1) TERMINATION OF THE SHARE SALE AGREEMENT DATED 10 SEPTEMBER 2001 BETWEEN THE COMPANY AND MISL & ASSOCIATES SDN BHD ("MISL") IN RESPECT OF THE ACQUISITIONS OF PYRAMID MANUFACTURING INDUSTRIES PTE LTD, CEM MACHINERY PTE LTD AND PMI PLATING SERVICES PTE LTD (' TERMINATION") 2) DISPOSAL OF SHARES IN SITT TATT BERHAD BY MISL IN THE OPEN MARKET ("DISPOSAL")
| SITT TATT BERHAD |
|
Type | Reply to query |
| Reply to Query Letter by KLSE reference ID | TH-030711-54260 |
| Subject | 1) TERMINATION OF THE SHARE SALE AGREEMENT DATED 10 SEPTEMBER 2001 BETWEEN THE COMPANY AND MISL & ASSOCIATES SDN BHD ("MISL") IN RESPECT OF THE ACQUISITIONS OF PYRAMID MANUFACTURING INDUSTRIES PTE LTD, CEM MACHINERY PTE LTD AND PMI PLATING SERVICES PTE LTD (' TERMINATION") 2) DISPOSAL OF SHARES IN SITT TATT BERHAD BY MISL IN THE OPEN MARKET ("DISPOSAL") |
Contents :
We append herewith our reply to your query dated 11 July 2003.
1. The status of the proposed Rights Issue of the 34,732,713 ordinary shares in its original form as approved by the Securities Commission ("SC") cannot be implemented in view of the sale of shares in the capital of the Company by MISL since 3 June 2003. Upon resolving the position of its advisor following the resignation of Utama Merchant Bank Bhd, the Company will take immediate steps to consult SC in this regard.
2. SC has on 11 July 2003 clarified that the disposal of shares in the Company by MISL does not affect the status of the approvals vide letter dated 29 October 2002, 3 December 2002 and 7 May 2003.
3. The status of the Termination remains unchanged.
Query Letter Contents :
We refer to your announcements dated 2, 4 and 7 July 2003 in respect of the
aforesaid matters.
In this connection, in addition to your reply to the Exchange's letter of even
date (our ref: TH-030711-55606) please furnish the Exchange with the following
additional information for public release immediately:-
1. In the light of the developments to date, the status of the proposed rights
issue of up to 34,732,713 ordinary shares of RM1.00 each ("Rights Shares") on
the basis of one (1) Rights Share for every two (2) existing shares held.
2. Whether clarification has been sought from the Securities Commission ("SC")
on whether the Disposal has affected the status of the SC's approval vide
letters dated 29 October 2002, 3 December 2002 and 7 May 2003 and the SC's
decision/reply in this respect.
3. The details of the status and development of the Termination.
Yours faithfully,
LISA LAM
Senior Manager
Listing Operations
LL/YYT/GTH
Announcement Info
| Company Name | SITT TATT BERHAD |
| Stock Name | SITATT |
| Date Announced | 14 Jul 2003 |
| Category | General Announcement |
| Reference No | ST-030714-63480 |
