(a) Proposed Amendments To The Articles of Association (b) Proposed Purchase By the Company Of Its Own Shares (c) Proposed Shareholders' Mandate For Recurrent Related Party Transactions Of A Revenue Or Trading Nature (Collectively Referred To As The "Proposals")
General Announcement
Reference No JT-010626-58981 |
| Company Name |
: |
JAYA TIASA HOLDINGS BHD |
| Stock Name |
: |
JTIASA |
| Date Announced |
: |
27/06/2001 |
|
 |
|
| Type |
: |
Announcement |
| Subject |
: |
(A) PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION
(B) PROPOSED PURCHASE BY THE COMPANY OF ITS OWN SHARES
(C) PROPOSED SHAREHOLDERS' MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS") |
Contents :
The Board of Directors of Jaya Tiasa Holdings Berhad ("the Company") wishes to announce that the Company proposes to seek the approval of its shareholders for the Proposals at the forthcoming Extraordinary General Meeting ("EGM") to be convened.
(A) PROPOSED AMENDMENTS TO THE ARTICLES OF ASSOCIATION
("Proposed Amendments)
The Proposed Amendments are to comply with the applicable provisions of the revamped Kuala Lumpur Stock Exchange Listing Requirements and to be in line with the provisions of other relevant statutory requirements.
(B) PROPOSED PURCHASE BY THE COMPANY OF ITS OWN SHARES
("Proposed Shares Buy-Back")
At the last Annual General Meeting ("AGM") of the Company held on 28 September 2000, the Board had obtained shareholders' approval for the Company to purchase up to a maximum of 28,252,000 ordinary shares of RM1.00 each representing approximately 10% of the issued and paid-up share capital of the Company of 282,528,499 ordinary shares of RM1.00 each. The authority conferred by the shareholders will expire at the conclusion of the forthcoming AGM unless the authority is renewed.
The Board therefore proposes that the Company seeks renewal of authority from the shareholders of the Company effective immediately upon the passing of the ordinary resolution in respect of the Proposed Shares Buy-Back by the shareholders of the Company at the forthcoming EGM until the conclusion of the next AGM.
(C) PROPOSED SHAREHOLDERS' MANDATE FOR RECURRENT RELATED PARTY
TRANSACTIONS OF A REVENUE OR TRADING NATURE ("Proposed Mandate")
The Proposed Mandate, if approved, will empower the Company or its subsidiaries to enter into recurrent related party transactions of a revenue or trading nature which are in the ordinary course of business and are necessary for its day-to-day operations on terms not more favourable to the related parties than those generally available to the public and not detrimental to the minority shareholders of the Company.
A Circular containing information on the Proposals will be despatched to the shareholders in due course.
