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Reference No: PP-080521-34946 |
| Company
Name |
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PACIFICMAS BERHAD |
| Stock
Name |
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PACMAS |
| Date
Announced |
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21-05-2008 |
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| Type |
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Announcement |
| Subject |
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PACIFICMAS BERHAD ("PACIFICMAS" OR THE "COMPANY")
NON-COMPLIANCE WITH PUBLIC SHAREHOLDING SPREAD REQUIREMENT PURSUANT TO PARAGRAPH 8.15(1) OF THE LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD
- QUARTERLY STATUS ANNOUNCEMENT |
| Contents |
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| We refer to our announcements dated 25 March 2008 and 2 April 2008 which stated amongst others that: |
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i) |
PacificMas could not comply with the public shareholding spread requirement pursuant to Paragraph 8.15(1) of the Listing Requirements of Bursa Securities ("Public Shareholding Spread Requirement") in view of acceptances received by OCBC Capital (Malaysia) Sdn Bhd (formerly known as OSPL Holdings Sdn Bhd) ("OCSB") in its take-over offer to acquire all the voting shares in PacificMas not already owned by OCSB ("Offer"); and |
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ii) |
On 2 April 2008, Bursa Securities granted PacificMas an extension of time of three (3) months until 25 June 2008 to comply with the Public Shareholding Spread Requirement. |
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| PacificMas has an issued and paid-up share capital of RM170,993,500 comprising 170,993,500 ordinary shares of RM1.00 each. Based on the Company's Record of Depositors as at 16 May 2008, the public shareholding spread of PacificMas was 16.46% represented by 28,143,350 shares held by 9,386 public shareholders holding not less than 100 shares each. |
| Since the close of the Offer on 8 April 2008 ("Closing Date"), PacificMas together with OCSB, have been considering ways ("Rectification Plan") to meet the public shareholding spread. As at todate, the Rectification Plan has yet to be finalised. |
| As indicated in the Offer Document for the Offer, in the event that PacificMas cannot meet the Public Shareholding Spread Requirement as a result of the acceptances received under the Offer, OCSB will use its best endeavours to rectify or procure PacificMas to rectify the public shareholding spread of PacificMas within a period of three (3) months from the Closing Date. However, in the event that the public shareholding spread of PacificMas cannot be rectified within a period of three (3) months from the Closing Date, OCSB shall use its best endeavours to procure PacificMas to comply within such period of time allowed by Bursa Securities to rectify its public shareholding spread. |
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| This announcement is dated 21 May 2008. |
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