Date Published : 2017-08-29
SUBJECT : OTHERS
(i) PROPOSED RENEWAL OF SHARE BUY-BACK AUTHORITY;
(ii) PROPOSED RENEWAL OF SHAREHOLDERS MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE AND PROVISION OF FINANCIAL ASSISTANCE;
(iii) PROPOSED NEW SHAREHOLDERS MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE; AND
(iv) AUTHORITY TO ISSUE & ALLOT SHARES PURSUANT TO SECTIONS 75 AND 76 OF THE COMPANIES ACT, 2016.
The Board of Directors of Mycron wishes to announce that the Company will seek approval from its shareholders at the forthcoming Annual General Meeting ("AGM") for the following:
(i) Proposed Renewal of Share Buy-Back Authority;
(ii) Proposed Renewal of Shareholders’ Mandate for Recurrent Related Party Transactions of A Revenue or Trading Nature and Provision of Financial Assistance;
(iii) Proposed New Shareholders’ Mandate for Recurrent Related Party Transactions of A Revenue or Trading Nature; and
(iv) Authority to Issue and Allot Shares Pursuant to Sections 75 and 76 of the Companies Act, 2016.
(collectively referred to as "the Proposals")
In accordance with the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the existing shareholders' mandate approved by the shareholders at the previous AGM held on 8 December 2016 in respect of Proposals (i) (ii) and (iv) above shall lapse at the conclusion of the forthcoming AGM, unless renewal is obtained from the shareholders of Mycron.
In connection therewith, a Circular to Shareholders containing details of the said Proposals except for item (iv) will be issued and circulated to the shareholders of the Company in due course.
This announcement is dated 29 August 2017.