TIENWAH

0.890

(%)

OTHERS TIEN WAH PRESS HOLDINGS BERHAD ("TWPH" OR THE "COMPANY") - PROPOSED RENEWAL OF SHAREHOLDERS MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE

TIEN WAH PRESS HOLDINGS BERHAD

Type Announcement
Subject OTHERS
Description
TIEN WAH PRESS HOLDINGS BERHAD ("TWPH" OR THE "COMPANY")
- PROPOSED RENEWAL OF SHAREHOLDERS MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE

Introduction

The Board of Directors of TWPH wishes to announce that the Company proposes to obtain its Shareholders’ approval for the Proposed Renewal of Shareholders’ Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature (“Proposed Shareholders’ Mandate”) at the forthcoming Annual General Meeting (“AGM”) of the Company to be convened.

Proposed Shareholders’ Mandate

At the AGM of the Company held on 6 May 2019, the Shareholders of TWPH had granted a mandate for the Company and/or its subsidiaries (“TWPH Group”) to enter into recurrent transactions of a revenue or trading nature with its related parties provided that such transactions are necessary for the day-to-day operations and they are carried out in the ordinary course of business on normal commercial terms which are not more favourable to the related parties than those generally available to the public and are on terms not to the detriment of the minority shareholders. The said mandate will expire at the conclusion of the forthcoming AGM of the Company.

Pursuant to Paragraph 10.09 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) and Bursa Securities’ Practice Note No. 12, the Board had proposed that a fresh mandate be sought from the Shareholders at the forthcoming AGM of the Company to allow the TWPH Group to continue to enter into the recurrent related party transactions of a revenue or trading nature.

Details of the Proposed Shareholders’ Mandate

A Circular to Shareholders containing details in relation to the Proposed Shareholders’ Mandate will be distributed to Shareholders together with the Annual Report of the Company for the financial year ended 31 December 2019.

 

This announcement is dated 28 February 2020.  






Announcement Info

Company Name TIEN WAH PRESS HOLDINGS BERHAD
Stock Name TIENWAH
Date Announced 28 Feb 2020
Category General Announcement for PLC
Reference Number GA1-27022020-00010