| We refer to our announcements dated 21 May 2008, 25 June 2008 and 16 July 2008 which stated amongst others that: |
| |
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"); |
| |
ii) |
On 25 June 2008, PacificMas had submitted an application to Bursa Malaysia Securities Berhad ("Bursa Securities") to allow PacificMas to have a public shareholding spread lower than the minimum of 25% and/or extension of time to meet the Public Shareholding Spread Requirement; and |
| |
iii) |
On 16 July 2008, Bursa Securities informed PacificMas that it was unable to recognise PacificMas' public shareholding spread of 16.46% as at 16 May 2008 as being in compliance with the Public Shareholding Spread Requirement but granted PacificMas an extension of time of three (3) months until 25 September 2008 to comply with the Public Shareholding Spread Requirement.
|
|
| 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 21 August 2008, the public shareholding spread of PacificMas was 16.46% represented by 28,150,250 shares held by 9,292 public shareholders holding not less than 100 shares each. |
| On 5 August 2008, PacificMas has submitted a proposed rectification plan involving substantial shareholders to comply with the Public Shareholding Spread Requirement for the consideration of Bursa Securities. |
| An appropriate announcement will be made when PacificMas receives the decision from Bursa Securities in respect of the above. |
| |
| This announcement is dated
26 August
2008. |
