Proposed Shareholders’ Mandate and Proposed Renewal of Share Buy-Back Mandate

Description GUAN CHONG BERHAD (“GCB” or “the Company”)
i) Proposed Renewal of Existing Shareholders’ Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature (“RRPT”)(“Proposed Shareholders’ Mandate”); and
ii) Proposed Renewal of Authority for the Company to Purchase Its Own Ordinary Shares of up to 10% of Its Issued and Paid-Up Share Capital (“Proposed Renewal of Share Buy-Back Mandate”)
The Board of Directors of GCB wishes to announce that the Company proposes to seek the shareholders’ approval for the Proposed Shareholders’ Mandate and Proposed Renewal of Share Buy-Back Mandate.

The Company had on 27 June 2012, obtained its shareholders’ mandate to enter into RRPT which are necessary for the day-to-day operations of GCB and its subsidiaries and to purchase in aggregate of up to 10% of its issued and paid-up share capital. The said mandates shall lapse at the conclusion of the forthcoming Annual General Meeting (“AGM”) of GCB, unless approval for its renewal is obtained from the shareholders of the Company at the forthcoming AGM.

A Circular to Shareholders containing the details of the Proposed Shareholders’ Mandate and Proposed Renewal of Share Buy-Back Mandate will be despatched to the shareholders of GCB in due course.

 

 

This announcement is dated 18 April 2013.

 

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