[DAIMAN]: DAIMAN DEVELOPMENT BHD

15-Nov-2018

EGM

10-Dec-2018 10:00

03-Dec-2018

Ballrooms 2 and 3, Level 11, DoubleTree by Hilton Hotel Johor Bahru, No. 12, Jalan Ngee Heng, 80000 Johor Bahru, Johor Darul Takzim, Malaysia

DAIMAN DEVELOPMENT BERHAD ("DAIMAN" or "COMPANY") PROPOSED SELECTIVE CAPITAL REDUCTION AND REPAYMENT EXERCISE OF DAIMAN PURSUANT TO SECTION 116 OF THE COMPANIES ACT 2016 ("PROPOSED SCR")
DDB_Notice of EGM.pdf

We refer to the Company's earlier announcements in relation to the Proposed Selective Capital Reduction and Repayment Exercise of Daiman pursuant to Section 116 of the Companies Act 2016 ("Proposed SCR").Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcements.

On behalf of the Board, the Company wishes to announce that the Entitled Shareholders of the Company have approved the Special Resolution set out in the Notice of EGM dated 16 November2018 in respect of the Proposed SCR ("Special Resolution"), at the EGM of the Company held today, 10 December 2018.

The Special Resolution is to be approved by a majority in number of shareholders and at least 75% in value to the votes attached to disinterested shares that are cast either in person or by proxy at the EGM of Daiman, provided that the value of votes cast against the resolution for the Proposed SCR at the EGM is not more than 10% of the votes attaching to all disinterested shares of the total voting shares of Daiman.

The results of the poll at the EGM, which were validated by Coopers Professional Scrutineers Sdn. Bhd., the Independent Scrutineer appointed by the Company, are as follows:

	No. of disinterested shareholders	%	No. of disinterested shares	%
Voted FOR	116	79.452	20,319,200	93.077
Voted AGAINST	30	20.548	1,511,400	6.923
Total	146	100.000	21,830,600	100.000

	No. of shares	%
Total number of disinterested shares	98,175,398	100.000
Total vote casted AGAINST	1,511,400	1.539

Based on the poll results, 79.452% in number and 93.077% in value to the votes attached to disinterested shares that were cast either in person or by proxy at the EGM voted in favour of the Special Resolution. Further, 1.539% in value tothe votes attached to all disinterested shares of the total voting shares of Daiman voted against the Special Resolution. Therefore, the Special Resolution was carried.

The application to the High Court to seek the confirmation for the reduction of share capital under Section 116 of the Act will be lodged in due course.

This announcement is dated 10 December 2018.

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