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MULTIPLE PROPOSALS GRAND-FLO BERHAD ("GRAND-FLO" AND "THE COMPANY") (I) PROPOSED RENEWAL OF THE AUTHORITY FOR THE COMPANY TO PURCHASE ITS OWN SHARES OF UP TO 10% OF THE TOTAL NUMBER OF ISSUED SHARES; (II) PROPOSED RENEWAL OF EXISTING SHAREHOLDERS' MANDATE FOR THE RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE; AND (III) PROPOSED AMENDMENTS TO THE CONSTITUTION OF THE COMPANY.

GRAND-FLO BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
GRAND-FLO BERHAD ("GRAND-FLO" AND "THE COMPANY")
(I)	PROPOSED RENEWAL OF THE AUTHORITY FOR THE COMPANY TO PURCHASE ITS OWN SHARES OF UP TO 10% OF THE TOTAL NUMBER OF ISSUED SHARES; 
(II)	PROPOSED RENEWAL OF EXISTING SHAREHOLDERS' MANDATE FOR THE RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE; AND
(III)   PROPOSED AMENDMENTS TO THE CONSTITUTION OF THE COMPANY.

The Board of Directors of Grand-Flo wishes to announce that the Company intends to seek shareholders' approval in respect of the following proposals at the forthcoming Sixteenth Annual General Meeting of the Company:-

 

a) Proposed Renewal of the Authority for the Company to purchase its own Shares of up to 10% of its total number of issued shares of the Company ("Proposed Renewal of Share Buy-Back Authority"); 

b) Proposed Renewal of Existing Shareholders' Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature ("Proposed Shareholders' Mandate"); and

c) Proposed Amendments to the Constitution of the Company ("Proposed Amendments").

 

The Proposed Amendments are made mainly for the following purposes:-

- To ensure compliance with the Main Market Listing Requirements of Bursa Malaysia Securities Berhad; and

- To provide clarity and consistency with the amendments that arise from the Companies Act 2016 and other relevant regulatory provision.

 

A Statement to Shareholders containing the details of the Proposed Renewal of Share Buy-Back Authority, Circular to Shareholders on Proposed Shareholders' Mandate and the Proposed Amendments will be despatched to the shareholders of the Company together with the Annual Report 2018 in due course.

 

This announcement is dated 11 April 2019.  






Announcement Info

Company Name GRAND-FLO BERHAD
Stock Name GRANFLO
Date Announced 11 Apr 2019
Category General Announcement for PLC
Reference Number GA1-11042019-00022




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