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SUCCESS TRANSFORMER CORPORATION BERHAD ("STC" or the "Company") PROPOSED RENEWAL OF EXISTING SHAREHOLDERS' MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE ("RRPT") AND PROPOSED NEW SHAREHOLDERS’ MANDATE FOR ADDITIONAL RRPT

SUCCESS TRANSFORMER CORPORATION BERHAD

Type

Announcement
SubjectSUCCESS TRANSFORMER CORPORATION BERHAD ("STC" or the "Company")
PROPOSED RENEWAL OF EXISTING SHAREHOLDERS' MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE ("RRPT") AND PROPOSED NEW SHAREHOLDERS’ MANDATE FOR ADDITIONAL RRPT

Contents :

The Board of Directors of the Company wishes to announce that pursuant to Paragraph 10.09 of the Listing Requirements of Bursa Malaysia Securities Berhad, the Company intends to seek the approval of its shareholders to renew the shareholders' mandate for RRPT approved by the Company’s shareholders at the Extraordinary General Meeting of the Company held on 21 March 2005, which will lapse at the conclusion of the forthcoming 1st Annual General Meeting ("AGM") of the Company, and to procure new shareholders’ mandate for additional RRPT (collectively known as "Proposed Mandate") at the AGM of the Company.


The Proposed Mandate, if approved by the shareholders at the forthcoming AGM, will enable the Company and its subsidiary companies ("Group") to continue entering into RRPT with the related parties which are necessary for the Group’s day-to-day operations. The RRPT are in the ordinary course of business, made at arm’s length, on normal commercial terms and on terms not more favourable to the related parties than those generally available to the public and not detrimental to the minority shareholders.

A circular setting out the details of the Proposed Mandate will be despatched to the shareholders of the Company in due course.



Announcement Info

Company NameSUCCESS TRANSFORMER CORPORATION BERHAD  
Stock Name SUCCESS    
Date Announced4 May 2005  
CategoryGeneral Announcement
Reference NoCM-050504-63940



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