| Contents |
:
|
On 25 August 2008, HwangDBS Investment Bank Berhad (“HwangDBS”), on behalf of the Board of Directors (“Board”) of Bonia, announced that the Company proposes to seek a mandate from its shareholders at the forthcoming Extraordinary General Meeting for the proposed share buy-back scheme of Bonia to purchase and/or hold in aggregate up to ten percent (10%) of the issued and paid-up share capital of Bonia (“Proposed Share Buy-Back”).
As at 18 September 2008, BHSB and its PACs collectively hold 32.9% of the issued and paid-up shareholding of Bonia. As such, any buy-back of Bonia Shares by Bonia pursuant to the Proposed Share Buy-Back may result in the total shareholding of BHSB and its PACs in Bonia increasing to more than 33% and increases by 2% or more in six (6) months period thereafter. In the event thereof, BHSB and the PACs shall have the obligation to undertake a mandatory offer on all the remaining Bonia Shares not already owned by BHSB and the PAC pursuant to Part II of the Code (“MO”).
Based on the foregoing, HwangDBS wishes to announce that BHSB and the PACs propose to seek the relevant exemption from the Securities Commission (“SC”) from the obligation to undertake a mandatory offer, if arises, pursuant to the Proposed Share Buy-Back.
Bonia has appointed PM Securities Sdn Bhd as Independent Adviser. The appointment is subject to approval of the SC.
This announcement is dated 26 September 2008 |
|
