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DiGi.Com Berhad (DiGi or the Company) · Proposed capital repayment of RM0.60 per ordinary share in DiGi to the shareholders of DiGi via a reduction of the share capital and share premium account of DiGi pursuant to Sections 60 and 64 of the Companies Act, 1965; and · Proposed amendments to the Memorandum and Articles of Association of DiGi

DIGI.COM BERHAD

Type

Announcement
SubjectDiGi.Com Berhad (DiGi or the Company)
· Proposed capital repayment of RM0.60 per ordinary share in DiGi to the shareholders of DiGi via a reduction of the share capital and share premium account of DiGi pursuant to Sections 60 and 64 of the Companies Act, 1965; and
· Proposed amendments to the Memorandum and Articles of Association of DiGi

Contents :

1. Introduction

      On 26 October 2005, Southern Investment Bank Berhad (SIBB) had, on behalf of the Board of Directors of DiGi (DiGi Board), announced on Bursa Malaysia Securities Berhad the following proposals:

      (1) Proposed capital repayment of RM0.75 for every ordinary share of RM1.00 each in DiGi via a reduction of the issued and paid-up share capital of DiGi of RM750,000,000 comprising 750,000,000 ordinary shares of RM1.00 each by RM562,500,000 to RM187,500,000 comprising 750,000,000 ordinary shares of RM0.25 each pursuant to Section 64 of the Companies Act, 1965 (Act) (Proposed Capital Repayment 1); and
      (2) Proposed amendments to the Memorandum and Articles of Association of DiGi to facilitate the implementation of the Proposed Capital Repayment 1.
      The shareholders of DiGi had approved the above proposals at an extraordinary general meeting convened on 24 January 2006 and the said proposals are currently pending the relevant confirmation order of the High Court of Malaya.

      Subsequent to the above proposals, on behalf of the DiGi Board, SIBB is pleased to announce that the Company is proposing a further capital repayment of RM0.60 for every ordinary share in DiGi via the following:

      (1) Reduction of the resulting issued and paid-up share capital of DiGi of RM187,500,000 comprising 750,000,000 ordinary shares of RM0.25 each (upon the Proposed Capital Repayment 1 taking effect) by RM112,500,000 to RM75,000,000 comprising 750,000,000 ordinary shares of RM0.10 each, representing a capital repayment of RM0.15 for every ordinary share of RM0.25 each;

      (2) Reduction of DiGi’s share premium account by an amount of RM337,500,000 which translates to a capital repayment of RM0.45 for every ordinary share of RM0.25 each; and
      ((1) and (2) are collectively referred to as the Proposed Capital Repayment 2)

      (3) Proposed further amendments to the Memorandum and Articles of Association of DiGi (after the Proposed Capital Repayment 1) to facilitate the implementation of the Proposed Capital Repayment 2 (Proposed Amendments).
      ((1), (2) and (3) are collectively referred to as the Proposals)
      The Proposed Capital Repayment 2 will be satisfied wholly in cash to DiGi’s Entitled Shareholders (as defined below).

[For full details of the announcements, please refer to the attachment]


This announcement is dated 5 April 2006.


MI-060405-41142.pdf

Attachments

MI-060405-41142.pdf
221 KB



Announcement Info

Company NameDIGI.COM BERHAD  
Stock Name DIGI    
Date Announced5 Apr 2006  
CategoryGeneral Announcement
Reference NoMI-060405-41142



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