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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")

KOMARKCORP BERHAD

TypeAnnouncement
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")
Contents1. 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 Fourteenth 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; and

(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 Fourteenth AGM of the Company to be convened.


2. DETAILS OF THE PROPOSALS

2.1 Proposed Share Buy-Back

At the Thirteenth AGM of the Company on 29 October 2009, 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 Fourteenth 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 Thirteenth AGM of the Company on 29 October 2009, the Board obtained shareholders' mandate for Recurrent Transactions of the Komarkcorp Group. However, this mandate will lapse at the conclusion of the Fourteenth 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 Fourteenth 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 2010 in due course.

This announcement is dated 15 September 2010.


Announcement Info

Company NameKOMARKCORP BERHAD  
Stock Name KOMARK    
Date Announced15 Sept 2010  
CategoryGeneral Announcement
Reference NoCC-100805-62752



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