General Announcement
17/09/2004KNM GROUP BERHAD ("KNM" OR "COMPANY")
KNM GROUP BERHAD |
Type | Announcement |
Subject | KNM GROUP BERHAD ("KNM" OR "COMPANY") |
Contents :
(I) THE PROPOSED JOINT VENTURE ARRANGEMENT BETWEEN KNM INTERNATIONAL SDN BHD ("KNMI"), A WHOLLY-OWNED SUBSIDIARY OF KNM AND FBM-HUDSON ITALIANA SPA ("FBM"), WHICH INVOLVES THE FOLLOWING:
- - THE PROPOSED ACQUISITION BY KNMI OF 50% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF A COMPANY ("JVCO") TO BE INCORPORATED IN JEBEL ALI FREE ZONE, DUBAI, UNITED ARAB EMIRATES ("JAFZ") FROM FBM FOR A CASH CONSIDERATION OF EURO 10 MILLION OR EQUIVALENT TO RM45.6 MILLION (BASED ON THE EXCHANGE RATE OF RM4.56 PER EURO1.00) ("PROPOSED ACQUISITION"); AND
- THE PROPOSED SUBSCRIPTION OF EURO 2 MILLION OR EQUIVALENT TO RM9.12 MILLION (BASED ON THE EXCHANGE RATE OF RM4.56 PER EURO1.00) EACH BY KNMI AND FBM RESPECTIVELY NEW ORDINARY SHARES OF THE JVCO UPON COMPLETION OF THE PROPOSED ACQUISITION ("PROPOSED SUBCRIPTION")
(II) THE PROPOSED COMMERCIAL COOPERATION BETWEEN KNMI AND FBM ("PROPOSED COMMERCIAL COOPERATION")
NOTICE OF EXTRAORDINARY GENERAL MEETING
On behalf of the Board of Directors of KNM, Avenue Securities Sdn Bhd is pleased to announce that the Extraordinary General Meeting ("EGM") of KNM will be held at Parameswara Ballroom, Level 2, The Mines Beach Resort & Spa, Jalan Dulang, Off Jalan Balakong, The Mines Resort City, 43300 Seri Kembangan, Selangor Darul Ehsan on 5 October 2004 at 10.00 a.m. or at any adjournment thereof, for the purpose of considering and, if thought fit, passing the resolution relating to the Proposed Joint Venture.
The full text of the Notice of EGM is attached herewith.
This announcement is dated 17 September 2004.
AttachmentsEGM notice.doc |
Announcement Info
Company Name | KNM GROUP BERHAD |
Stock Name | KNM |
Date Announced | 17 Sept 2004 |
Category | General Announcement |
Reference No | OS-040917-63072 |
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