General Announcement for PLC

02/10/2019

OTHERS Federal International Holdings Berhad ("FIHB" or "the Company") (i) Proposed Renewal of Existing Shareholders' Mandate for Recurrent Related Party Transactions of a Revenue and/or Trading Nature ('Proposed Renewal of Existing Shareholders' Mandate'); (ii) Proposed Renewal of Authority for Share Buy-Back of up to 10% of the Total Number of Issued Shares of the Company ('Proposed Renewal of Share Buy-Back Authority'); and (iii) Proposed Adoption of a New Constitution of the Company.

FEDERAL INTERNATIONAL HOLDINGS BERHAD

Type Announcement
Subject OTHERS
Description 
Federal International Holdings Berhad ("FIHB" or "the Company")

(i) Proposed Renewal of Existing Shareholders' Mandate for Recurrent Related Party Transactions of a Revenue and/or Trading Nature ('Proposed Renewal of Existing Shareholders' Mandate');

(ii) Proposed Renewal of Authority for Share Buy-Back of up to 10% of the Total Number of Issued Shares of the Company ('Proposed Renewal of Share Buy-Back Authority'); and 

(iii) Proposed Adoption of a New Constitution of the Company.
 
FIHB wishes to announce that the Company is proposing to seek for the approval of its shareholders on the Proposed Renewal of Existing Shareholders' Mandate, Proposed Renewal of Share Buy-Back Authority and Proposed Adoption of a New Constitution of the Company at the forthcoming Thirty-Sixth Annual General Meeting ("36th AGM") of the Company to be convened at a date to be notified later. 

The Proposed Renewal of Existing Shareholders' Mandate is to allow the Company and/or its subsidiaries to enter into recurrent related party transactions ("RRPT") of a revenue or trading nature which are necessary for its day-to-day operations. The Company had, at its Thirty-Fifth AGM ("35th AGM") held on 7 December 2018, obtained the mandate from its shareholders to enter into RRPT of a revenue or trading nature. This mandate will expire at the conclusion of the forthcoming 36th AGM. 

The Proposed Renewal of Share Buy-Back Authority is to renew the authority granted by the shareholders of the Company at the 35th AGM held on 7 December 2018. The Proposed Renewal of Share Buy-Back Authority will allow the Company to purchase its own shares of up to ten per centum (10%) of the total number of issued shares of the Company in accordance with Section 127 of the Companies Act 2016. 

The Proposed Adoption of a New Constitution of the Company will bring the Company’s Constitution in line with the Companies Act 2016 and the amended Main Market Listing Requirements of Bursa Malaysia Securities Berhad as well as to enhance administrative efficiency. 

A Circular/Statement to Shareholders containing details in relation to the Proposed Renewal of Existing Shareholders' Mandate, Proposed Renewal of Share Buy-Back Authority and Proposed Adoption of a New Constitution of the Company will be distributed to the shareholders of the Company in due course. 

This announcement is dated 2 October 2019.



Announcement Info

Company Name FEDERAL INTERNATIONAL HOLDINGS BERHAD
Stock Name FIHB
Date Announced 02 Oct 2019
Category General Announcement for PLC
Reference Number GA1-30092019-00054


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