[GENM] Share Buyback (Immediate) on 16-Mar-2011

Announcement Date
16-Mar-2011
Date
16-Mar-2011
Share
Ordinary Shares of RM0.10 each
Number of Shares
300,000
Shares Retained in Treasury
300,000
Currency
Malaysian Ringgit (MYR)
Price (per shares)
3.300 - 3.310
Total Amount
994,971.95
Total Treasury Shares
253,854,900
Remark
Genting Malaysia Berhad (“Company”) today acquired 300,000 shares at a total consideration of RM994,971.95 and at an average price of RM3.32 each, inclusive of transaction costs. This share buy-back is part of the Company’s continuing efforts under its capital management programme, which the Company constantly monitors together with its strategies of business expansion (through organic growth or acquisitions) and capital distribution. The Company shall continue to pursue share buy-back efforts when opportunities present themselves, pursuant to the mandate approved by the Company’s shareholders on 9 June 2010.

Based on the Company’s issued and paid-up share capital of 5,916,493,648 ordinary shares as at 16 March 2011, and after taking into account the cumulative net outstanding treasury shares to-date of 253,854,900 (representing approximately 4.29% of the issued and paid-up share capital), the Company intends to purchase up to a further 337,794,465 of its shares (representing approximately 5.71% of the issued and paid-up share capital) within the next 3 months.
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