BURSA ANNOUNCEMENTS


 

Date : 30 May 2000

ARTICLE ENTITLED "PANGLOBAL SEEKS TO CANCEL EGM"

PANGLOBAL BERHAD

TypeReply to query
Reply to Query Letter by KLSE reference IDFM-000529-35736
SubjectARTICLE ENTITLED "PANGLOBAL SEEKS TO CANCEL EGM"

Contents :

We refer to the Exchange's letter dated 29 May 2000 and wish to confirm that an action has been filed in the High Court of Malaya against the 54 requisitionists of the scheduled EGM inter alia, for a declaration that the 54 requisitionists have transgressed Section 67(1) of the Insurance Act, 1996. The Company has not received any Order from the Court to stop the EGM scheduled on 8 June 2000 nor has any hearing date been fixed.

Query Letter Contents :

We refer to the above article appearing in The Sun, Sun Biz, page 1, on Monday,
29 May 2000.
In particular, we would like to draw your attention to the following sentences
in the above reported article, which are reproduced as follows:-
" PanGlobal Bhd has applied to the court for a declaration that the forthcoming
EGM, sought by minority
shareholders to oust company directors, is null and void..."
" Thus, an inter-parte (with representation from both sides) court hearing is
expected to take place
before June 8, the date of the EGM, to hear PanGlobal directors' allegation
of an attempted takeover by
minority shareholders."
" A total of 54 shareholders, who collectively own 12.01% of PanGlobal's equity
and who had
requisitioned for the EGM, were served with a writ of summons obtained from
the court by PanGlobal."



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 above
sentences after due and diligent enquiry with all the directors, substantial
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
KUALA LUMPUR STOCK EXCHANGE

Chong Fui Tzy
Manager, Listing Operations
ASL/TFM
cc:Securities Commission



Announcement Info

Company NamePANGLOBAL BERHAD  
Stock Name PGLOBAL    
Date Announced30 May 2000  
CategoryGeneral Announcement
Reference NoPP-000530-59555

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