[PRG]: PRG HOLDINGS BERHAD

31-Mar-2014

EGM

14-Apr-2014 10:00

08-Apr-2014

Arcadia I, Level 3, Hotel Armada Petaling Jaya, Lorong Utara C, Section 52, 46200 Petaling Jaya, Selangor Darul Ehsan

FURNIWEB INDUSTRIAL PRODUCTS BERHAD (“FIPB” OR THE “COMPANY”) (I) PROPOSED JOINT VENTURE WITH ALMAHARTA SDN BHD IN CONNECTION WITH THE DEVELOPMENT OF A PARCEL OF LEASEHOLD LAND HELD UNDER PN 45266, LOT 141, SECTION 88, TOWN AND DISTRICT OF KUALA LUMPUR AND STATE OF WILAYAH PERSEKUTUAN KUALA LUMPUR MEASURING APPROXIMATELY 15,033 SQUARE METRES INTO A RESIDENTIAL DEVELOPMENT; (II) PROPOSED DIVERSIFICATION OF PRINCIPAL ACTIVITIES TO INCLUDE PROPERTY DEVELOPMENT; AND (III) PROPOSED RENOUNCEABLE RIGHTS ISSUE OF UP TO 54,445,440 NEW ORDINARY SHARES OF RM0.50 EACH IN FURNIWEB INDUSTRIAL PRODUCTS BERHAD (“FIPB”) ("FIPB SHARES") ("RIGHTS SHARES") AT AN ISSUE PRICE OF RM0.55 PER RIGHTS SHARE, ON THE BASIS OF THREE (3) RIGHTS SHARES FOR EVERY FIVE (5) EXISTING FIPB SHARES HELD TOGETHER WITH UP TO 54,445,440 FREE DETACHABLE NEW WARRANTS IN FIPB ("WARRANTS") ON THE BASIS OF ONE (1) WARRANT FOR EVERY ONE (1) RIGHTS SHARE SUBSCRIBED FOR (COLLECTIVELY REFFERED TO AS THE "PROPOSALS") The Extraordinary General Meeting ("EGM") is for the purpose of considering and if thought fit, to pass the ordinary resolutions as set out in the Notice of EGM to give effect to the Proposals. The full text of the Notice of EGM is attached herewith for your attention. This annoucement is dated 31 March 2014
FIPB - Notice of EGM.pdf

(Unless otherwise stated, the definitions used in this announcement shall carry the same meaning as those defined in the circular to shareholders of Furniweb Industrial Products Berhad dated 31 March 2014) We refer to the announcement dated 31 March 2014 in relation to the Notice of EGM for the Proposals. On behalf of the Board, KIBB is pleased to announce that the shareholders of FIPB, have at the EGM held today, approved the resolutions as set out in the Notice of EGM dated 31 March 2014 in relation to the Proposed JV, Proposed Diversification and Proposed Rights Issue with Warrants. This announcement is dated 14 April 2014.

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