General Announcement

07/06/2002

PRESS METAL BERHAD ("PMB" or the "Company") Proposed Employees Share Option Scheme ("Proposed ESOS")

PRESS METAL BERHAD

TypeAnnouncement
SubjectPRESS METAL BERHAD ("PMB" or the "Company")
Proposed Employees Share Option Scheme ("Proposed ESOS")

Contents :

Further to the Companys announcement dated 30 April 2002, Alliance Merchant Bank Berhad (Alliance), for and on behalf of the Board of Directors of PMB, is pleased to announce that the Securities Commission (SC) had, vide its letter dated 6 June 2002 approved the following:-


(i) Proposed ESOS for executive directors and eligible employees of PMB and its subsidiaries, of up to 10% of the issued and paid-up share capital of PMB at the date of offer; and

(ii) the listing of and quotation for the new ordinary shares of RM1.00 each in PMB (PMB Shares) to be issued pursuant to the Proposed ESOS on the Main Board of the Kuala Lumpur Stock Exchange (KLSE).

The SCs approval on the Proposed ESOS is subject to, inter-alia, the following conditions:-

(i) A final copy of the ESOS By-Laws is required to be submitted to the SC for its record;

    (ii) Confirmation letter from Alliance stating that the Company:-

    (a) has fulfilled all the SCs conditions of approval for the ESOS and that the ESOS By-laws do not contravene any of the provisions of the SCs Policies and Guidelines on Issue/ Offer of Securities (SC Guidelines"); and

    (b) has obtained other relevant approvals and has fulfilled any conditions imposed therein.

    The date of the confirmation letter submitted by Alliance, as stated in paragraph (b) above would signify the effective date for the launch or implementation of the ESOS.

    (iii) PMB is required to comply fully with other requirements as stated in the SCs Guidelines pertinent to the implementation of the Proposed ESOS.

    The Proposed ESOS is now conditional upon the approvals of the shareholders of PMB and the KLSE for the listing of and quotation for the new PMB Shares to be issued pursuant to the Proposed ESOS.

    This announcement is dated 7 June 2002.


    Announcement Info

    Company NamePRESS METAL BERHAD  
    Stock Name PMETAL
    Date Announced7 Jun 2002  
    CategoryGeneral Announcement
    Reference NoMM-020607-53833

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