ARTICLE ENTITLED " Sitt Tatt , MISL told to sort out problems"
| SITT TATT BERHAD |
|
Type | Reply to query |
| Reply to Query Letter by KLSE reference ID | TH-030714-39322 |
| Subject | ARTICLE ENTITLED " Sitt Tatt , MISL told to sort out problems" |
Contents :
We refer to the above Article which appeared in the New Straits Times, Business Times section on 12 July 2003 and hereby wish to inform that we are unable to confirm nor deny the underlined sentences appearing in the said Article as to whether these are statements said to be made by Securities Commission ("SC"). We have not received any official or written communications from SC in any of this matters.
We were however, verbally given to understand by SC that the disposal of shares in the Company by MISL does not affect the status of the approvals vide their letters dated 29 October 2002, 3 December 2002 and 7 May 2003.
Query Letter Contents :
We refer to the above news article appearing in New Straits Times, Business
Times section, page B1, 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:-
" THE Securities Commission (SC) said MISL & Associates Sdn Bhd's move to
dispose of Sitt Tatt Bhd's shares in the open market does not affect the
approval granted for the share sale agreement between the two parties."
" ... the SC spokesperson told ... that the waiver was based on the
shareholders' approved resolution at an April extraordinary general meeting
that exempted MISL from carrying out an MGO."
" The SC also said the RM69.3 million profit guarantee offered by MISL was not
a precondition for its approval of the deal, and as a result its withdrawal
does not affect the approval given."
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
matter 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 reported 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 reported 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
LISA LAM
Senior Manager
Listing Operations
LL/YYT/GTH
c.c. Securities Commission (via fax)
Announcement Info
| Company Name | SITT TATT BERHAD |
| Stock Name | SITATT |
| Date Announced | 15 Jul 2003 |
| Category | General Announcement |
| Reference No | ST-030715-1907D |
