[AVALAND]: AVALAND BERHAD

07-Dec-2012

EGM

03-Jan-2013 10:00

27-Dec-2012

Greens I,Tropicana Golf & Country Resort, Jalan Kelab Tropicana, 47410 Petaling Jaya, Selangor Darul Ehsan

Extraordinary General Meeting in relation to the following proposals:- (I) PROPOSED DISPOSALS OF 100% EQUITY INTEREST IN GREAT WALL PLASTIC INDUSTRIES BERHAD AND 100% EQUITY INTEREST IN GW PACKAGING SDN BHD BY GW PLASTICS HOLDINGS BERHAD (“GW PLASTICS”) TO SCIENTEX PACKAGING FILM SDN BHD FOR A TOTAL CASH CONSIDERATION OF RM283.200 MILLION (“PROPOSED DISPOSALS”); (II) PROPOSED DISTRIBUTION OF THE CASH PROCEEDS ARISING FROM THE PROPOSED DISPOSALS TO ALL THE ENTITLED SHAREHOLDERS OF GW PLASTICS (“PROPOSED DISTRIBUTION”); AND (III) PROPOSED AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF GW PLASTICS TO FACILITATE THE PROPOSED DISTRIBUTION (“PROPOSED M&A AMENDMENTS”)
Notice of EGM.pdf
Notice of EGM.pdf

Extraordinary General Meeting ("EGM") in relation to the following proposals:-
(I) PROPOSED DISPOSAL OF 100% EQUITY INTEREST IN GREAT WALL PLASTIC INDUSTRIES BERHAD AND 100% EQUITY INTEREST IN GW PACKAGING SDN BHD BY GW PLASTICS HOLDINGS BERHAD (“GW PLASTICS”) TO SCIENTEX PACKAGING FILM SDN BHD FOR A TOTAL CASH CONSIDERATION OF RM283.200 MILLION (“PROPOSED DISPOSALS”);

(II) PROPOSED DISTRIBUTION OF THE CASH PROCEEDS ARISING FROM THE PROPOSED DISPOSALS TO ALL THE ENTITLED SHAREHOLDERS OF GW PLASTICS (“PROPOSED DISTRIBUTION”); AND

(III) PROPOSED AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF GW PLASTICS TO FACILITATE THE PROPOSED DISTRIBUTION (“PROPOSED M&A AMENDMENTS”)

The Board of Directors of GW Plastics wishes to announce that Special Resoutions 1, 2, 3, 4 and Ordinary Resolutions 1 and 2 (Option 1) as set out in the Notice of the EGM dated 10 December 2012, were duly passed. In accordance with Paragraph 10.11A of the Listing Requirements of Bursa Malaysia Securities Berhad, Special Resolution 1 was passed by poll. The results of the poll is as follows:-

	Votes In Favour			Votes Against			Total			Abstained
	No. of Shares	%	No. of Voters	No. of Shares	%	No. of Voters	No. of Shares	%	No. of Voters	No. of Voters
Special Resolution 1 - Proposed Disposals	177,914,096	100	23	0	0	0	177,914,096	100	23	*1

*Dato’ Chew Kong Seng @ Chew Kong Huat, a non-Executive Director of GW Plastics, being deemed interested in the Proposed Disposals, has abstained from voting (by proxy) in respect of Special Resolution 1 accordingly.