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Multiple Proposals

BackJul 08, 2011
Date Announced : 08/07/2011  



Type : Announcement
Subject :
MULTIPLE PROPOSALS

Description :
BOUSTEAD HOLDINGS BERHAD (“BHB”)
(I) PROPOSED DIVIDEND-IN-SPECIE OF ORDINARY SHARES OF RM1.00 EACH IN PHARMANIAGA BERHAD (“PHARMANIAGA”) (“PHARMANIAGA SHARES”) TO THE SHAREHOLDERS OF BHB (“PROPOSED DIVIDEND-IN-SPECIE”);
(II) PROPOSED RESTRICTED OFFER FOR SALE BY BHB OF PHARMANIAGA SHARES TO THE SHAREHOLDERS OF BHB (EXCLUDING LEMBAGA TABUNG ANGKATAN TENTERA (“LTAT”) (“PROPOSED RESTRICTED OFFER FOR SALE”);
(III) PROPOSED DIVESTMENT BY BHB OF PHARMANIAGA SHARES TO LTAT, BHB DIRECTORS AND EMPLOYEES AND OTHER INVESTORS TO BE IDENTIFIED (“PROPOSED DIVESTMENT”); AND
(IV) PROPOSED BONUS ISSUE OF NEW ORDINARY SHARES OF RM0.50 EACH IN BHB (“BHB SHARES”) (“BONUS SHARE(S)”) ON THE BASIS OF 1 BONUS SHARE FOR EVERY 10 EXISTING BHB SHARES HELD (“PROPOSED BHB BONUS ISSUE”)
(HEREINAFTER COLLECTIVELY REFERRED TO AS THE “PROPOSALS”).

Announcement Details/Table Section :

We refer to the announcement pertaining to the Proposals dated 6 July 2011.

On behalf of the Board of Directors (“Board”) of BHB, AFFIN Investment Bank Berhad wishes to announce that the proforma effect of the Proposed BHB Bonus Issue on the share premium account of BHB based on the latest unaudited financial statements of BHB for the 3-month period ended 31 March 2011 is as follows:-

Company level

Share premium

RM’million

Unaudited as at 31 March 2011

1,212.1

Less:      Amount to be capitalised pursuant to the Proposed BHB Bonus Issue

(47.0)

Balance available after the Proposed BHB Bonus Issue

1,165.1

The Board of BHB confirms that, based on BHB’s latest unaudited financial statements for the 3-month period ended 31 March 2011, the share premium reserves required for the capitalisation of the Proposed BHB Bonus Issue is unimpaired by losses on a consolidated basis in accordance with Paragraph 6.30(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.
We are constantly guided by our Group motto:
"A Tradition of Strength and Stability, A Vision of Growth and Excellence"