| Type | Announcement |
| Subject | MALAYSIA AICA BERHAD (“MAICA” OR “COMPANY”) - SUBSCRIPTION OF 9,000,000 REDEEMABLE NON-CONVERTIBLE NON-CUMULATIVE PREFERENCE SHARES OF RM0.01 EACH IN THE SHARE CAPITAL OF MAICADOR SDN BHD AT AN ISSUE PRICE OF RM1.00 PER SHARE |
| Contents | The Board of Directors of MAICA (“Board”) wishes to announce that Malaysia Aica Berhad, the ultimate holding company of Maicador Sdn Bhd (“Maicador”) had on 20 July 2010 subscribed for 9,000,000 redeemable non-convertible non-cumulative preference shares (“RNCNCPS”) of RM0.01 each in the share capital of Maicador Sdn Bhd (“Maicador”) at an issue price of RM1.00 per RNCNCPS for a cash consideration of RM9,000,000 subject to the Rights and Terms of the RNCNCPS and in accordance with the relevant provisions of the Articles of Association of Maicador. Maicador was incorporated on 6 July 1976 as a private limited company with an authorized and issued and fully paid-up share capital of RM2,000,000 comprising 2,000,000 ordinary shares of RM1.00 each respectively. Its principal activity is manufacturing of prefabricated doors and door frames. On 20 July 2010, Maicador increased its authorized share capital from RM2,000,000 comprising 2,000,000 ordinary shares of RM1.00 each to RM5,000,000 comprising 4,800,000 ordinary shares of RM1.00 each and 20,000,000 RNCNCPS of RM0.01 each to facilitate the issue of the RNCNCPS. The RNCNCPS shall be redeemable in such manner and on such date(s) to be determined by Maicador and in accordance with the provision of its Articles of Association. The subscription is not expected to have any material effect on the net assets and gearing of the Group for the financial year ending 31 March 2011. The above subscription is not subject to the approval of the shareholders of the Company nor any government authorities. The Board of Directors of the Company does not foresee any risk factors involved in undertaking the above subscription. None of the Directors and/or Major Shareholders of the Company and/or persons connected to them have any interest, direct and/or indirect, in the above subscription. |
| Company Name | MALAYSIA AICA BERHAD |
| Stock Name | MAICA |
| Date Announced | 21 Jul 2010 |
| Category | General Announcement |
| Reference No | CQ-100702-42407 |