General Announcement
02/07/2003MALAYSIA BUILDING SOCIETY BERHAD ("MBSB") (I) PROPOSED RESTRICTED ISSUE OF 165 MILLION REDEEMABLE CONVERTIBLE PREFERENCE SHARES OF RM1.00 EACH IN MBSB ("PROPOSED RESTRICTED ISSUE"); AND (II) PROPOSED EMPLOYEE SHARE OPTION SCHEME ("PROPOSED ESOS") (COLLECTIVELY REFERRED TO AS "PROPOSALS")
MALAYSIA BUILDING SOCIETY BERHAD |
Type | Announcement |
Subject | MALAYSIA BUILDING SOCIETY BERHAD ("MBSB") (I) PROPOSED RESTRICTED ISSUE OF 165 MILLION REDEEMABLE CONVERTIBLE PREFERENCE SHARES OF RM1.00 EACH IN MBSB ("PROPOSED RESTRICTED ISSUE"); AND (II) PROPOSED EMPLOYEE SHARE OPTION SCHEME ("PROPOSED ESOS") (COLLECTIVELY REFERRED TO AS "PROPOSALS") |
Contents :
We refer to our announcement dated 6 March 2003.
On behalf of MBSB, Commerce International Merchant Bankers Berhad ("CIMB") is pleased to announce that the Securities Commission ("SC") has via its letter dated 30 June 2003 approved the Proposals subject to the following conditions:
(a) MBSB must obtain the approval of the SC for any change to the utilisation of proceeds from the Proposed Restricted Issue;
(b) In respect of the Proposed ESOS, CIMB must forward to the SC a confirmation letter that states the following:
- (i) all the conditions of approval by the SC have been fulfilled;
(ii) the by-laws of the Proposed ESOS do not contravene SC's Policies and Guidelines on Issues/Offer of Securities ("SC Guidelines") on Employee Share Option Schemes;
(iii) the Proposed ESOS has been approved by all the relevant parties and has complied with the conditions therein, if applicable.
We also wish to announce that the Foreign Investment Committee (via the SC's letter dated 30 June 2003) has no objection to the proposed equity structure of MBSB arising from the Proposals.
This announcement is dated 2 July 2003.
Announcement Info
Company Name | MALAYSIA BUILDING SOCIETY BERHAD |
Stock Name | MBSB |
Date Announced | 2 Jul 2003 |
Category | General Announcement |
Reference No | MM-030702-57947 |
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