News

Proposed Selective capital Reduction And Repayment Exercise Under Section 64 Of The Companies Act, 1965 To Be Undertaken By Advance Synergy Capital Berhad ("ASCAP")

BackAug 17, 2009
General Announcement
Reference No AS-090817-55969

 

Company Name
:
 ADVANCE SYNERGY BERHAD  
Stock Name
:
 ASB  
Date Announced
:
 17/08/2009  


Type
:
 Announcement
Subject
:
ADVANCE SYNERGY BERHAD (“ASB”)
- PROPOSED SELECTIVE CAPITAL REDUCTION AND REPAYMENT EXERCISE UNDER SECTION 64 OF THE COMPANIES ACT, 1965 TO BE UNDERTAKEN BY ADVANCE SYNERGY CAPITAL BERHAD (“ASCAP”)

Contents
:
The Board of Directors (“Board”) of ASB wishes to announce that ASB had today, issued a letter to the Board of ASCAP to propose that ASCAP undertakes a selective capital reduction and repayment exercise under Section 64 of the Companies Act, 1965 (“Act”) (“Proposal”).

As at 20 July 2009, ASCAP has an issued and paid-up share capital of RM156,860,835 comprising 156,860,835 ordinary shares of RM1.00 each in ASCAP (“ASCAP Shares”). As at 20 July 2009, ASB holds directly 132,531,110 ASCAP Shares, representing approximately 93.37% equity interest in ASCAP (excluding ASCAP Shares held as treasury shares).

ASB was informed today by ASCAP that its Board has agreed to table the Proposal to its shareholders for their consideration.

[This announcement is dated 17 August 2009]

Announcement Details :


 

Please refer to the attachment for the full announcement.

Attachments

  1. ASB170809.pdf (Size: 38,403 bytes)