At its Annual General Meeting ("AGM")
held on 26 June 2014, the Company
obtained a Shareholders' Mandate for
ITCB Group to enter into recurrent
related party transactions which are
necessary for the ITCB Group's day to
day operations and in the ordinary
course of business based on commercial
terms which are not more favourable to
the related parties than those generally
available to the public or unrelated
third parties and are not detrimental to
the minority shareholders of the
Company.
The said Shareholders' Mandate shall, in
accordance with the Main Market Listing
Requirements of Bursa Malaysia
Securities Berhad (“Listing
Requirements”), expire at the conclusion
of the Annual General Meeting (“AGM”)
following that at which it was obtained,
unless a resolution is passed at the
said AGM for its renewal.
Pursuant to Paragraph 10.09 of the
Listing Requirements and Practice Note
12 the Company proposes to seek a
renewal of the Shareholders' Mandate at
the forthcoming AGM of the Company.
A circular to shareholders containing
information on the above Shareholders’
Mandate together with the Notice of AGM
will be issued in due course.
This announcement is dated 24 April
2015. |