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KOMARKCORP BERHAD ("Komarkcorp" or "Company") - Proposed Renewal of Authority for Purchase of Own Shares ("Proposed Share Buy-Back") - Proposed Renewal of General Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature ("Proposed Shareholders’ Mandate") - Proposed Amendments to the Articles of Association of the Company ("Proposed Amendments")

KOMARKCORP BERHAD

Type

Announcement
SubjectKOMARKCORP BERHAD ("Komarkcorp" or "Company")
- Proposed Renewal of Authority for Purchase of Own Shares
("Proposed Share Buy-Back")
- Proposed Renewal of General Mandate for Recurrent Related Party
Transactions of a Revenue or Trading Nature
("Proposed Shareholders’ Mandate")
- Proposed Amendments to the Articles of Association of the Company
("Proposed Amendments")

Contents :

    1. INTRODUCTION
        The Board of Directors of Komarkcorp is proposing the following:-

        (i) To seek a renewal of the authority from the shareholders of Komarkcorp at the Eleventh Annual General Meeting ("AGM") to be convened for the Company to purchase and/or hold in aggregate such number of ordinary shares of RM1.00 each in Komarkcorp ("Komarkcorp Shares") representing up to ten percent (10%) of the issued and paid-up share capital of Komarkcorp ("Proposed Share Buy-Back") through Bursa Malaysia Securities Berhad ("Bursa Securities"), subject to all other applicable and prevailing laws, rules, regulations, orders, guidelines and requirements;

        (ii) To seek a renewal of shareholders' mandate for recurrent related party transactions of a revenue or trading nature which are in the ordinary course of business ("Recurrent Transactions") of Komarkcorp and its subsidiaries ("Komarkcorp Group") ("Proposed Shareholders' Mandate") pursuant to Paragraph 10.09 of the Listing Requirements of Bursa Securities at the Eleventh AGM of the Company to be convened; and

        (iii) To seek shareholders’ approval at the Eleventh AGM for the Company to amend its Articles of Association to be in line with the recent amendments to the Listing Requirements of Bursa Securities and any prevailing laws, rules, regulations, orders, guidelines or requirements of the relevant authorities and for administrative efficiency ("Proposed Amendments").

    2. DETAILS OF THE PROPOSALS
        2.1 Proposed Share Buy-Back
            At the Tenth AGM of the Company on 27 October 2006, the Board obtained shareholders' approval for Komarkcorp to undertake the Share Buy-Back of up to ten percent (10%) of the issued and paid-up share capital of Komarkcorp through Bursa Securities. The authority to undertake the share buy-back shall lapse at the conclusion of the Eleventh AGM of Komarkcorp to be convened, unless the authority is renewed.
            The Board therefore proposes to seek the renewal of the authority from the shareholders of Komarkcorp for the Company to purchase and/or hold in aggregate such number of Komarkcorp Shares representing up to ten percent (10%) of the issued and paid-up share capital of Komarkcorp through Bursa Securities, subject to the prevailing laws, rules, regulations, orders, guidelines and requirements.

        2.2 Proposed Shareholders' Mandate
            At the Tenth AGM of the Company on 27 October 2006, the Board obtained shareholders' mandate for Recurrent Transactions of the Komarkcorp Group. However, this mandate will lapse at the conclusion of the Eleventh AGM of Komarkcorp to be convened, unless it is renewed.

            The Board therefore proposes to seek the approval of the shareholders of Komarkcorp for the Proposed Shareholders' Mandate at the Eleventh AGM of the Company to be convened.

        2.3 Proposed Amendments

            The Proposed Amendments are to bring the Articles of Association of the Company to be in line with the recent amendments to the Listing Requirements of Bursa Securities and any prevailing laws, rules, regulations, orders, guidelines or requirements of the relevant authorities and to further enhance administrative efficiency of the Company.
            The Board therefore proposes to seek the approval of the shareholders of Komarkcorp for the Proposed Amendments at the Eleventh AGM of the Company to be convened.
    A circular containing further details on the Proposed Share Buy-Back and Proposed Shareholders' Mandate will be despatched to the shareholders together with the Annual Report of the Company for the financial year ended 30 April 2007 in due course.

    Details of the Proposed Amendments will be set out in an annexure to the Annual Report of the Company for the financial year ended 30 April 2007.

    This announcement is dated 28 August 2007.


Announcement Info

Company NameKOMARKCORP BERHAD  
Stock Name KOMARK    
Date Announced28 Aug 2007  
CategoryGeneral Announcement
Reference NoCS-070827-72240





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