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KUCHAI DEVELOPMENT BERHAD (“Kuchai” or “Company”) Public shareholding requirement pursuant to paragraph 8.15(1) of the Listing Requirements

KUCHAI DEVELOPMENT BERHAD

Type

Announcement
SubjectKUCHAI DEVELOPMENT BERHAD (“Kuchai” or “Company”)
Public shareholding requirement pursuant to paragraph 8.15(1) of the Listing Requirements

Contents :

Hwang-DBS Securities Berhad, on behalf of the Board of Directors of Kuchai (“Board”) wishes to announce that Bursa Malaysia Securities Berhad has granted, vide its letter dated 5 July 2005, an extension of time until 31 December 2005 to enable the Company to comply with the public shareholding requirement pursuant to Paragraph 8.15(1) of the Listing Requirements (“LR”).


With reference to the announcement made on 31 March 2005, the Company has entered into a Memorandum of Understanding (“MOU”) with The Nyalas Rubber Estates Limited (“Nyalas”) in regards to the proposed acquisition of an oil palm and rubber estate measuring 813.6926 hectares situated at Mukim of Nyalas, District of Jasin, Melaka and Mukim of Ayer Kuning, District of Tampin, Negeri Sembilan by the Company from Nyalas for an agreed purchase consideration of RM40,000,000 (“Estate Transaction”). Pursuant to the entry of MOU on 31 March 2005, the Company is currently in the process of finalising the details of binding formal agreements on the Estate Transaction with Nyalas (“Formal Agreements”). A detailed announcement on the Estate Transaction and the proposed steps to be undertaken by the Company to comply with Paragraph 8.15(1) of LR will be made in due course pursuant to the signing of the definitive Formal Agreements on the above.

This announcement is dated 6 July 2005.



Announcement Info

Company NameKUCHAI DEVELOPMENT BERHAD  
Stock Name KUCHAI    
Date Announced6 Jul 2005  
CategoryGeneral Announcement
Reference NoOD-050706-57322


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