Highlights

[ABLEGRP] Others on 19-Oct-2006


Stock [ABLEGRP]: ABLEGROUP BHD
Announcement Date 19-Oct-2006

Financial Year
Subject Others
Type Consolidation
Description Scheme of Arrangement with Shareholders which entails the following :- 1) Reduction of the existing issued and paid-up share capital of Jin Lin Wood Industries Berhad ("Jin Lin") of RM44,000,000 comprising 44,000,000 ordinary shares of RM1.00 each in Jin Lin ("Jin Lin Shares") to RM8,800,000 comprising 44,000,000 ordinary shares of RM0.20 each in Jin Lin ("Reduction"); 2) Consolidation of 44,000,000 ordinary shares of RM0.20 each in Jin Lin into 8,800,000 Jin Lin Shares upon completion of the Reduction ("Consolidation"); 3) Cancellation of the entire issued and paid-up share capital of Jin Lin of RM8,800,000 comprising 8,800,000 Jin Lin Shares upon completion of the Consolidation ("Cancellation"); 4) In consideration for the Cancellation, Gefung Holdings Berhad ("Gefung") shall allot and issue to the shareholders of Jin Lin, 8,800,000 new ordinary shares of RM1.00 each in Gefung ("Gefung Shares") at par, credited as fully paid-up on the basis of one (1) new Gefung Share for every one (1) Jin Lin Share held after the Consolidation. 5) Forthwith and contingent upon the Cancellation, Jin Lin shall apply an amount of RM8,800,000 out of the credit reserve arising in paying in full at par, 8,800,000 Jin Lin Shares which shall be allotted and issued, credited as fully paid-up to Gefung.
Amount 1 : 1
Ex Date 10-Nov-2006
Entitlement Date 14-Nov-2006
Payment Date


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