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") by Way of Cancellation Of 9,413,190 ASCAP shares (excluding 14,916,535 Ascap Shares held as Treasury Shares) Held By Shareholders Other Than ASB (hereinafter Referred To As "Proposal")

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”) BY WAY OF CANCELLATION OF 9,413,190 ASCAP SHARES (EXCLUDING 14,916,535 ASCAP SHARES HELD AS TREASURY SHARES) HELD BY SHAREHOLDERS OTHER THAN ASB (hereinafter referred to as “Proposal”)
Contents	:	Reference is made to our announcement on 17 August 2009 concerning the Proposal. Under the Proposal, the shareholders of ASCAP other than ASB, whose names appear in ASCAP's Record of Depositors at the close of business on a date to be determined by the Board of Directors of ASCAP (“Entitlement Date”), shall receive a repayment of a cash amount of RM0.60 for each ASCAP share held. We wish to announce that the Board of Directors of ASCAP has determined that the Entitlement Date shall be 17 November 2009 and that the Proposal has taken effect on 17 November 2009 with the lodgement of the office copy of the order granted by the High Court of Malaya with the Registrar of Companies confirming the shareholders’ approval for the Proposal. Upon completion of the Proposal, ASCAP will become a wholly-owned subsidiary of ASB. This announcement is dated 17 November 2009
Announcement Details