ANCOMLB - Annual Audited Accounts - 31 May 2014
| Company Name | ANCOM LOGISTICS BERHAD (ACE Market) |
| Stock Name | ANCOMLB |
| Date Announced | 29 Sept 2014 |
| Category | PDF Submission |
| Reference No | AL-140929-57745 |
| Subject | Annual Audited Accounts - 31 May 2014 |
CONNECT - OTHERS CONNECTCOUNTY HOLDINGS BERHAD (“CCHB” OR “THE COMPANY”) - AGREEMENT FOR SALE AND PURCHASE OF REDEEMABLE CONVERTIBLE PREFERENCE SHARES
| Company Name | CONNECTCOUNTY HOLDINGS BERHAD (ACE Market) |
| Stock Name | CONNECT |
| Date Announced | 29 Sept 2014 |
| Category | General Announcement |
| Reference No | C&-140925-BEA20 |
| Regularisation Sponsor | M&A Securities Sdn Bhd |
| Sponsor | Same as above |
| Type | Announcement |
| Subject | OTHERS |
| Description | CONNECTCOUNTY HOLDINGS BERHAD (“CCHB” OR “THE COMPANY”) - AGREEMENT FOR SALE AND PURCHASE OF REDEEMABLE CONVERTIBLE PREFERENCE SHARES |
1. Introduction The Board of Directors of CCHB wishes to announce that the Company had on 26 September 2014 signed an Agreement for Sale and Purchase of Redeemable Convertible Preference Shares with Mr Tan See Kuy and MyGenBizz Berhad (“MGB”) for the sale of 900,000 redeemable convertible preference shares of RM1.00 each in MGB currently held by the Company (“Sale Shares”) to Mr Tan See Kuy for a total Consideration of RM900,000, subject to the terms and conditions that have been agreed upon between all parties. Post-completion of the Agreement, Mr Tan See Kuy will convert all his 900,000 redeemable convertible preference shares in MGB into 900,000 ordinary shares of RM1.00 each of MGB. The Company will convert all its remaining 500,000 redeemable convertible preference shares in MGB to 500,000 ordinary shares of RM1.00 each of MGB. Mr Tan See Kuy is the current CEO of MGB and holding 35% of MGB. Upon completion of the preference share conversion, the Company’s stake in MGB will be 551,000 ordinary shares representing approximately 36.73% and MGB will cease to be the subsidiary of the Company but remain as an associated company of the Company. 2. Information on MGB MGB was incorporated on 6 January 2014 under the Companies Act, 1965. The Company has an authorised share capital of Ringgit Malaysia Five Million (RM5,000,000.00) divided into Three Million (3,000,000) ordinary shares of RM1.00 each only and Two Million (2,000,000) redeemable convertible preference shares of RM1.00 each of which One Hundred Thousand (100,000) ordinary shares of RM1.00 each have been issued and fully paid or credited as fully paid and One Million Four Hundred Thousand (1,400,000) redeemable convertible preference shares of RM1.00 each have been issued and fully paid or credited as fully paid. Current shareholders of MGB are ConnectCounty Holdings Berhad (51%), Tan See Kuy (35%) and Liew Jenn Lim (14%) and current directors of MGB are Tan See Kuy and Khalid Bin Ahmad Husni. The principal activities of MGB are mainly to carry on the businesses of direct selling marketing, multi-level marketing, distributor of and dealer of goods and merchandise. GenBizz Inc (USA) has granted MGB with the exclusive marketing rights to market MyBrandApp, a personal mobile application software, in Malaysia. The personal mobile application runs on both the Android and IOS platform and can be downloaded via Google play store. 3. The Basis of Arriving at the Sales Consideration The Sales Consideration was arrived at after arm’s length negotiations between the parties after taking into consideration of various factors in particular: a. The redeemable convertible preference shares was originally acquired at RM1.00 per shares; b. The unaudited accounts of MGB for the 6 months period as at 30 June 2014 shows a loss after taxation of RM480,291.00; c. Outstanding owings to MGB of RM900,000.00; The Sales Proceeds shall be satisfied by way of the novation of all the liabilities, obligations, duties, rights, title, benefits, interests, covenants and undertaking of a similar amount owing by the Company (“Amount Owing”) to MBG to Tan See Kuy and by way of the assumption by Tan See Kuy of all the liabilities, obligations, duties, rights, title, benefits, interests, covenants and undertakings of the Amount Owing by the Company to MBG 4. Rationale So far MGB has not been able to perform according to its plans. The Directors understand that MGB is rather new and much more time is require, however, the Directors are not comfortable holding debts owing to MGB. To ensure that the CEO of MGB take more responsibility and couple with the underperformance by MGB is dragging the Group’s overall profit down, the Directors, after much deliberation, decided not to continue to hold the debts owing to MGB. The Directors felt that the best method to reduce the debt of the Group and to ensure the CEO of MGB to take more responsibility, is to dispose the redeemable convertible preference shares to the CEO of MGB. 5. Timeline The Proposed Disposal is expected to be completed on the date of this Agreement. 6. Salient Terms of the Agreement The Parties acknowledge and agree that as at the date hereof, there is an amount of RM900,000.00 only due and owing by the Company to MGB. The Purchase Consideration payable by Mr Tan See Kuy to the company shall be satisfied by way of the novation of all the liabilities, obligations, duties, rights, title, benefits, interests, covenants and undertaking of the Amount Owing by the Company to the MGB to Mr Tan See Kuy and by way of the assumption by Mr Tan See Kuy of all the liabilities, obligations, duties, rights, title, benefits, interests, covenants and undertakings of the Amount Owing by the Company to MGB. Mr Tan See Kuy will immediately convert the redeemable convertible preference shares to ordinary shares of MGB. 7. Directors and/or Substantial Shareholders' Interest None of the Directors and/or substantial shareholders of the Company and/or persons connected with them, have any interest, direct or indirect, in the Proposed Disposal. 8. Financial Effects 8.1 Issued and Paid-Up Capital and Substantial Shareholders’ Shareholdings The Proposed Disposal does not have any effect on the issued and paid-up capital of the Company as it is transacted by offsetting the Amount Owing and also on the Company’s substantial shareholders and their shareholding. 8.2 Net Assets, Gearing and Earnings The Proposed Disposal is not expected to have any material impact on the net assets (“NA”), net assets per share (“NA per share”), earnings per shares (“EPS”) and gearing of the Group for the financial year ending 31 December 2014. 9. Highest percentage ratio The highest percentage ratio applicable to the Proposed Acquisition pursuant to Paragraph 10.02(c) of the ACE Market listing requirements is approximately 6.7%, being the consideration of the Sale Shares when compared with the NA of CCHB as at 31 December 2013. 10. Approvals Required The Proposed Disposal is not subject to the approval of our shareholders. 11. Statement by Directors The Directors, after considering the best interest of the Company and to protect the wealth of the shareholders of the Company, and after taking into account of MGB’s unaudited accounts as of 30 June 2014 which shows MGB constant underperformance, felt that the Company should not continue to hold the debts owing to MGB. The Directors felt that the best method to reduce the debt of the Group is to dispose it off. The Directors is of the opinion that the Proposed Disposal is in the best interest of the Company. This announcement is dated 29 September 2014.
| |
MMSV - Unusual Market Activity
| Company Name | MMS VENTURES BERHAD (ACE Market) |
| Stock Name | MMSV |
| Date Announced | 29 Sept 2014 |
| Category | General Announcement |
| Reference No | CC-140929-9EF31 |
AMBANK - Changes in Sub. S-hldr's Int. (29B) - Employees Provident Fund Board
| Company Name | AMMB HOLDINGS BERHAD |
| Stock Name | AMBANK |
| Date Announced | 29 Sept 2014 |
| Category | Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965 |
| Reference No | AH-140929-9381B |
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. | EPF ACT 1991 |
| Nationality/Country of incorporation | Malaysia |
| Descriptions (Class & nominal value) | Ordinary Shares of RM1.00 each |
| Name & address of registered holder | Citigroup Nominees (Tempatan) Sdn Bhd Level 42, Menara Citibank 165 Jalan Ampang 50450 Kuala Lumpur 1. Citigroup Nominees (Tempatan) Sdn Bhd Employees Provident Fund Board [Acquisition of 1,664,400 shares] 2. Employees Provident Fund Board 3. Citigroup Nominees (Tempatan) Sdn Bhd Employees Provident Fund Board (KIB) 4. Citigroup Nominees (Tempatan) Sdn Bhd Employees Provident Fund Board (MAYBAN) 5. Citigroup Nominees (Tempatan) Sdn Bhd Employees Provident Fund Board (KAF FM) 6. Citigroup Nominees (Tempatan) Sdn Bhd Employees Provident Fund Board (NOMURA) 7. Citigroup Nominees (Tempatan) Sdn Bhd Employees Provident Fund Board (CIMB PRI) [Disposal of 181,800 shares] 8. Citigroup Nominees (Tempatan) Sdn Bhd Employees Provident Fund Board (ARIM) 9. Citigroup Nominees (Tempatan) Sdn Bhd Employees Provident Fund Board (TEMPLETON) |
Details of changes
Currency: Malaysian Ringgit (MYR)
| Type of transaction | Date of change | No of securities | Price Transacted (RM) |
| Acquired | 24/09/2014 | 1,664,400 | |
| Disposed | 24/09/2014 | 181,800 |
| Remarks : |
| This notice was received on 29 September 2014. |
ECOFIRS - Annual Audited Accounts - 31 May 2014
| Company Name | ECOFIRST CONSOLIDATED BHD |
| Stock Name | ECOFIRS |
| Date Announced | 29 Sept 2014 |
| Category | PDF Submission |
| Reference No | CC-140929-65175 |
| Subject | Annual Audited Accounts - 31 May 2014 |
SIME - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS):RECURRENT RELATED PARTY TRANSACTIONS
| Company Name | SIME DARBY BERHAD |
| Stock Name | SIME |
| Date Announced | 29 Sept 2014 |
| Category | General Announcement |
| Reference No | SD-140925-50289 |
| Type | Announcement | ||
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RECURRENT RELATED PARTY TRANSACTIONS | ||
| Description | Proposed Renewal of Shareholders' Mandate for Existing Recurrent Related Party Transactions and Proposed New Shareholders' Mandate for Additional Recurrent Related Party Transactions of a Revenue or Trading Nature | ||
| |||
NYLEX - Annual Audited Accounts - 31 May 2014
| Company Name | NYLEX (MALAYSIA) BERHAD |
| Stock Name | NYLEX |
| Date Announced | 29 Sept 2014 |
| Category | PDF Submission |
| Reference No | NN-140929-52435 |
| Subject | Annual Audited Accounts - 31 May 2014 |
PAOS - Annual Audited Accounts - 31 May 2014
| Company Name | PAOS HOLDINGS BERHAD |
| Stock Name | PAOS |
| Date Announced | 29 Sept 2014 |
| Category | PDF Submission |
| Reference No | CV-140929-55956 |
| Subject | Annual Audited Accounts - 31 May 2014 |
HYTEXIN - MATERIAL LITIGATION
| Company Name | HYTEX INTEGRATED BERHAD |
| Stock Name | HYTEXIN |
| Date Announced | 29 Sept 2014 |
| Category | General Announcement |
| Reference No | CS-140929-66547 |
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | HYTEX INTEGRATED BERHAD (“HIB” OR “THE COMPANY”) - WRIT AND STATEMENT OF CLAIM BY TODAY PROGRESS SDN BHD (“TPSB”) AGAINST HYTEX GARMENTS (M) SDN BHD (“HGSB”), A WHOLLY-OWNED SUBSIDIARY OF HIB - KUALA LUMPUR SESSION COURT SUIT NO B52NCVC-281-09/2014 |
The Board of Directors of HIB wishes to inform that HGSB, a wholly-owned subsidiary of HIB, had on 29 September 2014 been served a Writ and Statement of Claim from TPSB (“the Plaintiff”). 1. Date of the presentation of the Writ and Statement of Claim and the date of the Writ and Statement of Claim was served on the listed issuer, its subsidiary or major associated company. The Writ is dated 23 September 2014 and the Statement of Claim is dated 17 September 2014. Both were served on HGSB vide Messrs Yae, Seng Wai & Partners, being the solicitors for the Plaintiff, on 23 September 2014. 2. Particulars of the claim under the Writ and Statement of Claim, including the amount claimed for and the interest rate. The claim pursuant to the Writ and Statement of Claim is as below: (a) the sum of RM411,576.00; (b) interest accruing on the sum of RM411,576.00 at the rate of five percent (5%) per annum calculated from the date of judgment until the date of full and final settlement; (c) costs on the solicitors and client basis; (d) court fees of RM208.00; and (e) any other reliefs the Court thinks fit and reasonable. 3. Details of the default or circumstances leading to the filing of the Writ and Statement of Claim on the listed issuer, its subsidiary or major associated company. The filing of the Writ and Statement of Claim is a result of HGSB failing to settle the outstanding amount of RM411,576.00, being the outstanding rental for a period of ten (10) months from September 2013 to June 2014 at a rate of RM41,157.60 per month which in aggregate amounted to RM411,576.00 in respect of the lease of the property known as Lot 25, Jalan E1/5, Kawasan Perindustrian Taman Ehsan, 52100 Kepong, SelangorDarul Ehsan (“Premise”) 4. Whether HGSB is a major subsidiary of HIB HGSB is a major subsidiary of HIB. 5. Total cost of investment in HGSB. The total cost of investment was RM20,994,525.00. 6. Financial and operational impact of the Writ and Statement of Claim on the Group. (a) The operational impact resulting from the Writ and Statement of Claim will be the loss of using the premise as warehousing for the Company. (b) The financial impact resulting from the Writ and Statement of Claim will be the expected losses arising from the litigation as mentioned in Section 2 above. 7. Expected losses, if any, arising from the Writ and Statement of Claim The Company could be liable for the amount stated in Section 2 above. 8. Steps taken or proposed to be taken by HIB in respect of the Writ and Statement of Claim The Case Management for the above matter had been fixed on 28 October 2014. The Company will be appointing solicitors to attend for the above matter. Further announcement on the development of the above matter will be made to Bursa Malaysia Securities Berhad in due course. This announcement is dated 29 September 2014.
| |
MEGB - Notice of Shares Buy Back - Immediate Announcement
| Company Name | MASTERSKILL EDUCATION GROUP BERHAD |
| Stock Name | MEGB |
| Date Announced | 29 Sept 2014 |
| Category | Notice of Shares Buy Back - Immediate Announcement |
| Reference No | CM-140929-62497 |
No comments:
Post a Comment