The Board of Directors of Berjaya Media Berhad (“Company”) wishes to announce that the Company intends to seek the approval of its shareholders for the proposed renewal of and new shareholders’ mandate for recurrent related party transactions of a revenue or trading nature (“Proposed Mandate”) at its forthcoming Annual General Meeting (“AGM”).

At the last AGM held on 4 October 2018, the shareholders of the Company had granted a mandate for the Company and its subsidiaries to enter into recurrent related party transactions. In accordance with paragraph 3.1.4 of Practice Note 12 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Listing Requirements”), the said mandate will lapse at the conclusion of the forthcoming AGM unless approval for its renewal is obtained from the shareholders of the Company at the forthcoming AGM.

The Company also intends to seek shareholders’ approval for the proposed adoption of a new Constitution to replace the whole of the existing Memorandum and Articles of Association (“M&A”) of the Company (“Proposed Adoption”) at its forthcoming AGM.

The Proposed Adoption is to streamline the Company’s M&A with the provisions of the Companies Act 2016 and the relevant amendments made to the Listing Requirements to provide better clarity and consistency throughout the new Constitution and to enhance the administrative efficiency of the Company.

A circular setting out the details of the Proposed Mandate and Proposed Adoption will be despatched to the shareholders of the Company in due course.

This Announcement is dated 16 August 2019.