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General Announcement Reference No MM-020503-44439 |
| Submitting Merchant Bank | : | COMMERCE INTERNATIONAL MERCHANT BANKERS BERHAD |
| Company Name | : | Asiatic Development Berhad |
| Stock Name | : | ASIATIC |
| Date Announced | : | 03/05/2002 |
| Type | : | Announcement |
| Subject | : | ASIATIC
DEVELOPMENT BERHAD ("ASIATIC" OR "COMPANY") PROPOSAL FOR PURCHASE OF OWN SHARES |
Contents :
On 25 June 2001, the shareholders of Asiatic approved a proposal by the Company
for the purchase of its own shares.
On behalf of Asiatic, Commerce International Merchant Bankers Berhad wishes to
announce that the present mandate granted by the shareholders of Asiatic for the
Share Buy-Back will expire at the conclusion of the forthcoming Twenty-Fourth
Annual General Meeting of Asiatic. In this regard, the Company proposes to seek
a fresh authorisation from its shareholders at an Extraordinary General Meeting
to be convened to authorise the purchase of up to ten percent (10%) of the
issued and paid-up share capital of the Company.
This announcement is dated 3 May 2002.