Article entitled:" Setia Putrajaya identifies takeover target"
| S P SETIA BERHAD |
|
Type | Reply to query |
| Reply to Query Letter by KLSE reference ID | NM-030715-43719 |
| Subject | Article entitled:" Setia Putrajaya identifies takeover target" |
Contents :
We refer to the letter from the Kuala Lumpur Stock Exchange dated 15th July 2003 pertaining to the abovementioned article which appeared on page 4 of The Star BizWeek on Saturday, 12 July 2003.
We wish to inform that we are currently actively in search of a listing vehicle in accordance to the requirements of the Supplemental Joint Venture Agreement ( "SJV Agreement" ) signed with Putrajaya Holdings Sdn Bhd . Under one of the conditions of the SJV Agreement, a company has to be procured for the purpose of listing Setia Putrajaya Sdn Bhd on the Kuala Lumpur Stock Exchange via a reverse takeover. However, at this juncture we have not concluded negotiations with any parties in relation to the above matter.
We are therefore unable to make any comments on the above article.
Query Letter Contents :
We refer to the above article appearing in The Star, Star Bizweek, page 12, on
Saturday, 12 July 2003, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined
sentences, which are reproduced as follows:-
"...Setia Putrajaya Sdn Bhd...back door listing vehicle identified Kramat Tin
Dredging Bhd.."
"...Setia Putrajaya injecting a property development project in the federal
administrative capital of Putrajaya valued at about RM110 million into Kramat
Tin Dredging. Kramat Tin Dredging in return, will issue shares and irredeemable
convertible unsecured loan stocks as consideration for the injection of the
assets by Setia Putrajaya, allowing the latter to take control of the company."
In accordance with the Exchange's Corporate Disclosure Policy, you are
requested to furnish the Exchange with an announcement for public release
confirming or denying the above reported article and in particular the
underlined sentences after due and diligent enquiry with all the directors,
major shareholders and all such other persons reasonably familiar with the
matters about which the disclosure is to be made in this respect. In the event
you deny the above sentences or any other part of the above article, you are
required to set forth facts sufficient to clarify any misleading aspects of the
same. In the event you confirm the above sentences or any other part of the
above article, you are required to set forth facts sufficient to support the
same.
Please furnish the Exchange with your reply within one (1) market day from the
date hereof.
Yours faithfully
INDERJIT SINGH
Senior Manager
Listing Operations
IS/WSW/NMA Copy to: Securities Commission (via fax)
Announcement Info
| Company Name | S P SETIA BERHAD |
| Stock Name | SPSETIA |
| Date Announced | 15 Jul 2003 |
| Category | General Announcement |
| Reference No | CU-030715-D8712 |
