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BRITE-TECH BERHAD ("BTECH" OR "COMPANY") Public Shareholding Spread Pursuant to Rule 8.15(1) of the Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa Securities") for the MESDAQ Market ("MMLR") - Quarterly Status Announcement Pursuant to Guidance Note 13/2007

BRITE-TECH BERHAD

TypeAnnouncement
SubjectBRITE-TECH BERHAD ("BTECH" OR "COMPANY")
Public Shareholding Spread Pursuant to Rule 8.15(1) of the Listing Requirements of Bursa Malaysia Securities Berhad ("Bursa Securities") for the MESDAQ Market ("MMLR")
- Quarterly Status Announcement Pursuant to Guidance Note 13/2007
ContentsWe refer to our announcements dated 14 January and 23 February 2009 on the public shareholding requirement.

The Board of Directors of the Company wishes to announce that the Company's public shareholding spread according to the Record of Depositors of BTECH as at 5 May 2009 stood at 30.68%, held in the hands of 615 public shareholders holding not less than 100 shares each.

Pursuant to Rule 8.15(1) of the MMLR, a listed company must ensure that at least 25% of its total listed shares are in the hands of a minimum of 1,000 public shareholders holding not less than 100 shares each ("Required Public Shareholding Spread").

Accordingly, the Company has complied with the minimum public spread of 25% but does not comply with the minimum number of 1,000 public shareholders.

The Company had on 14 January 2009 announced that Bursa Securities had vide its letter dated 14 January 2009 granted the Company a further extension of time of six (6) months until 30 June 2009 to comply with the public shareholding requirements pursuant to Rule 8.15(1) of the MMLR (“Further Extension of Time”).

The Further Extension of Time will allow the Company to continue, in its endeavour to meet the public shareholding requirement, to undertake the following activities, amongst others, as follows:

a) continue to encourage employees of the Company to invest in the Company through management briefing;
b) continue to encourage business associates of the Company to invest in the Company through word of mouth promotion;
c) continue to encourage direct contact from potential investors and shareholders to promote and create better awareness and understanding of the Company’s business;
d) continue to create public awareness and to promote the Company amongst investor community and general public through analyst briefing; and
e) to evaluate and consider participating in the CMDF-Bursa Research Scheme or other research schemes.

The Company had on 5 June 2008 issued and allotted 102,000,000 new ordinary shares of RM0.10 each in BTECH and credited as fully paid up bonus shares to the shareholders of the Company pursuant to the authority given to the Company for the Bonus Issue passed at the Extraordinary General Meeting of BTECH held on 21 May 2008.

The Company had on 30 June 2008 announced that the Company is undertaking the following proposals:-

a. Proposed restricted issue of up to 36,880,000 new ordinary shares of RM0.10 each in BTECH (“BTECH Shares”) representing up to 12.77% of the enlarged issued and paid-up share capital in the Company to Bumiputera investors (“Proposed Restricted Bumiputera Issue”); and

b. Proposed restricted offer for sale of up to 49,784,000 existing BTECH Shares representing up to 17.23% of the enlarged issued and paid-up share capital after the Proposed Restricted Bumiputera Issue to Bumiputera investors (“Proposed Restricted Bumiputera Offer”).

(Collectively referred to as the “Proposals”)

The rationale for the Proposals is to allow the Company to comply with the Bumiputera Equity Condition and facilitate the equity participation of Bumiputera investors in the growth of the Company. The Proposed Restricted Bumiputera Issue will also provide funds to finance the working capital requirements of the Company in addition to enhancing the public shareholding spread of BTECH.

On behalf of the Company, MIMB Investment Bank Berhad (“MIMB”) had on 9 December 2008 announced that the Securities Commission (“SC”) had vide its letter dated 4 December 2008 approved the Proposals under Section 212(5) of the Capital Market and Services Act, 2007 and the Guidelines on the Acquisition of Interests, Mergers and Take-overs by Local and Foreign Interests subject to the following conditions:

i) Allocation of up to 36,880,000 new ordinary shares of RM0.10 each in BTECH (“BTECH Shares”) pursuant to the Proposed Restricted Bumiputera Issue and up to 49,784,000 existing BTECH Shares pursuant to the Proposed Restricted Bumiputera Offer to Bumiputera investors to be approved by the Ministry of International Trade and Industry (“MITI”);

ii) MIMB/BTECH to inform the SC on the MITI’s decision on the Proposals; and

iii) MIMB/BTECH to inform the SC upon completion of the Proposals.

On behalf of the Company, MIMB had on 14 January 2009 announced that the Ministry of International Trade and Industry (“MITI”) had vide its letter dated 13 January 2009 (which was received on 14 January 2008) taken note of the Proposals which is subject to the conditions stated in the Securities Commission’s approval letter dated 4 December 2008. In addition, the distribution of the ordinary shares of RM0.10 in BTECH to be issued/offered to the Bumiputera investors pursuant to the Proposals is subject to MITI’s approval.

On behalf of the Company, MIMB had on 11 May 2009 announced that the shareholders of BTECH have approved the resolution on the Proposed Restricted Bumiputera Issue at the Extraordinary General Meeting convened on 11 May 2009.

The Company will make necessary announcements in relation to the status of its endeavours to comply with the public shareholding spread requirement for each quarter of its financial year in compliance with the MMLR.

This announcement is dated 14 May 2009.


Announcement Info

Company NameBRITE-TECH BERHAD (MESDAQ Market) 
Stock Name BTECH    
Date Announced14 May 2009  
CategoryGeneral Announcement
Reference NoCT-090514-59120



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