Circular/Notice to Shareholders
| HWA TAI INDUSTRIES BERHAD |
|
Subject | CIRCULAR TO SHAREHOLDERS IN RELATION TO THE PART A (I) Proposed reduction of the issued and paid-up share capital of Hwa Tai Industries Berhad ("Hwa Tai") pursuant to Section 64(1) of the Companies Act, 1965 (“Act”), involving the cancellation of RM0.60 of the par value of each ordinary share of RM1.00 in Hwa Tai (“Hwa Tai Share(s)” or “Share(s)”) (“Proposed Par Value Reduction”); (II) Proposed amendment to the Memorandum of Association of Hwa Tai to facilitate the Proposed Par Value Reduction (“Proposed Amendment”); (III) Proposed renounceable rights issue of up to 60,063,600 new Hwa Tai Shares of RM0.40 each (“Rights Shares”) at an issue price of RM0.40 per Rights Share on the basis of three (3) Rights Shares for every two (2) existing Hwa Tai Shares held after the Proposed Par Value Reduction, based on a minimum subscription level of 30,031,800 Rights Shares (“Minimum Subscription Level”), on an Entitlement Date to be determined and announced later (“Entitlement Date”) (“Proposed Rights Issue”); and (IV) Proposed exemption to Mr. Soo Thien Ming @ Soo Thien See (“Mr. Soo”) and persons acting in concert with Mr. Soo (“PACs”) from the obligation to undertake a mandatory take-over offer to acquire all the remaining Hwa Tai Shares not already owned by Mr. Soo and his PACs upon completion of the Proposed Rights Issue pursuant to Practice Note 9, Paragraph 16.1 of the Malaysian Code on Take-overs and Mergers 2010 (“Code”) (“Proposed Exemption”). PART B INDEPENDENT ADVICE LETTER FROM DWA ADVISORY SDN. BHD. TO THE NON-INTERESTED SHAREHOLDERS OF HWA TAI IN RELATION TO THE PROPOSED EXEMPTION AND NOTICE OF EXTRAORDINARY GENERAL MEETING |
Announcement Info
| Company Name | HWA TAI INDUSTRIES BERHAD |
| Stock Name | HWATAI |
| Date Announced | 10 Oct 2014 |
| Category | PDF Submission |
| Reference No | HT-141010-60946 |