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Reference No: TP-080402-62116 |
| Company
Name |
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PACIFICMAS BERHAD |
| Stock
Name |
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PACMAS |
| Date
Announced |
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02/04/2008 |
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| Type |
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Announcement |
| Subject |
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PACIFICMAS BERHAD ("PACIFICMAS" OR "THE COMPANY")
- APPLICATION FOR AN EXTENSION OF TIME TO COMPLY WITH PUBLIC SHAREHOLDING SPREAD REQUIREMENT PURSUANT TO PARAGRAPH 8.15(1) OF THE LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("PUBLIC SHAREHOLDING SPREAD") |
| Contents |
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| We refer to our announcement dated 25 March 2008 on the non-compliance with the Public Shareholding Spread and the Company's application for an extension of time for a period of six (6) months from the date of the Company's application to meet the Public Shareholding Spread. |
| We wish to announce that on 2 April 2008, Bursa Malaysia Securities Berhad has approved an extension of time for a period of only three (3) months until 25 June 2008 to comply with the Public Shareholding Spread. |
| Based on the Company’s Record of Depositors as at 24 March 2008, the public shareholding spread of PacificMas is 17.47% (representing 29,871,260 ordinary shares of RM1.00 each in PacificMas) with 9,651 public shareholders holding not less than 100 shares each. Accordingly, PacificMas does not comply with the Public Shareholding Spread as less than 25% of its total listed shares are in the hands of public shareholders. |
| The Company has yet to formulate a plan to comply with the Public Shareholding Spread. In view that the non-compliance of the Public Shareholding Spread arises from the Offer, the Company would like to highlight that as mentioned in the Offer Document, it is the intention of OCSB to maintain the listing status of PacificMas on the Bursa Securities. In the event that PacificMas cannot meet the Public Shareholding Spread of Bursa Securities as a result of acceptances received under the Offer, OCSB will use its best endeavours to rectify the Public Shareholding Spread of PacificMas within a period of three (3) months from the closing date of the Offer, i.e. 8 April 2008. |
| Based on the Offer Document, OCSB has also mentioned that the possible measures to be taken by OCSB, include but not limited to, reducing its shareholdings to an appropriate level via strategic disposal, distribution, placement and/or offer for sale. In addition, OCSB will use its best endeavours to procure PacificMas to rectify its Public Shareholding Spread, including but not limited to, implementing private placement and/or special issue of new PacificMas Shares. 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 with such period of time allowed by Bursa Securities to rectify its Public Shareholding Spread. |
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| This announcement is dated 2 April 2008. |
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