Others

BackJul 29, 2011
Type Announcement
Subject OTHERS
Description

MALAYSIA AICA BERHAD (“Maica” or “the Company”)
1. Proposed Renewal of Shareholders’ Mandate For Recurrent Related Party Transactions of A Revenue or Trading Nature; and
2. Proposed Amendments to the Articles of Association

 
The Board of Directors of Maica (“the Board”) wishes to announce that Maica proposes to undertake the following proposals, subject to the approval of the Shareholders of the Company at the forthcoming Forty-Second Annual General Meeting (“42nd AGM”) to be held in September 2011 :
(i) Proposed Renewal of Shareholders’ Mandate for the Recurrent Related Party Transactions of a Revenue or Trading Nature (“RRPT”).
    The existing shareholders’ mandate approved by the shareholders of the Company at its 41st Annual General Meeting held on 21 September, 2010 will lapse at the conclusion of the forthcoming 42nd 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 in the ordinary course of business 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.

(ii) Proposed Amendments to the Articles of Association
    The proposed amendments to some clauses of the existing Articles of Association of the Company (“Proposed Amendments”) are to align the Company’s articles with the provisions of the Main Market Listing Requirements on the implementation of eDividend by Bursa Securities and to facilitate some administrative issues.

A Circular to Shareholders which sets out the details of the Proposed Renewal of Shareholders’ Mandate will be issued together with the Company’s 2011 Annual Report.

 

Announcement Info

Company Name MALAYSIA AICA BERHAD  
Stock Name MAICA    
Date Announced 29 Jul 2011  
Category General Announcement
Reference No CQ-110728-57448