General Announcement

26/06/2002

Southern Steel Berhad 40th Annual General Meeting

SOUTHERN STEEL BERHAD

TypeAnnouncement
SubjectSouthern Steel Berhad
40th Annual General Meeting

Contents :

We are pleased to inform that at the Companys 40th Annual General Meeting (AGM) held on 26 June 2002, the shareholders have duly approved all resolutions of the Company including the following special businesses:

(a) Authority To Issue Shares
    THAT pursuant to Section 132D of the Companies Act, 1965, the Directors be and are hereby empowered to issue shares in the Company at any time and upon such terms and conditions and for such purposes as the Directors may, in their absolute discretion, deem fit, provided that the aggregate number of shares issued pursuant to this resolution in any one financial year does not exceed 10% of the issued capital of the Company for the time being and that the Directors be and are hereby empowered to obtain the approval for the listing of and quotation for the additional shares so issued on the Kuala Lumpur Stock Exchange and that such authority shall continue in force until the conclusion of the next Annual General Meeting of the Company; and
      (b) Proposed Renewal Of Mandate For Recurrent Related Party Transactions Of A Revenue Or Trading Nature
        THAT:

        (i) approval be and is hereby given to the Company and its subsidiaries to enter into the recurrent related party transactions of a revenue or trading nature referred to in the Circular to Shareholders dated 3 June 2002 (the Circular) with the party who falls within the classes of Mandated Related Parties referred to in the Circular, provided that such transactions are in the ordinary course of business and are on terms not more favourable than those generally available to the public and not to the detriment of the minority shareholders;

        (ii) such approval shall only continue to be in force until:-
            (aa) the conclusion of the next Annual General Meeting (AGM) of the Company;
            (bb) the expiration of the period within which the next AGM of the Company after the date it is required to be held pursuant to Section 143(1) of the Companies Act, 1965 (but shall not extend to such extension as may be allowed pursuant to Section 143(2) of the Companies Act, 1965); or
            (cc) revoked or varied by resolution passed by the shareholders in general meeting,
            whichever is the earlier; and

        (iii) the Directors of the Company be and are hereby authorised to complete and do all such acts and things (including executing all such documents as may be required) as they may consider expedient or necessary to give effect to this resolution.


        This announcement is dated 26 June 2002.

        Announcement Info

        Company NameSOUTHERN STEEL BERHAD  
        Stock Name SSTEEL
        Date Announced26 Jun 2002  
        CategoryGeneral Announcement
        Reference NoSS-020620-50258

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