Good question. If i am not wrong there isnt any single majority in this company therefore those interested will have to accumulate from the open market. expect this Harvest to run long haul soon anytime now
HARVEST COURT INDUSTRIES BERHAD (¿HCIB¿ or ¿the Company¿) - PROPOSED DIVERSIFICATION AND PROPOSED RELATED PARTY TRANSACTIONS (¿PROPOSALS¿) You are advised to read the full announcement at http://www.bursamalaysia.com.
Reference is made to the Company’s announcements made on 19 December 2011, 25 June 2012, 29 June 2012, 11 October 2012, 31 December 2012, 31 January, 2013, 4 February 2013, 29 March 2013, 31 May 2013, 4 June 2013 and 20 June 2014. The Board of Directors of Harvest Court Industries Berhad (“HCIB” or “the Company”) wishes to announce that Harvest Court Construction Sdn Bhd (“HCCSB”), a wholly-owned subsidiary of the Company had on 25 July 2014 entered into a Cancellation Agreement with 1Green Enviro Sdn Bhd (“1Green”) to terminate the Letter of Award dated the 21 November 2011 issued by 1Green to HCCSB (hereinafter referred to as “LOA”) in relation to the appointment of HCCSB for the Design, Procurement, Manufacture, Construction and Commissioning of the proposed pulp and paper plant to process oil palm empty fruit bunches at Mukim Serting Ulu, Daerah Jempol, Negeri Sembilan (“1GE Project”) by way of mutual consent with no claim against the other for any expenses, costs or charges that may have been incurred or arisen by reason of the said LOA.
HCCSB had also via its letter dated 25 July 2014 informed Sagajuta (Sabah) Sdn Bhd (“Sagajuta”) that HCCSB has no longer wish to participate in the construction of the proposed mixed development on Lot TL017546879 at Teluk Likas, Kota Kinabalu, Sabah (“1 Likas Project”) as per the Letter of Undertaking dated 23 November 2011 issued by Sagajuta to HCCSB (hereinafter referred to as “LOU”).
The LOA and LOU was terminated due to majority of the shareholders of the Company have at its Annual General Meeting held on 20 June 2014 voted against the resolution pertaining to the renewal of the Shareholders’ Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature. At the same time, both 1GE Project and 1 Likas Project have not commenced the work as of to date.
The termination of LOA and LOU is not expected to have any material effect on the earnings, net asset and gearing of HCIB Group for the financial year ending 31 Decembe
MGO - mandatory General offer. In any company if any share holders wants to buy or sell their shares, they have to make known to all shareholders their intention thru their company secretary. In Harvest, RC accused Dato Chai for not following the company act. So he contest this court..... So not finalized yet.........This what I understand.....
OTHERS HARVEST COURT INDUSTRIES BERHAD (“HCIB” or “the Company”) -NOTICE OF EXTRAORDINARY GENERAL MEETING (“EGM”) TO BE CONVENED PURSUANT TO SECTION 145 OF THE COMPANIES ACT, 1965
HARVEST COURT INDUSTRIES BHD
Type Announcement Subject OTHERS Description HARVEST COURT INDUSTRIES BERHAD (“HCIB” or “the Company”) -NOTICE OF EXTRAORDINARY GENERAL MEETING (“EGM”) TO BE CONVENED PURSUANT TO SECTION 145 OF THE COMPANIES ACT, 1965
Reference is made to the Company’s announcements made on 23 July 2014 pertaining to the above matter. Further to that, the Company has filed a suit against Zenith City Investments Limited and Syawaras Sdn Bhd vide Kuala Lumpur High Court Originating Summons No.:24NCC-244-07/2014 for a declaration that the Notice of Extraordinary General Meeting (“EGM”) dated 11 July 2014 is invalid and/or defective, and an application to injunct and restrain the holding of the EGM on 8 August 2014. The above application was fixed for hearing at the Kuala Lumpur High Court on 6 August 2014.
The Board of Directors of Harvest Court Industries Berhad (“HCIB” or “the Company”) wishes to announce that at the hearing on 6 August 2014, Zenith City Investments Limited and Syawaras Sdn Bhd gave an undertaking to the Court that they will not convene and/or hold the EGM on 8 August 2014 pursuant to their Notice of EGM dated 11 July 2014.
The Company’s Originating Summons No.:24NCC-244-07/2014 is now fixed for Case Management on 11 August 2014.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
jmstar
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Posted by jmstar > 2014-07-24 08:22 | Report Abuse
Good question. If i am not wrong there isnt any single majority in this company therefore those interested will have to accumulate from the open market. expect this Harvest to run long haul soon anytime now