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Arab-Malaysian Merchant Bank Berhad, on behalf of the Board of Directors of CHHB, is pleased to announce that the Securities Commission has approved CHHBs Proposed ESOS application on 17 September 1999. The Proposed ESOS has been approved as proposed as follows:-
1. The establishment of the Proposed ESOS for eligible Executive Directors and employees of the CHHB Group involving an offer of options to subscribe for new CHHB shares of up to ten percent (10%) of the issued and paid-up share capital at any point in time; and
2. The listing and quotation on the Kuala Lumpur Stock Exchange ( KLSE ) for the new shares arising from the exercise of the options pursuant to the Proposed ESOS.
The Proposed ESOS is pending KLSEs clearance for the shareholders circular and approval for the ESOS bye-laws, the lodgement with the Registrar of Companies of the ESOS bye-laws and the approval of CHHB's shareholders at general meeting.