Proposed Renewal of Shareholders' Mandate For Recurrent Related Party Transactions of A Revenue or Trading Nature

BackAug 02, 2010
Type Announcement
Subject MALAYSIA AICA BERHAD (“Maica” or “the Company”)
- Proposed Renewal of Shareholders’ Mandate For Recurrent Related Party Transactions of A Revenue or Trading Nature
Contents The Board of Directors of Maica (“the Board”) wishes to announce that Maica proposes to seek its shareholders’ approval for the Proposed Renewal of Shareholders’ Mandate for its Recurrent Related Party Transactions of a Revenue or Trading Nature (“RRPT”) with Spanco Sdn Bhd (“the related party”). The existing shareholders’ mandate previously approved by the shareholders of the Company at its 40th Annual General Meeting (“AGM”) held on 19 August, 2009 will lapse at the conclusion of the forthcoming 41st AGM unless it is renewed.

The Proposed Renewal of Shareholders’ Mandate, if approved by the shareholders at the forthcoming AGM, will allow the Maica Group, in its normal course of business, to continue to enter into RRPT with the related party which are necessary for its day-to-day operations and are in the ordinary course of business and on terms not more favourable to the related party than those generally available to the public and are not to the detriment of the minority shareholders.

The Circular to Shareholders which sets out the details of the Proposed Renewal of Shareholders’ Mandate will be issued together with the Company’s 2010 Annual Report in due course.

 


Announcement Info

Company Name MALAYSIA AICA BERHAD  
Stock Name MAICA    
Date Announced 2 Aug 2010  
Category General Announcement
Reference No CQ-100730-57604