General Announcement

20/09/2004

KNM GROUP BERHAD ("KNM" AND "COMPANY") PROPOSED TRANSFER OF THE LISTING OF AND QUOTATION FOR THE ENTIRE ENLARGED ISSUED AND PAID-UP SHARE CAPITAL OF KNM FROM THE SECOND BOARD TO THE MAIN BOARD OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") ("PROPOSED TRANSFER")

KNM GROUP BERHAD

Type

Announcement
SubjectKNM GROUP BERHAD ("KNM" AND "COMPANY")

PROPOSED TRANSFER OF THE LISTING OF AND QUOTATION FOR THE ENTIRE ENLARGED ISSUED AND PAID-UP SHARE CAPITAL OF KNM FROM THE SECOND BOARD TO THE MAIN BOARD OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") ("PROPOSED TRANSFER")

Contents :



1. INTRODUCTION
      On behalf of the Board of Directors of KNM, Avenue Securities Sdn Bhd ("Avenue") wishes to announce that KNM proposes to transfer the listing of and quotation for its entire enlarged issued and paid-up share capital from the Second Board to the Main Board of Bursa Securities.

      As at 15 September 2004, KNM has an issued and paid-up share capital of RM72,600,000 comprising 145,200,000 ordinary shares of KNM of RM0.50 each ("KNM Shares"). Assuming full exercise of the employees' shares option scheme ("ESOS") options granted under the Companys ESOS, KNMs issued and paid-up share capital will increase from RM72,600,000 comprising 145,200,000 KNM Shares to RM83,490,000 comprising 166,980,000 KNM Shares.

2. RATIONALE FOR THE PROPOSED TRANSFER
      The rationale for the Proposed Transfer is as follows:

      (i) to enhance the KNM group of companies prestige, reputation, credit standing, recognition and prominence amongst investors, business partners, associates, customers, suppliers, bankers and peers; and

      (ii) to encourage greater participation from institutional investors in the equity of KNM.


3. FINANCIAL EFFECTS OF THE PROPOSED TRANSFER
      The Proposed Transfer will not have any effect on the issued and paid-up share capital, consolidated net tangible assets, consolidated earnings, substantial shareholders' shareholdings and dividend policy of KNM.


4. APPROVALS REQUIRED
      The Proposed Transfer is subject to approvals being obtained from the following:

      (i) the Securities Commission ("SC");

      (ii) the Bursa Securities, for the transfer of the listing of and quotation for the entire enlarged share capital of KNM from the Second Board to the Main Board of Bursa Securities; and

      (iii) any other relevant authorities (if required).

5. DEPARTURE FROM THE SECURITIES COMMISSION'S POLICIES AND GUIDELINES ON ISSUE/OFFER OF SECURITIES ("SC GUIDELINES")
      There is no departure from the SC Guidelines in respect of the Proposed Transfer.


6. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS
      None of the directors or major shareholders of KNM and persons connected to them has any interest, direct or indirect in the Proposed Transfer.


7. DIRECTORS' RECOMMENDATION

      The Board of Directors of KNM, having considered all aspects of the Proposed Transfer is of the opinion that the Proposed Transfer is in the best interest of KNM.

8. TIMING OF SUBMISSION TO THE SC AND ESTIMATED TIME FRAME FOR COMPLETION
      Submission for the Proposed Transfer is expected to be made to the SC within three (3) months from the date of this announcement.

9. ADVISER

      Avenue has been appointed by KNM as Adviser for the Proposed Transfer.

This announcement is dated 20 September 2004.

Announcement Info

Company NameKNM GROUP BERHAD  
Stock Name KNM
Date Announced20 Sept 2004  
CategoryGeneral Announcement
Reference NoOS-040920-61483

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