General Announcement

30/12/2005

BERJAYA CORPORATION BERHAD (BCORP) EXTENSION OF TIME TO COMPLY WITH THE PUBLIC SHAREHOLDINGS SPREAD REQUIREMENT PURSUANT TO PARAGRAPH 8.15(1) OF THE LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD (BURSA SECURITIES)

BERJAYA CORPORATION BERHAD

Type

Announcement
SubjectBERJAYA CORPORATION BERHAD (BCORP)

EXTENSION OF TIME TO COMPLY WITH THE PUBLIC SHAREHOLDINGS SPREAD REQUIREMENT PURSUANT TO PARAGRAPH 8.15(1) OF THE LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD (BURSA SECURITIES)

Contents :

Upon the implementation of the restructuring exercise of Berjaya Group Berhad (BGroup), based on the Record of Depositors of BCorp as at 1 December 2005, the public shareholding spread of BCorp is 22.11%. This represents a shortfall of 2.89% and is not in compliance with Chapter 3.05 (1) of the Listing Requirements of Bursa Securities, which requires a public shareholding spread of at least 25% (Public Spread Requirement).


In this regard, Bursa Securities has granted an extension of time of six (6) months from the date of listing of and quotation for the ordinary shares of RM1.00 each in BCorp (BCorp Shares) to comply with the Public Spread Requirement. As the listing of and quotation for the BCorp Shares is expected to be on 3 January 2006, the said extension of time will extend to 2 July 2006.

BCorp has the following options to meet the Public Spread Requirement:

(i) to procure any of the major shareholders of BCorp to place out a portion of their shareholdings in BCorp to the minority or new shareholders of BCorp which meet the definition of a public shareholder in accordance to Chapter 1.01 of the Listing Requirements of Bursa Securities; and/or

(ii) to issue new BCorp Shares to the minority or new shareholders of BCorp which meet the definition of a public shareholder in accordance to Chapter 1.01 of the Listing Requirements of Bursa Securities up to an amount to meet the Public Spread Requirement.

Besides the foregoing options, the Public Spread Requirement may also be met through the subsequent conversion of the 0% Irredeemable Convertible Unsecured Loan Stocks of RM0.50 each of BCorp
(BCorp ICULS) by BCorp ICULS holders who fall within the definition of a public shareholder in accordance to Chapter 1.01 of the Listing Requirements of Bursa Securities upon conversion of the said BCorp ICULS.


The Board of BCorp will use their best endeavour to achieve the Public Spread Requirement before 2 July 2006. An appropriate announcement will be made once a proposal has been finalised to meet the Public Spread Requirement, if required.

This announcement is dated 30 December 2005.


Announcement Info

Company NameBERJAYA CORPORATION BERHAD  
Stock Name BJCORP
Date Announced30 Dec 2005  
CategoryGeneral Announcement
Reference NoMM-051230-38183

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