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Reference No: PP-081114-BE1DO |
| Company
Name |
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PACIFICMAS BERHAD |
| Stock
Name |
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PACMAS |
| Date
Announced |
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18-11-2008 |
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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 (" BURSA SECURITIES")
- QUARTERLY STATUS ANNOUNCEMENT |
| Contents |
: |
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| We refer to our announcements dated 26 August 2008, 25 September 2008 and 3 October 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; |
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ii) |
Following Bursa Securities’ rejection of PacificMas’ proposed rectification plan involving substantial shareholders on 15 September 2008, PacificMas had submitted an application to Bursa Securities for a further extension of time of six (6) months from 26 September 2008 until 25 March 2009 to comply with the Public Shareholding Spread Requirement; and |
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ii) |
On 3 October 2008, PacificMas received a letter from Bursa Securities approving a further extension of time for a period of only three (3) months until 25 December 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 31 October 2008, the public shareholding spread of PacificMas was 16.46% represented by 28,150,088 shares held by 9,475 public shareholders holding not less than 100 shares each. |
| We wish to inform that the Company together with OCSB, a substantial shareholder and holding company of PacificMas, are still in the midst of evaluating several possible rectification plans before proposing a concrete rectification plan to rectify its Public Shareholding Spread. |
| Further details will be announced in due course. |
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| This announcement is dated
18 November
2008. |
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