General Announcement for PLC

07/11/2019

OTHERS PARLO BERHAD ("Parlo" or "The Company") - ESTABLISHMENT AND IMPLEMENTATION OF AN EMPLOYEE SHARE TRUST SCHEME ("ESTS")

PARLO BERHAD

Type Announcement
Subject OTHERS
Description 
PARLO BERHAD ("Parlo" or "The Company")
- ESTABLISHMENT AND IMPLEMENTATION OF AN EMPLOYEE SHARE TRUST SCHEME ("ESTS")
 
The Board of Directors of Parlo wishes to announce that the Company had on 7 November 2019 established and implemented a trust for the eligible employees of Parlo and its subsidiaries (“Parlo Group” or “Group”) who fulfill the eligibility criteria as set out in Section 2(A)(i) in the attachment of this announcement (“Eligible Employees”) (“ESTS Trust”). To facilitate the ESTS, the Company had on 7 November 2019 entered into the following agreements:

(i) a trust agreement constituting the ESTS Trust (“Trust Agreement”) with Malaysian Trustees Berhad (“Trustee”) to administer the ESTS Trust; and

(ii) a loan agreement with the Trustee (“Advance Agreement”) to enable the Trustee to accept financial assistance from the Company from time to time, upon the terms and conditions of the Advance Agreement (“ESTS Advance”).

Further details of the ESTS are set out in the Attachment below.


Please refer attachment below.


Announcement Info

Company Name PARLO BERHAD
Stock Name PARLO
Date Announced 07 Nov 2019
Category General Announcement for PLC
Reference Number GA1-05112019-00050


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