approximately three (3) months from the date of this announcement.
This announcement is dated 1 December 2010.
Company Name: FOTRONICS CORPORATION BERHAD (ACE Market)
Stock Name: FONICS
Date Announced: 01/12/2010
Announcement Detail:
Regularisation Sponsor: M&A Securities Sdn Bhd
Sponsor: Same as above
Type: Announcement
Subject: FOTRONICS CORPORATION BERHAD ("FONICS" or "the Company")
- MONTHLY ANNOUNCEMENT ON THE STATUS OF PLAN TO REGULARISE FINANCIAL CONDITION PURSUANT TO GUIDANCE NOTE 3 OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") FOR THE ACE MARKET ("GN3") ("MONTHLY ANNOUNCEMENT")
Contents: Reference is made to the Monthly Announcement dated 1 November 2010. The Board of Directors of FONICS wishes to announce that there are no further developments to the regularization plan of the Company save for those which have been previously announced.
The last day for submission of the regularization plan by the Company to the Approving Authority (and to obtain their approval) is on 8 March 2011, which is approximately three (3) months from the date of this announcement.
This announcement is dated 1 December 2010.
CAROTEC - General Announcement
Announcement Type: General Announcement
Company Name: CAROTECH BERHAD (ACE Market)
Stock Name: CAROTEC
Date Announced: 01/12/2010
Announcement Detail:
Type: Announcement
Subject: CAROTECH BERHAD ("CAROTECH" OR "THE COMPANY")
Monthly Update on the status of the Company's plan to comply with the obligation to regularise its condition pursuant to Guidance Note 3 ("GN3") of the Bursa Malaysia Securities Berhad ACE Market Listing Requirements
Contents: Reference is made to the First Announcement made by the Company on 29 October 2010 in compliance with Rule 4.1(b) of GN3 of the Bursa Malaysia Securities Berhad ACE Market Listing Requirements. The Board of Dierctors of Carotech wishes to inform that the Company is still in the midst of evaluating various options in its endeavour to formulate a plan to regularise the Company's financial condition ("Regularisation Plan").
Premised on the First Announcement, the last day for submission of the Regularisation Plan by the Company to the relevant authorities would be by 28 October 2011, which is approximately 11 months from the date hereof.
(This announcement is dated 1 December 2010.)
Company Name: CAROTECH BERHAD (ACE Market)
Stock Name: CAROTEC
Date Announced: 01/12/2010
Announcement Detail:
Type: Announcement
Subject: CAROTECH BERHAD ("CAROTECH" OR "THE COMPANY")
Monthly Update on the status of the Company's plan to comply with the obligation to regularise its condition pursuant to Guidance Note 3 ("GN3") of the Bursa Malaysia Securities Berhad ACE Market Listing Requirements
Contents: Reference is made to the First Announcement made by the Company on 29 October 2010 in compliance with Rule 4.1(b) of GN3 of the Bursa Malaysia Securities Berhad ACE Market Listing Requirements. The Board of Dierctors of Carotech wishes to inform that the Company is still in the midst of evaluating various options in its endeavour to formulate a plan to regularise the Company's financial condition ("Regularisation Plan").
Premised on the First Announcement, the last day for submission of the Regularisation Plan by the Company to the relevant authorities would be by 28 October 2011, which is approximately 11 months from the date hereof.
(This announcement is dated 1 December 2010.)
CAROTEC - General Announcement
Announcement Type: General Announcement
Company Name: CAROTECH BERHAD (ACE Market)
Stock Name: CAROTEC
Date Announced: 01/12/2010
Announcement Detail:
Type: Announcement
Subject: CAROTECH BERHAD ("CAROTECH" OR "THE COMPANY")
Monthly Update on the status of its Default Payment pursuant to Guidance Note 5 ("GN5") of the Bursa Malaysia Securities Berhad ACE Market Listing Requirements
Contents: We refer to our announcements dated 1 July 2010, 2 August 2010, 1 September 2010, 1 October 2010 and 1 November 2010.
Pursuant to Paragraph 3.2(a) of GN5, the Board of Directors of Carotech wishes to announce that there has been no material development on the status of the proposed debt restructuring scheme ("the proposed scheme") since the announcement made on 1 November 2010. The financial lenders are still reviewing and considering the proposed scheme.
(This announcement is dated 1 December 2010.)
Company Name: CAROTECH BERHAD (ACE Market)
Stock Name: CAROTEC
Date Announced: 01/12/2010
Announcement Detail:
Type: Announcement
Subject: CAROTECH BERHAD ("CAROTECH" OR "THE COMPANY")
Monthly Update on the status of its Default Payment pursuant to Guidance Note 5 ("GN5") of the Bursa Malaysia Securities Berhad ACE Market Listing Requirements
Contents: We refer to our announcements dated 1 July 2010, 2 August 2010, 1 September 2010, 1 October 2010 and 1 November 2010.
Pursuant to Paragraph 3.2(a) of GN5, the Board of Directors of Carotech wishes to announce that there has been no material development on the status of the proposed debt restructuring scheme ("the proposed scheme") since the announcement made on 1 November 2010. The financial lenders are still reviewing and considering the proposed scheme.
(This announcement is dated 1 December 2010.)
CONNECT - General Announcement
Announcement Type: General Announcement
Company Name: CONNECTCOUNTY HOLDINGS BERHAD (ACE Market)
Stock Name: CONNECT
Date Announced: 01/12/2010
Announcement Detail:
Regularisation Sponsor: M&A Securities Sdn Bhd
Sponsor: Same as above
Type: Announcement
Subject: CONNECTCOUNTY HOLDINGS BERHAD ("CCHB" or the "Company") - Monthly announcement on the plan to regularise its condition pursuant to Guidance Note 3 of the Listing Requirements of Bursa Malaysia Securities Berhad for the ACE Market ("GN3") ("Monthly Announcement")
Contents: (For consistency purposes, the abbreviations used throughout this announcement shall have the same meaning as previously defined in the announcements made by the Company on 26 February 2009 ("First Announcement"), 2 March 2009, 1 April 2009, 4 May 2009, 1 June 2009, 1 July 2009, 3 August 2009, 1 September 2009, 1 October 2009, 2 November 2009, 7 December 2009, 4 January 2010, 2 February 2010, 1 March 2010, 1 April 2010, 30 April 2010, 1 June 2010, 1 July 2010, 2 August 2010, 1 September 2010, 1 October 2010 and 1 November 2010 respectively (collectively referred to as "Announcements")).
As previously announced on the 23 July 2010, 2 August 2010, 1 October 2010 and 1 November 2010 respectively, the Board of Directors of CCHB wishes to inform that the Company has on 23 July 2010 submitted its Regularization Plan to the Approving Authorities and will make further announcements on the outcome of its submission.
This announcement is dated 1 December 2010.
Company Name: CONNECTCOUNTY HOLDINGS BERHAD (ACE Market)
Stock Name: CONNECT
Date Announced: 01/12/2010
Announcement Detail:
Regularisation Sponsor: M&A Securities Sdn Bhd
Sponsor: Same as above
Type: Announcement
Subject: CONNECTCOUNTY HOLDINGS BERHAD ("CCHB" or the "Company") - Monthly announcement on the plan to regularise its condition pursuant to Guidance Note 3 of the Listing Requirements of Bursa Malaysia Securities Berhad for the ACE Market ("GN3") ("Monthly Announcement")
Contents: (For consistency purposes, the abbreviations used throughout this announcement shall have the same meaning as previously defined in the announcements made by the Company on 26 February 2009 ("First Announcement"), 2 March 2009, 1 April 2009, 4 May 2009, 1 June 2009, 1 July 2009, 3 August 2009, 1 September 2009, 1 October 2009, 2 November 2009, 7 December 2009, 4 January 2010, 2 February 2010, 1 March 2010, 1 April 2010, 30 April 2010, 1 June 2010, 1 July 2010, 2 August 2010, 1 September 2010, 1 October 2010 and 1 November 2010 respectively (collectively referred to as "Announcements")).
As previously announced on the 23 July 2010, 2 August 2010, 1 October 2010 and 1 November 2010 respectively, the Board of Directors of CCHB wishes to inform that the Company has on 23 July 2010 submitted its Regularization Plan to the Approving Authorities and will make further announcements on the outcome of its submission.
This announcement is dated 1 December 2010.
EDUSPEC - General Announcement
Announcement Type: General Announcement
Company Name: EDUSPEC HOLDINGS BERHAD (ACE Market)
Stock Name: EDUSPEC
Date Announced: 01/12/2010
Announcement Detail:
Regularisation Sponsor: AmInvestment Bank Bhd
Sponsor: Same as above
Type: Announcement
Subject: TEAMING AGREEMENT ON DYNAMICE AND 21ST CENTURY SKILLS IN EDUCATION BETWEEN LITESPEED EDUCATION PTE. LTD. AND EDUCARE CO-OPERATIVE LIMITED
Contents: The Board of Directors of EDUSPEC HOLDINGS BERHAD (formerly known as Litespeed Education Technologies Berhad) ("the Company") is pleased to announce that Litespeed Education Pte. Ltd. ("LES"), a wholly owned subsidiary of the Company had on 30 November 2010 signed a Teaming Agreement on DynaMice and 21st Century Skills Education ("Teaming Agreement") with Educare Co-operative Limited ("Educare").
DynaMice is a new product/solution allowing up to 40 students in a classroom to interact with the lesson delivered by the teacher via personal computers and projector using wireless mouse. Besides being a student response system which allows real time evaluation via multiple choice questions, it also possess other features such as drawing, matching, drag and drop, and fill in the blanks.
21st century learning is the new pedagogy in education which focused on creativity, critical thinking and collaborative learning rather than mere route learning.
1) INFORMATION ON LES
LES is a Company incorporated in the Republic of Singapore having its registered address at No. 120, Lower Delta Road, Cendex Centre, #05-06/07/08, Singapore 169208.
LES is principally engaged in the business of provision of online education portals to schools in Singapore, to enable students' and teachers' access to e-learning tools and content for teaching, learning and collaboration.
2)INFORMATION ON EDUCARE
Educare is a society registered under the Societies act in republic of Singapore with its registered address at No. 72, Keng Lee Road, Level 2, Singapore 219248.
Educare is a co-operative of the Singapore Teachers' Union (STU), which has served teachers and the teaching profession in Singapore for over sixty years. Educare is principally enaged in the business of providing manpower and other education services to schools in Singapore.
3) SALIENT INFORMATION ON THE TEAMING AGREEMENT
3.1. Pursuant to a need by the Ministry of Education of Singapore ("MOE") to develop school teachers' expertise in Collaborative learning, Creative and Critical Thinking ("C3") in accordance to MOE master plan three, LES and Educare mutually agreed to team up for the development of relevant pedagogy and training workshop, namely 21st Century Skills in Education ("Project") that will position DDynaMice as the primary ICT enabler for classroom teaching and learning for teachers and schools.
3.2. The Project will consist of a Premier Course and a three-tiered Certification courase which will be certified by Microsoft and Asia Pacific Teachers Leadership Institute.
3.3. The mutually agreed business model will be 70:30 (Educare: LES) ratio of profit sharing and revenue sharing model respectively in relation to DynaMice deployment in schools and training workshops.
3.4. LES and Educare are entering the Teaming Agreement to record their mutual understanding in working as a team to achieve their mutual objectives in respect to roll out of DynaMice and the Project in schools in Singapore.
4) FINANCIAL EFFECTS
4.1 Issued and Paid-Up Capital and Substantial Shareholders' Shareholdings
The Teaming Agreement will not have any effect on the issued and paid-up share capital and substantial shareholders' shareholdings of the Company.
4.2 Net Assets
The Teaming Agreement will not have any material effect on the net assets of the Eduspec Group for the financial year ending 30 September 2011.
4.3 Earnings
The Teaming Agreement will contribute positively to the future earnings of the Eduspec Group.
4.4 Gearing
The Teaming Agreement is not expected to have any material effect on the gearing of the Eduspec Group.
5) APPROVALS REQUIRED
The Teaming Agreement is not subject to the approval of the shareholders of the Company or any regulatory authorities.
6) DIRECTORS, SUBSTANTIAL SHAREHOLDERS AND/OR PERSONS CONNECTED
None of the directors and/or substantial shareholders and/or persons connected to the directors or substantial shareholders of the Group have any interest, whether directly or indirectly, in the Teaming Agreement.
7) STATEMENT BY DIRECTORS
The Board is of the opinion that the teaming Agreement is in the best interest of the Company.
This announcement is dated 1 December 2010.
Company Name: EDUSPEC HOLDINGS BERHAD (ACE Market)
Stock Name: EDUSPEC
Date Announced: 01/12/2010
Announcement Detail:
Regularisation Sponsor: AmInvestment Bank Bhd
Sponsor: Same as above
Type: Announcement
Subject: TEAMING AGREEMENT ON DYNAMICE AND 21ST CENTURY SKILLS IN EDUCATION BETWEEN LITESPEED EDUCATION PTE. LTD. AND EDUCARE CO-OPERATIVE LIMITED
Contents: The Board of Directors of EDUSPEC HOLDINGS BERHAD (formerly known as Litespeed Education Technologies Berhad) ("the Company") is pleased to announce that Litespeed Education Pte. Ltd. ("LES"), a wholly owned subsidiary of the Company had on 30 November 2010 signed a Teaming Agreement on DynaMice and 21st Century Skills Education ("Teaming Agreement") with Educare Co-operative Limited ("Educare").
DynaMice is a new product/solution allowing up to 40 students in a classroom to interact with the lesson delivered by the teacher via personal computers and projector using wireless mouse. Besides being a student response system which allows real time evaluation via multiple choice questions, it also possess other features such as drawing, matching, drag and drop, and fill in the blanks.
21st century learning is the new pedagogy in education which focused on creativity, critical thinking and collaborative learning rather than mere route learning.
1) INFORMATION ON LES
LES is a Company incorporated in the Republic of Singapore having its registered address at No. 120, Lower Delta Road, Cendex Centre, #05-06/07/08, Singapore 169208.
LES is principally engaged in the business of provision of online education portals to schools in Singapore, to enable students' and teachers' access to e-learning tools and content for teaching, learning and collaboration.
2)INFORMATION ON EDUCARE
Educare is a society registered under the Societies act in republic of Singapore with its registered address at No. 72, Keng Lee Road, Level 2, Singapore 219248.
Educare is a co-operative of the Singapore Teachers' Union (STU), which has served teachers and the teaching profession in Singapore for over sixty years. Educare is principally enaged in the business of providing manpower and other education services to schools in Singapore.
3) SALIENT INFORMATION ON THE TEAMING AGREEMENT
3.1. Pursuant to a need by the Ministry of Education of Singapore ("MOE") to develop school teachers' expertise in Collaborative learning, Creative and Critical Thinking ("C3") in accordance to MOE master plan three, LES and Educare mutually agreed to team up for the development of relevant pedagogy and training workshop, namely 21st Century Skills in Education ("Project") that will position DDynaMice as the primary ICT enabler for classroom teaching and learning for teachers and schools.
3.2. The Project will consist of a Premier Course and a three-tiered Certification courase which will be certified by Microsoft and Asia Pacific Teachers Leadership Institute.
3.3. The mutually agreed business model will be 70:30 (Educare: LES) ratio of profit sharing and revenue sharing model respectively in relation to DynaMice deployment in schools and training workshops.
3.4. LES and Educare are entering the Teaming Agreement to record their mutual understanding in working as a team to achieve their mutual objectives in respect to roll out of DynaMice and the Project in schools in Singapore.
4) FINANCIAL EFFECTS
4.1 Issued and Paid-Up Capital and Substantial Shareholders' Shareholdings
The Teaming Agreement will not have any effect on the issued and paid-up share capital and substantial shareholders' shareholdings of the Company.
4.2 Net Assets
The Teaming Agreement will not have any material effect on the net assets of the Eduspec Group for the financial year ending 30 September 2011.
4.3 Earnings
The Teaming Agreement will contribute positively to the future earnings of the Eduspec Group.
4.4 Gearing
The Teaming Agreement is not expected to have any material effect on the gearing of the Eduspec Group.
5) APPROVALS REQUIRED
The Teaming Agreement is not subject to the approval of the shareholders of the Company or any regulatory authorities.
6) DIRECTORS, SUBSTANTIAL SHAREHOLDERS AND/OR PERSONS CONNECTED
None of the directors and/or substantial shareholders and/or persons connected to the directors or substantial shareholders of the Group have any interest, whether directly or indirectly, in the Teaming Agreement.
7) STATEMENT BY DIRECTORS
The Board is of the opinion that the teaming Agreement is in the best interest of the Company.
This announcement is dated 1 December 2010.
KZEN - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: OSK INVESTMENT BANK BERHAD
Company Name: KZEN SOLUTIONS BERHAD (ACE Market)
Stock Name: KZEN
Date Announced: 01/12/2010
Announcement Detail:
Type: Announcement
Subject: KZEN SOLUTIONS BERHAD ("KZEN" OR THE "COMPANY")
PROPOSED ACQUISITION;
PROPOSED EXEMPTION;
PROPOSED OFFER FOR SALE;
PROPOSED PRIVATE PLACEMENT;
PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL;
PROPOSED CHANGE OF NAME; AND
PROPOSED AMENDMENTS
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
Contents: Further to the announcement dated 29 November 2010, OSK Investment Bank Berhad, on behalf of the Board of Directors of Kzen, is pleased to announce that the application in relation to the Proposals (save for the Proposed Exemption, which would be submitting to the Securities Commission in due course) has been submitted to Bursa Malaysia Securities Berhad.
This announcement is dated 1 December 2010.
Submitting Merchant Bank: OSK INVESTMENT BANK BERHAD
Company Name: KZEN SOLUTIONS BERHAD (ACE Market)
Stock Name: KZEN
Date Announced: 01/12/2010
Announcement Detail:
Type: Announcement
Subject: KZEN SOLUTIONS BERHAD ("KZEN" OR THE "COMPANY")
PROPOSED ACQUISITION;
PROPOSED EXEMPTION;
PROPOSED OFFER FOR SALE;
PROPOSED PRIVATE PLACEMENT;
PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL;
PROPOSED CHANGE OF NAME; AND
PROPOSED AMENDMENTS
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
Contents: Further to the announcement dated 29 November 2010, OSK Investment Bank Berhad, on behalf of the Board of Directors of Kzen, is pleased to announce that the application in relation to the Proposals (save for the Proposed Exemption, which would be submitting to the Securities Commission in due course) has been submitted to Bursa Malaysia Securities Berhad.
This announcement is dated 1 December 2010.
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