Posted by Junglestock > 2013-01-16 18:39 | Report Abuse

MAS - OTHERS MALAYSIAN AIRLINE SYSTEM BERHAD (“MAS” OR “COMPANY”) APPROVAL FOR EXTENSION OF TIME FOR ISSUE OF CIRCULAR TO SHAREHOLDERS IN RELATION TO THE FOLLOWING: (I) PROPOSED CAPITAL RESTRUCTURING COMPRISING:  PROPOSED REDUCTION OF RM0.90 OF THE PAR VALUE OF EACH EXISTING ORDINARY SHARE OF RM1.00 EACH IN MAS PURSUANT TO SECTION 64 OF THE COMPANIES ACT 1965 (“ACT”) (“PROPOSED PAR VALUE REDUCTION”); AND  PROPOSED REDUCTION OF THE SHARE PREMIUM ACCOUNT OF MAS PURSUANT TO SECTIONS 64 AND 60 OF THE ACT (“PROPOSED SHARE PREMIUM ACCOUNT REDUCTION”), (“PROPOSED CAPITAL RESTRUCTURING”); (II) PROPOSED RENOUNCEABLE RIGHTS ISSUE OF NEW ORDINARY SHARES OF RM0.10 EACH IN MAS (“SHARE(S)”) TO RAISE GROSS PROCEEDS OF UP TO RM3,100 MILLION AFTER THE PROPOSED CAPITAL RESTRUCTURING (“PROPOSED RIGHTS ISSUE”); AND (III) PROPOSED AMENDMENT TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF MAS (“M&A”) TO FACILITATE THE IMPLEMENTATION OF THE PROPOSED PAR VALUE REDUCTION (“PROPOSED AMENDMENT”) (ALL THE ABOVE COLLECTIVELY REFERRED TO AS THE “PROPOSALS”) Back -------------------------------------------------------------------------------- Company Name MALAYSIAN AIRLINE SYSTEM BERHAD Stock Name MAS Date Announced 16 Jan 2013 Category General Announcement Reference No MM-130116-64520 Type Announcement Subject OTHERS Description MALAYSIAN AIRLINE SYSTEM BERHAD (“MAS” OR “COMPANY”) APPROVAL FOR EXTENSION OF TIME FOR ISSUE OF CIRCULAR TO SHAREHOLDERS IN RELATION TO THE FOLLOWING: (I) PROPOSED CAPITAL RESTRUCTURING COMPRISING:  PROPOSED REDUCTION OF RM0.90 OF THE PAR VALUE OF EACH EXISTING ORDINARY SHARE OF RM1.00 EACH IN MAS PURSUANT TO SECTION 64 OF THE COMPANIES ACT 1965 (“ACT”) (“PROPOSED PAR VALUE REDUCTION”); AND  PROPOSED REDUCTION OF THE SHARE PREMIUM ACCOUNT OF MAS PURSUANT TO SECTIONS 64 AND 60 OF THE ACT (“PROPOSED SHARE PREMIUM ACCOUNT REDUCTION”), (“PROPOSED CAPITAL RESTRUCTURING”); (II) PROPOSED RENOUNCEABLE RIGHTS ISSUE OF NEW ORDINARY SHARES OF RM0.10 EACH IN MAS (“SHARE(S)”) TO RAISE GROSS PROCEEDS OF UP TO RM3,100 MILLION AFTER THE PROPOSED CAPITAL RESTRUCTURING (“PROPOSED RIGHTS ISSUE”); AND (III) PROPOSED AMENDMENT TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF MAS (“M&A”) TO FACILITATE THE IMPLEMENTATION OF THE PROPOSED PAR VALUE REDUCTION (“PROPOSED AMENDMENT”) (ALL THE ABOVE COLLECTIVELY REFERRED TO AS THE “PROPOSALS”) (Unless otherwise stated, the defined terms used in this announcement shall carry the same meaning as defined in the announcement on 27 November 2012 in relation to the Proposals) Reference is made to the announcements dated 27 November 2012, 5 December 2012, 21 December 2012 and 7 January 2013 in relation to the above Proposals. On behalf of MAS, we are pleased to announce that Bursa Malaysia Securities Berhad had, via its letter dated 15 January 2013, approved the application for an extension of time to 14 February 2013 for MAS to issue the circular in relation to the Proposals to its shareholders. This announcement is dated 16 January 2013.