General Announcement
05/10/2004KNM GROUP BERHAD ("KNM" OR "COMPANY")
KNM GROUP BERHAD |
Type | Announcement |
Subject | KNM GROUP BERHAD ("KNM" OR "COMPANY") |
Contents :
KNM GROUP BERHAD ("KNM" OR "COMPANY")
(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 FBM-KNM FZCO ("JVCO"), A COMPANY 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 EXCHANGE RATE OF RM4.56 PER EURO 1.00) ("PROPOSED ACQUISITION"); AND
- THE PROPOSED SUBSCRIPTION OF EURO 2 MILLION OR EQUIVALENT TO RM9.12 MILLION (BASED ON EXCHANGE RATE OF RM4.56 PER EURO 1.00) EACH BY KNMI AND FBM RESPECTIVELY NEW ORDINARY SHARES OF THE JVCO UPON COMPLETION OF THE PROPOSED ACQUISITION ("PROPOSED SUBCRIPTION")
("COLLECTIVELY REFERRED TO AS THE "PROPOSED JOINT VENTURE"); AND
(II) THE PROPOSED COMMERCIAL COOPERATION BETWEEN KNMI AND FBM ("PROPOSED COMMERCIAL COOPERATION")
NOTICE OF EXTRAORDINARY GENERAL MEETING
On behalf of KNM, Avenue Securities Sdn Bhd is pleased to announce that the resolution (as set out in the Notice of Extraordinary General Meeting ("EGM") dated 20 September 2004 in relation to the Proposed Joint Venture) tabled at the EGM held on 5 October 2004 was approved by the shareholders of the Company.
This announcement is dated 5 October 2004.
Announcement Info
Company Name | KNM GROUP BERHAD |
Stock Name | KNM |
Date Announced | 5 Oct 2004 |
Category | General Announcement |
Reference No | OS-041005-65864 |
Related Announcements for KNM