Alert share




CHIN FOH BERHAD ("CFB" or "Company") PROPOSED PRIVATE PLACEMENT OF UP TO TEN PERCENT (10%) OF THE ISSUED AND PAID-UP SHARE CAPITAL OF CFB ("PROPOSED PRIVATE PLACEMENT")

CHIN FOH BERHAD

Type

Announcement
SubjectCHIN FOH BERHAD ("CFB" or "Company")

PROPOSED PRIVATE PLACEMENT OF UP TO TEN PERCENT (10%) OF THE ISSUED AND PAID-UP SHARE CAPITAL OF CFB ("PROPOSED PRIVATE PLACEMENT")

Contents :

We refer to the announcement made on 1 March 2005 in relation to the above.


Avenue Securities Sdn Bhd ("Avenue") on behalf of CFB, is pleased to announce that the Securities Commission ("SC") had, vide its letter dated 5 April 2005 (which was received on 6 April 2005) approved the Proposed Private Placement under Section 32(5) of the Securities Commission Act, 1993 and the Foreign Investment Committee's Guidelines for the Acquisitions of Interests, Merger and Takeover by Local and Foreign Interests, subject to the following conditions:

(i) Avenue/CFB should provide detailed disclosure in an announcement to Bursa Malaysia Securities Berhad regarding the proposed utilisation of proceeds from the Proposed Private Placement, which is intended for working capital;

(ii) At least 30% of the ordinary shares of RM1.00 each to be issued pursuant to the Proposed Private Placement must be placed out to Bumiputera investors;

(iii) Avenue should submit the list of placees upon completion of the Proposed Private Placement;

(iv) Avenue should inform the SC upon completion of the Proposed Private Placement;

(v) Avenue should obtain a confirmation from the Ministry of International Trade and Industry ("MITI") on CFB’s status of compliance with the previous equity condition imposed by the Foreign Investment Committee and MITI pursuant to the proposed acquisition of land and asset by CF Beloga Sdn Bhd and submit a copy of the said confirmation letter to the SC; and

(vi) Avenue/CFB should fully comply with the Policies and Guidelines on Issue/Offer of Securities in implementing the Proposed Private Placement.

This announcement is dated 6 April 2005.



Announcement Info

Company NameCHIN FOH BERHAD  
Stock Name CHINFOH    
Date Announced6 Apr 2005  
CategoryGeneral Announcement
Reference NoOS-050406-64402

Overview Market Search portfolio More
Overview Market Search Portfolio More
Recently Viewed