General Announcement

17/05/2010

SERSOL TECHNOLOGIES BERHAD (SERSOL OR THE COMPANY) BUMIPUTERA EQUITY COMPLIANCE (1) PROPOSED REVISION OF THE 30% BUMIPUTERA EQUITY PARTICIPATION TO 12.5%; AND (2) PROPOSED EXTENSION OF TIME TO COMPLY WITH THE BUMIPUTERA EQUITY PARTICIPATION (COLLECTIVELY REFERRED TO AS THE PROPOSALS)

SERSOL TECHNOLOGIES BERHAD

TypeAnnouncement
SubjectSERSOL TECHNOLOGIES BERHAD (SERSOL OR THE COMPANY)

BUMIPUTERA EQUITY COMPLIANCE

(1) PROPOSED REVISION OF THE 30% BUMIPUTERA EQUITY PARTICIPATION TO 12.5%; AND
(2) PROPOSED EXTENSION OF TIME TO COMPLY WITH THE BUMIPUTERA EQUITY PARTICIPATION
(COLLECTIVELY REFERRED TO AS THE PROPOSALS)
ContentsThe Company wishes to announce that the Company had on 14 May 2010, through its adviser, TA Securities Holdings Berhad, submitted an application to the Securities Commission (SC) and the Ministry of International Trade and Industry (MITI) on the above Proposals.

In addition to the above Proposals, the Companys adviser had also submitted an application to the MITI to recognize the existing 136 Bumiputera shareholders holding 5,907,500 ordinary shares of RM0.10 each in SerSol (SerSol Shares) representing approximately 6.22% of SerSols issued and paid-up share capital as at 31 March 2010 as Bumiputera Investors and hence, be recognised to fulfill part of the 12.5% of the Bumiputera equity participation required.

The Bumiputera equity participation was imposed by the SC vide its letters dated 28 April 2004 and 24 August 2004; and the MITI vide its letters dated 10 June 2003 and 26 July 2004 as part of the conditions for the approval on the listing of SerSol on the MESDAQ Market of Bursa Malaysia Securities Berhad (MESDAQ Market) (now known as ACE Market) whereby SerSol is required to have at least 30% Bumiputera equity participation within five (5) years after its admission to the MESDAQ Market or, within one (1) year after meeting the profit track record criteria for the Second Board of Bursa Malaysia Securities Berhad, whichever is the earlier.

SerSol was listed on the MESDAQ Market of on 12 October 2004.

This announcement is dated 17 May 2010.

Announcement Info

Company NameSERSOL TECHNOLOGIES BERHAD (ACE Market) 
Stock Name SERSOL
Date Announced17 May 2010  
CategoryGeneral Announcement
Reference NoC&-100517-49701

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