LTKM - Final Dividend (Amended Announcement)
| Company Name | LTKM BERHAD |
| Stock Name | LTKM |
| Date Announced | 11 Sept 2014 |
| Category | Entitlements (Notice of Book Closure) |
| Reference No | CC-140911-E341D |
| Remarks : |
| The entitlement date should be 17 September 2014 as stated in the Notice of the Seventeenth Annual General Meeting, instead of 15 September 2014 as announced on 28 August 2014. The payment of the Single-Tier Final Dividend of 10% in respect of the financial year ended 31 March 2014 is subject to the approval of the shareholders at the Seventeenth Annual General Meeting of LTKM Berhad to be convened on 23 September 2014. |
LIONFIB - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS):NON RELATED PARTY TRANSACTIONS
| Company Name | LION FOREST INDUSTRIES BERHAD |
| Stock Name | LIONFIB |
| Date Announced | 11 Sept 2014 |
| Category | General Announcement |
| Reference No | LF-140911-E2129 |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | DISPOSAL BY THE COMPANY OF APPROXIMATELY 97.78% EQUITY INTEREST IN SABAH FOREST INDUSTRIES SDN BHD (“SFI”) (THE “DISPOSAL”) |
We refer to the following announcements of the Company (1) dated 5 June 2006, 29 January 2007 and 16 March 2007, all in relation to the Disposal; (2) dated 26 February 2007 on the dismissal by the High Court on 23 February 2007 of the claim by UNP Plywood Sdn Bhd (“UNP Plywood”) against SFI in Civil Suit No. K22-55-97 for RM128,874,435 for alleged wrongful termination of the Extraction and Purchasing Agreements dated 28 June 1993 and 13 August 1993 (“UNP Plywood Claim”); (3) dated 21 March 2007 on UNP Plywood’s appeal to the Court of Appeal on 20 March 2007 against the whole decision of the High Court; (4) dated 28 February 2008 on the Court of Appeal allowing UNP Plywood’s appeal on 27 February 2008 and entering judgment against SFI for damages to be assessed; and (5) dated 28 August 2008, 11 September 2009 and 11 February 2010, all in relation to SFI’s applications to the Federal Court to reverse the Court of Appeal decision which were subsequently dismissed. Under the Disposal, the buyer had retained from the disposal consideration an amount approximate to the contingent liabilities arising from the UNP Plywood Claim. The Board of Directors wishes to announce that on 11 September 2014, the Kota Kinabalu High Court Deputy Registrar assessed damages payable by SFI to be as follows: (1) Damages in the sum of RM59,590,106.60 for cancellation of the Extraction and Purchasing Agreement dated 28 June 1993 and 13 August 1993; (2) Damages in the sum of RM1,430,831.30 being the additional costs for Parcel A logs; (3) The sum of RM201,165.96 being refund of the excess royalties; (4) Interest on the said sums at the rate of 8% per annum calculated from the date of service of the writ of summons to the date of the Court of Appeal judgment; (5) Statutory interest at the rate of 8% per annum from the date of the Court of Appeal judgment to the 28 February 2011; (6) Statutory interest at the rate of 4% per annum from 1 March 2011 to 31 July 2012; (7) Statutory interest at the rate of 5% per annum from 1 August 2012 until full realization; (8) Costs of the assessment hearing. The quantum will be decided on 29 September 2014 after the parties have filed in their respective written submission. SFI shall be instructing its solicitors to appeal to the High Court Judge in chambers against the decision of the Deputy Registrar and to file an application for stay of execution. The Board of Directors has been advised that there are merits in an appeal to the High Court Judge in chambers on the quantum awarded to UNP Plywood.
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