WILLOW - Notice of Shares Buy Back - Immediate Announcement
| Company Name | WILLOWGLEN MSC BERHAD |
| Stock Name | WILLOW |
| Date Announced | 5 May 2014 |
| Category | Notice of Shares Buy Back - Immediate Announcement |
| Reference No | CA-140505-56934 |
IRIS - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS):NON RELATED PARTY TRANSACTIONS
| Company Name | IRIS CORPORATION BERHAD (ACE Market) |
| Stock Name | IRIS |
| Date Announced | 5 May 2014 |
| Category | General Announcement |
| Reference No | IC-140505-64659 |
| Type | Announcement | |||||||||||||||||||||||||
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||
| Description | EXECUTION OF A SHAREHOLDERS AGREEMENT AMONGST IRIS CORPORATION BHD (“THE COMPANY” ) AND TWO OTHERS TO FORM A JOINT VENTURE COMPANY FOR THE PROPOSED ACQUISITION OF ASSETS IN FEATHERSTON RESOURCES LIMITED (“FRL”) FOR A TOTAL INVESTMENT AMOUNT OF AUSTRALIAN DOLLARS THIRTEEN MILLION (AUD13,000,000) EQUIVALENT TO RINGGIT MALAYSIA (RM39,372,900). | |||||||||||||||||||||||||
EXECUTION OF A SHAREHOLDERS AGREEMENT AMONGST IRIS CORPORATION BHD (“THE COMPANY” ) AND TWO OTHERS TO FORM A JOINT VENTURE COMPANY FOR THE PROPOSED ACQUISITION OF ASSETS IN FEATHERSTON RESOURCES LIMITED (“FRL”) FOR A TOTAL INVESTMENT AMOUNT OF AUSTRALIAN DOLLARS THIRTEEN MILLION (AUD13,000,000) EQUIVALENT TO RINGGIT MALAYSIA (RM39,372,900) _________________________________________________________________________________ 1. INTRODUCTION The Board of Directors of IRIS Corporation Berhad (“ICB” or “the Company”) wishes to inform that the Company had on 2nd May, 2014 entered into a Shareholders Agreement (“Agreement”) with Burleigh Nominees Limited (agent for and on behalf of Helaint Pty Ltd ATF Manolas Group Family Trust (“GMT”) and Burleigh Nominees Limited (agent for and on behalf of Asini Investment Corporation Pty ATF Plakidis Group Family Trust (“PPT”) for the formation of a New Zealand incorporated joint venture company called Plaman Resources Limited (“PRL”). The objective of PRL is to acquire out of voluntary administration the Assets (hereinafter defined) of Featherston Resources Limited (“FRL). The principal asset comprises of a Mining Permit on an area with 6 million tonnes reserves of JORC compliant black and white diatomite and an Exploration Permit with probable reserves of 50 million tonnes of diatomite (“Assets”). The deposits are located in the Central Otego region of New Zealand. The Company proposes to invest a total sum of AUD13Million in PRL. The invested sum will be utilized for the acquisition of the Assets to the amount of AUD4.8 Million (equivalent to RM14,537,700) and for all subsequent working capital funding including both operational and marketing expenses of PRL. The completion of the exercise is subject to and conditional upon the terms and conditions set out in the conditional Shareholders Agreement therein. Completion shall take place upon the acceptance of the Deed of Company Arrangement (DOCA) proposed to the Administrators for the consideration of FRL's creditors and the Assets being extended and acquired by PRL. Burleigh Nominees Limited is a nominee company incorporated in the Isle of Man having its registered place of address at Trust Burleigh Manor, Peel Road, Douglas, Isle of Man, IM1 5EP and holds the shares for and behalf of GMT and PPT respectively. 2. INFORMATION ON FEATHERSTON RESOURCES LIMITED (“FRL”) FRL went into Voluntary Administration and Receivership on December 2013. Plaman Group Pty Limited, an investment group based in Sydney, Australia with core expertise in private investments invited the Company to venture into the formation of PRL to acquire the Assets of FRL subject to and conditional upon the successful Acquisition Bid by PRL (the “Acquisition Bid”) to the amount of AUS4.8 Million pursuant to the laws and regulations of Australia and New Zealand to facilitate a successful bid for FRL. Diatomite is the fossilised remains of up to 100,000 different varieties of microscopic water-borne algae called diatoms, impregnated with silica. FRL’s diatomite deposits consists mainly of freshwater Black Diatomite, which contains up to 40% carbon (in the form of organic Fluvic and Humic acids) in addition to up to 75% plant available silica. Hence it is very suitable for agriculture as a fertilizer and soil conditioner. It has trace elements important to soil and plant health. It is used as a base to create natural and organic fertiliser that are nontoxic, remediate soils and unlock marginal land. It improves plant resistance to disease, pests. It has high plant availability compared to silica from other mineral sources. The current price of diatomite in the international market is around USD200 to USD300 per tonne based on FOB value. In Malaysia, the main application of the silica-rich diatomite will be mainly in oil palm plantations, and for rice and sugar cultivation. For oil palm in particular, it improves resistance to Ganoderma, a disease caused by fungus. Diatomite is mined via open pit quarrying and can be exported in its untreated form. On the completion of the Acquisition Bid by PRL, PRL shall have an issued and paid up capital of 1000 ordinary shares wherein the Company will have the legal and beneficial ownership of 700 shares representing 70% equity interest and the balance 30% ordinary shares will remain with GMT and PPT as Shareholders proportionately. The shareholding shall be as below:-
FRL shall pursuant to the Agreement, carry out the business of (i) exploration and development of the Reserves and analysing the feasibility of mining activity on the Reserves (ii) prospecting on the Reserve for, and mining on the Reserve, diatomite and other minerals, (iii) carrying out any primary treatment operations on the minerals extracted, (iv) carrying out mining activities (v) undertaking agricultural trials of any diatomite extracted from the Reserves and evaluating its commercial saleability, (vi) marketing the extracted minerals to buyers.
4. RATIONALE FOR THE PROPOSED ACQUISITION OF FRL's ASSETS' IRIS has the knowledge, the network and the capability to market diatomite for agricultural use and the reasons are as follows:
5. EFFECTS OF THE PROPOSED ACQUISITION The Proposed Acquisition will not have any material effect on the Company’s earnings per share, net assets per share, gearing, share capital and substantial shareholder’s shareholding and structure of ICB at year ending 31st March 2015. Upon the Agreement becoming unconditional on the success of the Acquisition Bid, Plaman Resources Limited duly incorporated in New Zealand will become the subsidiary of the ICB Group. 6. SOURCE OF FUND The Proposed Acquisition will be financed through internally generated funds and bank borrowings . 7. DIRECTORS AND MAJOR SHAREHOLDERS’INTEREST None of the directors, major shareholders, and persons connected with the directors or major shareholders of the Company or any of its other subsidiaries have any interest, direct or indirect, in this 8. APPROVAL REQUIRED The Proposed Acquisition is not subject to the approval of the shareholders of ICB. 9. DIRECTORS’ STATEMENT Having considered all aspects of the Acquisition under the Agreement, the Board of Directors of ICB is of the opinion that the formation of the joint venture company and its subscription of 70% equity interest therein is in the best interest of the ICB Group. 10. DOCUMENT FOR INSPECTION The Agreement shall be available for inspection at the registered office of ICB during office hours at Level 18, The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, and 59200 Kuala Lumpur for a period of three (3) months from the date of this announcement . 11. HIGHEST PERCENTAGE RATIO Pursuant to Chapter 10 under Rule 10.06 (1) of ACE MLR, the highest percentage ratio that is applicable to this project is 8.61% This announcement is dated 5th May 2014. | ||||||||||||||||||||||||||
MYEG - Notice of Shares Buy Back - Immediate Announcement
| Company Name | MY E.G. SERVICES BERHAD |
| Stock Name | MYEG |
| Date Announced | 5 May 2014 |
| Category | Notice of Shares Buy Back - Immediate Announcement |
| Reference No | CC-140505-343DD |
SMARTAG - Proposed Change of Company Name
| Company Name | SMARTAG SOLUTIONS BERHAD (ACE Market) |
| Stock Name | SMARTAG |
| Date Announced | 5 May 2014 |
| Category | Proposed Change of Company Name |
| Reference No | CC-140505-59752 |
| Proposed company name | SMTRACK BERHAD |
| Remarks : |
| We refer to our announcement dated 2 April 2014, the Board of Directors is pleased to announce that the Company had, on 5 May 2014 received the Certificate of Incorporation on Change of Name of Company (Form 13) dated 2 May 2014 issued by the Companies Commission of Malaysia. Pursuant to the above and in accordance with Section 23(2) of the Companies Act, 1965, the Company's name has been changed to "SMTrack Berhad" with effect from 2 May 2014. This announcement is dated 5 May 2014. |
CIMBA40 - NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
| Company Name | CIMB FTSE ASEAN 40 MALAYSIA |
| Stock Name | CIMBA40 |
| Date Announced | 5 May 2014 |
| Category | General Announcement |
| Reference No | OB-140505-63415 |
| Type | Announcement |
| Subject | NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE |
| Description | Fund: CIMB FTSE ASEAN 40 Malaysia Date: 05-May-2014 NAV per unit (RM): 1.7501 Units in circulation (units): 1,350,000.00 Management Fee (% p.a.): 0.00 Trustee Fee (% p.a.): 0.08 Index Licence Fee (% p.a.): 0.00 FTSE/ASEAN 40 Index: 11,047.47 |
CIMBC25 - NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE
| Company Name | CIMB FTSE CHINA 25 |
| Stock Name | CIMBC25 |
| Date Announced | 5 May 2014 |
| Category | General Announcement |
| Reference No | OB-140505-63341 |
| Type | Announcement |
| Subject | NET ASSET VALUE / INDICATIVE OPTIMUM PORTFOLIO VALUE |
| Description | Fund: CIMB FTSE China 25 Date: 05-May-2014 NAV per unit (RM): 0.9172 Units in circulation (units): 9,750,000.00 Management Fee (% p.a.): 0.60 Trustee Fee (% p.a.): 0.08 Index Licence Fee (% p.a.): 0.04 FTSE/Xinhua China 25 Index: 15,386.00 |
IGB - Notice of Shares Buy Back - Immediate Announcement
| Company Name | IGB CORPORATION BERHAD |
| Stock Name | IGB |
| Date Announced | 5 May 2014 |
| Category | Notice of Shares Buy Back - Immediate Announcement |
| Reference No | IC-140505-6FFB1 |
KULIM - OTHERS KULIM (MALAYSIA) BERHAD (“KULIM” OR “COMPANY”) DISPOSAL BY SINDORA BERHAD (“SINDORA”), A WHOLLY OWNED SUBSIDIARY OF KULIM OF ITS SHAREHOLDING IN GENERAL ACCESS SDN BHD (“GASB”) TO FUAD BIN DAUD (“PURCHASER”)
| Company Name | KULIM (MALAYSIA) BERHAD |
| Stock Name | KULIM |
| Date Announced | 5 May 2014 |
| Category | General Announcement |
| Reference No | JC-140505-65174 |
| Type | Announcement |
| Subject | OTHERS |
| Description | KULIM (MALAYSIA) BERHAD (“KULIM” OR “COMPANY”) DISPOSAL BY SINDORA BERHAD (“SINDORA”), A WHOLLY OWNED SUBSIDIARY OF KULIM OF ITS SHAREHOLDING IN GENERAL ACCESS SDN BHD (“GASB”) TO FUAD BIN DAUD (“PURCHASER”) |
The Board of Directors of the Company wishes to announce that Sindora, through Sindora Timber Sdn Bhd (“STSB”), its 82%-owned subsidiary, had on 30 April 2014 completed the disposal of 158,828 ordinary shares in GASB, representing 87.75% shareholding of STSB in GASB, to the Purchaser for total cash consideration of RM207,123 (“The Disposal”). The Disposal consequently results in GASB ceasing to become a subsidiary of STSB. GASB is a company incorporated in Malaysia. The principal activities of GASB are field clearing, earthwork, road construction and resurfacing services. The Disposal will not have any material effect on the earnings or net assets of Kulim for the year ending 31 December 2014. None of the directors or substantial shareholders of Kulim or persons connected to them has any interest, direct or indirect, in the Disposal. The Disposal is expected to result in a gain on disposal to Kulim Group of RM523,637. This announcement is dated 5 May 2014. | |
IJMPLNT - Changes in Sub. S-hldr's Int. (29B) - Employees Provident Fund Board
| Company Name | IJM PLANTATIONS BERHAD |
| Stock Name | IJMPLNT |
| Date Announced | 5 May 2014 |
| Category | Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965 |
| Reference No | IP-140505-38FEF |
Particulars of substantial Securities Holder
| Name | Employees Provident Fund Board |
| Address | Tingkat 19, Bangunan KWSP, Jalan Raja Laut, 50350 Kuala Lumpur |
| NRIC/Passport No/Company No. | Not Applicable |
| Nationality/Country of incorporation | Malaysia |
| Descriptions (Class & nominal value) | Ordinary Shares of RM0.50 Each |
| Name & address of registered holder | Citigroup Nominees (Tempatan) Sdn Bhd, Level 42, Menara Citibank, 165 Jalan Ampang, 50450 Kuala Lumpur |
Details of changes
Currency: Malaysian Ringgit (MYR)
| Type of transaction | Date of change | No of securities | Price Transacted (RM) |
| Acquired | 29/04/2014 | 95,200 |
| Remarks : |
| Re : Form 29B dated 29 April 2014. |
IJMPLNT - MONTHLY PRODUCTION FIGURES (MINING / PLANTATION / TIMBER)
| Company Name | IJM PLANTATIONS BERHAD |
| Stock Name | IJMPLNT |
| Date Announced | 5 May 2014 |
| Category | General Announcement |
| Reference No | IP-140505-03EE5 |
| Type | Announcement | |||||||||||||||||||||||
| Subject | MONTHLY PRODUCTION FIGURES (MINING / PLANTATION / TIMBER) | |||||||||||||||||||||||
| Description | The production figures of the Group for the month of April 2014 are as follows:- | |||||||||||||||||||||||
Fresh Fruit Bunches ("FFB") (MT) Crude Palm Oil Palm Kernel FFB (Internal) FFB (External) Total FFB (MT) (MT) (MT) April 2014 70,697 33,250 103,947 21,508 4,618 Total 70,697 33,250 103,947 21,508 4,618
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