MULTIPLE PROPOSALS GRAND-FLO BERHAD ("GRAND-FLO" AND "THE COMPANY") (I) PROPOSED RENEWAL OF THE AUTHORITY FOR THE COMPANY TO PURCHASE ITS OWN SHARES OF UP TO 10% OF ITS TOTAL NUMBER OF ISSUED SHARES; (II) PROPOSED RENEWAL OF EXISTING SHAREHOLDERS' MANDATE AND PROPOSED NEW SHAREHOLDERS' MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE AND/OR TRADING NATURE; AND (III) PROPOSED AMENDMENTS TO THE CONSTITUTION OF THE COMPANY.
| GRAND-FLO BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | GRAND-FLO BERHAD ("GRAND-FLO" AND "THE COMPANY")
(I) PROPOSED RENEWAL OF THE AUTHORITY FOR THE COMPANY TO PURCHASE ITS OWN SHARES OF UP TO 10% OF ITS TOTAL NUMBER OF ISSUED SHARES;
(II) PROPOSED RENEWAL OF EXISTING SHAREHOLDERS' MANDATE AND PROPOSED NEW SHAREHOLDERS' MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE AND/OR TRADING NATURE; AND
(III) PROPOSED AMENDMENTS TO THE CONSTITUTION OF THE COMPANY. |
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The Board of Directors of GRAND-FLO wishes to inform that GRAND-FLO intends to seek shareholders' approval in respect of the following proposals at the forthcoming Eighteenth Annual General Meeting of the Company:-
a) Proposed Renewal of the Authority for the Company to purchase its own Shares of up to 10% of its Total Number of Issued Shares ("Proposed Renewal of Share Buy-Back Authority"); b) Proposed Renewal of Existing Shareholders' Mandate and Proposed New Shareholders' Mandate for Recurrent Related Party Transactions of a Revenue and/or Trading Nature ("Proposed Shareholders' Mandate"); and c) Proposed Amendments to the Constitution of the Company (“Proposed Amendments”).
The Proposed Amendments if approve, will provide clarity on the objects of the Company and enhance administrative efficiency.
A Statement to Shareholders containing the details of the Proposed Renewal of Share Buy-Back Authority, Circular to Shareholders on Proposed Shareholders' Mandate together with Annual Report 2020 containing the details of the Proposed Amendments will be announced and published on the Company's website in due course.
This announcement is dated 29 March 2021. |
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Announcement Info
| Company Name | GRAND-FLO BERHAD |
| Stock Name | GRANFLO |
| Date Announced | 29 Mar 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-26032021-00019 |