Others
| IMPRESSIVE EDGE GROUP BERHAD |
|
EX-date | 29/10/2010 |
| Entitlement date | 02/11/2010 |
| Entitlement time | 05:00:00 PM |
| Entitlement subject | Others |
| Entitlement description | IMPRESSIVE EDGE GROUP BERHAD ("IMPRESSIVE") SELECTIVE CAPITAL REDUCTION AND REPAYMENT EXERCISE PURSUANT TO SECTION 64 OF THE COMPANIES ACT, 1965 ("SCR") |
| Period of interest payment | to |
| Financial Year End | |
| Share transfer book & register of members will be | to closed from (both dates inclusive) for the purpose of determining the entitlements |
| Registrar's name ,address, telephone no | Securities Services (Holdings) Sdn. Bhd. Level 7, Menara Milenium Jalan Damanlela Pusat Bandar Damansara Damansara Heights 50490 Kuala Lumpur, Malaysia Tel: 03-2084 9000 Fax: 03-2094 9940 |
| Payment date | |
| a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers | 02/11/2010 |
| b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit | |
| c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange. | |
| Number of new shares/securities issued (units) (If applicable) | |
| Entitlement indicator | Currency |
| Currency | Malaysian Ringgit (MYR) |
| Entitlement in Currency | 0.18 |
| Remarks : |
| The SCR entails a selective capital reduction and repayment under Section 64 of the Companies Act, 1965, which will result in the reduction of the issued and paid-up share capital of Impressive from RM15,863,800 comprising 158,638,000 ordinary shares of RM0.10 in Impressive (“Impressive Shares”) to RM4,307,603.80 comprising 43,076,038 Impressive Shares by way of cancelling a total of 115,561,962 Impressive Shares as follows: (i) all the outstanding Impressive Shares held by shareholders of Impressive other than Impressive Edge Corporation (M) Sdn Bhd (“IEC”), a major shareholder of Impressive and persons connected to IEC in relation to the SCR, namely Ng Hai Teng, Ooi Lai Heng, Ng Hai Chai, Ng Hai Sing, Koh Bah Suan, Teh Kean Beng and Ong Chin Vi (“Persons Connected”) (“Non-Interested Shareholders”) involving 64,201,090 Impressive Shares; and (ii) the balance of 51,360,872 Impressive Shares held by IEC and Persons Connected. Upon completion of the SCR, IEC and Persons Connected will hold 43,076,038 Impressive Shares, representing the entire issued and paid-up share capital of Impressive. After the lodgement of the Court Order with the Companies Commission of Malaysia, Impressive will make a cash distribution of RM0.18 for every Impressive Share held to the Non-Interested Shareholders whose names appear on the Record of Depositors on the Entitlement Date. In total, the SCR will entail the repayment of up to RM11,556,196.20 or a cash amount of RM0.18 for each Impressive Share held as at the Entitlement Date to the Non-Interested Shareholders of Impressive. IEC and Persons Connected have waived their respective entitlement for the capital repayment amounting to RM5,136,087.20 pursuant to the SCR. Upon completion of the SCR, IEC and Persons Connected will collectively hold 100% equity interest in Impressive. IEC and Persons Connected have indicated that they do not intend to maintain the listing status of Impressive on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) upon the completion of the SCR. Upon completion of the SCR, Impressive will withdraw its listing from the Official List of Bursa Securities. The trading of Impressive Shares on the ACE Market of Bursa Securities will be suspended from 9.00 a.m. on Wednesday, 27 October 2010, being 3 clear Market Days before the Entitlement Date. Accordingly, the last day for trading of Impressive Shares on the ACE Market of Bursa Securities prior to the suspension shall be on Tuesday, 26 October 2010. The trading of Impressive Shares will continue to be suspended until the completion of the SCR and the subsequent delisting of Impressive from the Official List of Bursa Securities. |
Announcement Info
| Company Name | IMPRESSIVE EDGE GROUP BERHAD (ACE Market) |
| Stock Name | IMPRESS |
| Date Announced | 18 Oct 2010 |
| Category | Entitlements (Notice of Book Closure) |
| Reference No | OD-101018-63126 |