hng33, if the dateline to complete disposal of its KHSB stake to KDEB for 83.6sen is at 28 september, roughly how long before that KPS EGM should be held? like 28th Aug? how much time they would need by estimation to get approval?
n behalf of the Board of Directors of Kumpulan Perangsang Selangor Berhad ("Company"), AFFIN Investment Bank Berhad wishes to announce that an Extraordinary General Meeting ("EGM") of the Company will be held at the Kayangan Ballroom, Quality Hotel Shah Alam, Persiaran Perbandaran, 40000 Shah Alam, Selangor Darul Ehsan on Wednesday, 18 September 2013 at 10.00 a.m. The details of the Notice of EGM to be advertised in the New Straits Times on 26 August 2013 is attached herein for your attention.
(i) dispose of the Sale Shares to KDEB pursuant to the terms and conditions stipulated in the conditional share purchase agreement dated 29 April 2013 entered into between KPSB and KDEB for the Proposed Disposal, including any modifications, variations, amendments and additions thereto from time to time as stipulated in Section 2 of Part A of the circular to the shareholders of KPSB in relation to the Proposed Disposal (“Circular”); and
(ii) utilise the proceeds to be obtained from the Proposed Disposal (comprising amongst others, the proposed special dividend to be declared to the entitled shareholders of KPSB at an entitlement date to be determined later subsequent to the completion of the Proposed Disposal) in the manner stipulated in Section 2.5 of Part A of the Circular.
Still need 3 week waiting time for EGM to be held and hopeful shareholder can approve it. Therefore, investor have 3 week time now to start accumulate these stock, and hold on it.
the circular for EGM was just announced. Not sure what is the proxy form. How should I filled it up if i wish to vote "for" the disposal of KHSB ? If i dont send the proxy form , and not attend, does this mean that the chairman of the meeting will vote on my behalf or chose to abstain the vote ?
KDEB has start accumulating KHSB from open market, so far already have direct stake more than 8%. Therefore, upcoming EGM, KDEB to buy KPS 56.8% stake in KHSB is must done deal.
After EGM, KPS will need to declare special dividend of 26.6sen as soon as possible as KDEB will need these capital to compulsorily take over KHSB from minority shareholder
Cuscapi? ACE stock, after right share + warrant, 1.5sen dividend, increase share capital, transfer to main market. Ok, have to study more detail first .
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hng33
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Posted by hng33 > 2013-08-22 15:01 | Report Abuse
Stock already bottom , rebound is expected