General Announcement

23/07/2001

Announcement to the Kuala Lumpur Stock Exchange ("KLSE") by Malaysian International Merchant Bankers Berhad ("MIMB"), on behalf of K&N Kenanga Holdings Berhad ("K&N" or "Company"), in relation to the following:- - Proposed merger of the stockbroking and futures businesses of K&N and CMS Capital Sdn Bhd ("CMS Capital") through the acquisitions by K&N of the entire issued and paid-up share capital of Sarawak Securities Sdn Bhd ("SSSB") and Sarawak Securities Futures Sdn Bhd ("SSFSB") ("Proposed Merger") - Proposed acquisition of the entire issued and paid-up share capital of Peninsula Securities Sdn Bhd ("PSSB") by K&N Kenanga Bhd, a wholly-owned subsidiary of K&N, for cash ("Proposed Acquisition") - Proposed amendments to the memorandum and articles of association of K&N Collectively refers hereunder as the "Proposals"

K & N KENANGA HOLDINGS BERHAD

TypeAnnouncement
Subject
Announcement to the Kuala Lumpur Stock Exchange ("KLSE") by Malaysian
International Merchant Bankers Berhad ("MIMB"), on behalf of K&N Kenanga
Holdings Berhad ("K&N" or "Company"), in relation to the following:-

- Proposed merger of the stockbroking and futures businesses of K&N
and CMS Capital Sdn Bhd ("CMS Capital") through the acquisitions by
K&N of the entire issued and paid-up share capital of Sarawak Securities
Sdn Bhd ("SSSB") and Sarawak Securities Futures Sdn Bhd ("SSFSB")
("Proposed Merger")

- Proposed acquisition of the entire issued and paid-up share capital of
Peninsula Securities Sdn Bhd ("PSSB") by K&N Kenanga Bhd, a
wholly-owned subsidiary of K&N, for cash ("Proposed Acquisition")

- Proposed amendments to the memorandum and articles of association
of K&N

Collectively refers hereunder as the "Proposals"

Contents :


Further to the announcement of the Company dated 17 July 2001, MIMB is pleased to announce on behalf of the Board of Directors of K&N that the shareholders of K&N had, at an extraordinary general meeting ("EGM") held on 23 July 2001, approved the Proposals as proposed.

The Proposed Merger and the Proposed Acquisition are now subject to the approvals of, inter-alia, the following:-

(a) the KLSE, for the following:-

(i) the Proposed Merger;
      (ii) the Proposed Acquisition; and

(ii) the listing of and quotation for the new K&N shares to be issued pursuant to the
Proposed Merger;

(b) the shareholders of CMS Capital (as the vendor of SSSB and SSFSB) and Cahya Mata Sarawak Berhad (as the holding company of CMS Capital) at their respective EGMs to be convened for the Proposed Merger; and

(c) the shareholders Pan Pacific Asia Berhad (as the vendor of PSSB) at an EGM to be convened for the Proposed Acquisition.


For and on behalf of
K&N KENANGA HOLDINGS BERHAD


MALAYSIAN INTERNATIONAL MERCHANT BANKERS BERHAD

This announcement is dated 23 July 2001

c.c Issues and Investment Division
Securities Commission
(Attn. : Mr Wong Wing Seong, Director)

Announcement Info

Company NameK & N KENANGA HOLDINGS BERHAD  
Stock Name KENANGA
Date Announced23 Jul 2001  
CategoryGeneral Announcement
Reference NoMM-010723-63049

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