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Advance Synergy Berhad ("ASB" or "Company") · Proposed Stockholders' Mandate On Recurrent Related Party Transactions Of A Revenue Or Trading Nature

BackMay 15, 2002
General Announcement
Reference No CU-020515-69486
Submitting Merchant Bank : Not Applicable
Company Name : ADVANCE SYNERGY BERHAD 
Stock Name : ASB
Date Announced : 15/05/2002

Type : Announcement
Subject : ADVANCE SYNERGY BERHAD ("ASB" OR "COMPANY")
? PROPOSED STOCKHOLDERS' MANDATE ON RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE

Contents :

The Board of Directors of ASB wishes to announce that the Company proposes to seek a general mandate from its stockholders in relation to the recurrent related party transactions of revenue or trading nature which are necessary for day-to-day operations ("Recurrent Transactions") of the Company and/or its unlisted subsidiary companies pursuant to Paragraph 10.09 of the Listing Requirements of the Kuala Lumpur Stock Exchange [hereinafter referred to as "Proposed Stockholders' Mandate"].
 
The recurrent related party transactions entered into by the Company and/or its unlisted subsidiary companies in the ordinary course of business are on normal commercial terms not more favourable to the related party than those generally available to the public and are not detrimental to the minority stockholders of the Company.

Details of the Recurrent Transactions contemplated include but not limited to those described in Appendix I attached.
 
The Company is also seeking stockholders' ratification for all Recurrent Transactions entered into by the Company and/or its unlisted subsidiary companies from 1 June 2001 to the latest practical date prior to the finalisation of the Circular to stockholders of the Company.

The direct and indirect interest of the directors of ASB in the stock units of ASB as at 30 April 2002 are as follows: