BJLAND

Dividend in specie

BERJAYA LAND BERHAD

EX-date

16/12/2005
Entitlement date20/12/2005
Entitlement time05:00:00 PM
Entitlement subjectDividend in specie
Entitlement descriptionSpecial dividend-in-specie, of 65% gross, less tax of 28% from the remaining 0% 10-year irredeemable convertible unsecured loan stock (“ICULS”) of RM0.50 nominal amount each in Berjaya Corporation Berhad (“BCB”) (“BCB ICULS”) held by Berjaya Land Berhad (“B-Land”) upon completion of the Capital Repayment and Consolidation (as defined below) and the compensation by Berjaya Group Berhad (“BGroup”) to B-Land for the termination of the assumption by BGroup of B-Land’s put obligation pursuant to the Memorandum of Agreement dated 18 December 1999 (“Special Dividend-in-Specie”)
Period of interest payment to
Financial Year End30/04/2006
Share transfer book & register of members will be to closed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone noBerjaya Registration Services Sdn Bhd
Lot C1-C3, Block C, 2nd Floor
KL Plaza, 179 Jalan Bukit Bintang
55100 Kuala Lumpur

Tel. No.: 03-2145 0533
Fax No.: 03-2145 9702
Payment date 23/12/2005
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers13/12/2005 
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit13/12/2005 
c.Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable) 
Entitlement indicatorPercentage
Entitlement in percentage (%)65

Remarks :
The trading of the existing ordinary shares of RM1.00 each in B-Land (“B-Land Shares”) and 1999/2009 5% ICULS of B-Land (collectively “B-Land Securities”) will be suspended with effect from 9:00 a.m. on 7 December 2005, being three (3) clear market days prior to the books closure date for the other corporate proposals of B-Land as set out below:

(i) Bonus issue of up to 957,311,738 new B-Land Shares, credited as fully paid-up, on the basis of one (1) new B-Land Share for every one (1) B-Land Share (“B-Land 1st Bonus Issue”);

(ii) Capital repayment and consolidation which comprises the following:

(a) Capital repayment pursuant to Section 64 of the Companies Act, 1965 of RM0.80 for every one ordinary share of RM1.00 each in B-Land share held after the B-Land 1st Bonus Issue via the distribution of BCB ICULS;

(b) Consolidation of five (5) ordinary shares of RM0.20 each held after the capital repayment mentioned in (a) above into one (1) ordinary share of RM1.00 each in B-Land;

(“Capital Repayment and Consolidation”)

(iii) Bonus issue of up to 574,387,043 new B-Land Shares, credited as fully paid-up, on the basis of three (3) new B-Land Shares for every two (2) B-Land Shares held immediately after the B-Land 1st Bonus Issue and Capital Repayment and Consolidation (“B-Land 2nd Bonus Issue”);

(The above mentioned proposals shall collectively be referred to as “B-Land Corporate Scheme”)

Accordingly, the last day of trading of B-Land Shares prior to suspension shall be on 6 December 2005.

To facilitate the B-Land Corporate Scheme, the B-Land Securities will be recalled on 13 December 2005, being the books closure date for the B-Land Corporate Scheme. Thus, no B-Land securities can be deposited/transferred into the Depositor’s Securities accounts until the crediting of the B-Land Shares with Bursa Malaysia Depository Sdn Bhd pursuant to the B-Land Corporate Scheme, which will take place only after the books closure date for the Special Dividend-in-Specie.

The BCB ICULS to be distributed pursuant to the Special Dividend-in-Specie will be distributed together with the entitlements of the Capital Repayment and Consolidation. The distribution is expected to complete before the listing of the BCB ICULS on Bursa Malaysia Securities Berhad (“Bursa Securities”). The BCB ICULS are expected to be listed and quoted on Bursa Securities upon completion of the rights issue of BCB ICULS to be implemented by BCB. The said rights issue is expected to complete by the end of December 2005.


Announcement Info

Company NameBERJAYA LAND BERHAD  
Stock Name BJLAND    
Date Announced30 Nov 2005  
CategoryEntitlements (Notice of Book Closure)
Reference NoMM-051130-64661


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