[BORNOIL]: BORNEO OIL BHD

15-Aug-2014

EGM

09-Sep-2014 08:00

29-Aug-2014

2nd Floor , Victoria Point, Jalan OKK Awang Besar, 87007 , W.P. Labuan

CIRCULAR TO SHAREHOLDERS IN RELATION TO THE I. PROPOSED PAR VALUE REDUCTION VIA THE CANCELLATION OF RM0.90 OF THE PAR VALUE OF EVERY EXISTING ORDINARY SHARE OF RM1.00 EACH IN THE ISSUED AND PAID-UP SHARE CAPITAL OF BORNEO OIL BERHAD ("BORNOIL") PURSUANT TO SECTION 64 OF THE COMPANIES ACT, 1965 ("PROPOSED PAR VALUE REDUCTION"); II. PROPOSED PRIVATE PLACEMENT OF UP TO 20% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF BORNOIL AT AN ISSUE PRICE TO BE DETERMINED LATER AFTER THE PROPOSED PAR VALUE REDUCTION ("PROPOSED PRIVATE PLACEMENT"); III. PROPOSED DIVERSIFICATION OF THE EXISTING CORE BUSINESSES OF BORNOIL AND ITS SUBSIDIARY COMPANIES ("BORNOIL GROUP") TO INCLUDE MINING AND ITS RELATED ACTIVITIES ("PROPOSED DIVERSIFICATION') ; AND IV. PROPOSED AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF BORNOIL ('PROPOSED AMENDMENTS')
Borneo Oil (notice of EGM dd 18.8.2014).pdf

The Board of Directors of Borneo Oil Berhad wishes to inform that the following resolutions as set out in the Notice of the Extraordinary General Meeting dated 18 August 2014, were duly approved by the shareholders:- Special Resolution 1 - par value of every existing ordinary shares of RM1.00 each in the Company be reduced to RM0.10 each ; Special Resolution 2 - amendments to the Memorandum and Articles Of Association Of the Company ; Ordinary Resolution 1 - private placement of up to 20% of the Issued and paid-up share capital of the Company and ; Ordinary Resolution 2 - Diversification of the existing core business of the Company. This announcement is dated 9 September 2014.

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