Submitting Merchant Bank
:
MAYBANK INVESTMENT BANK BERHAD
Company Name
:
PRESS METAL BERHAD
Stock Name
:
PMETAL  
Date Announced
:
10/01/2014


Type
:
Announcement
Subject
:
OTHERS

Description
:
PRESS METAL BERHAD ("PMB" OR "COMPANY")

PROPOSED EXEMPTION TO ALPHA MILESTONE SDN BHD ("AMSB") AND PERSONS ACTING-IN-CONCERT WITH AMSB ("PACs") UNDER SECTION 219 OF THE CAPITAL MARKETS AND SERVICES ACT, 2007 AND PRACTICE NOTE 9 PARAGRAPH 16.1 (C) OF THE MALAYSIAN CODE ON TAKE-OVERS AND MERGERS 2010 FROM THE OBLIGATION TO UNDERTAKE A MANDATORY TAKE-OVER OFFER FOR THE REMAINING SHARES AND CONVERTIBLE SECURITIES IN PRESS METAL BERHAD NOT ALREADY HELD BY AMSB AND THE PACs UPON THE ISSUANCE OF THE NEW ORDINARY SHARES OF RM0.50 EACH IN PMB ARISING FROM THE CONVERSION OF RM233,903,692 NOMINAL VALUE OF 8-YEAR 6% REDEEMABLE CONVERTIBLE SECURED LOAN STOCKS BY AMSB AND ONG SOO FAN ("PROPOSED EXEMPTION")

Announcement Details/Table Section :


Reference is made to the Company's announcement dated 6 January 2014 in relation to the Proposed Exemption ("Announcement").Unless the context otherwise requires, all expressions used herein shall have the same meanings assigned thereto in the Announcement.

On behalf of the Board, Maybank IB wishes to announce that Public Investment Bank Berhad, subject to the approval of the SC of their appointment, has been appointed by the Company to provide their independent advice to the non-interested directors and non-interested shareholders of the Company in respect of the Proposed Exemption.

This announcement is dated 10 January 2014.


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