Contents :
We refer to the letter from the Kuala Lumpur Stock Exchange dated June 12, 2000 on the abovementioned article.
We have on 8 June 2000 received a notification of change of substantial shareholder whereby Dato' Seri Maung Ng We @ Lim Yong Tong (George Lim) has acquire 2,000,000 ordinary shares in Atlan Holdings Bhd. from Mr Wong Kam Fuat (890,000 shares), Ms Yeoh Siew Ean (600,000 shares) and from others.
The Company has called a Board of Directors' Meeting to be held on 16 June 2000. One of the agenda is the resolution proposing the appointment of Dato' Seri George Lim as Chairman of the Company replacing Mr. Wong Kam Fuat who will remain as Managing Director. We will inform the KLSE the outcome of this resolution.
The Company has been and will continue to be looking out for opportunities to expand its operation through market, product and facilities expansion or new business acquisition. The Company has several options to fund such opportunities if they materialise. The options can be made up of internal generated funds, bank borrowings, rights issue, special issue, private placement and or the issue of new securities, inclusive of shares. To-date, no situation has crystallised that warrant an announcement to the KLSE. We will endeavour to make prompt announcement when such situation arises.
Query Letter Contents :
We refer to the above article appearing in The Sun on 12 June 2000, 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:-
"A change of major shareholder is on the cards for ............ Atlan Holdings
Bhd."
"...... Datuk Seri George Lim is expected to emerge as the new chairman of
Atlan, replacing Wong Kam Fuat, the current founder chairman, managing director
and major shareholder."
"His appointment, which is likely to be announced this week, follows his
purchase of two million shares or 11.7% of the company for RM20.4 million or
RM10.20 apiece."
"........... when the new acquisitions are found, ...... Atlan will finance
them via an issue of new shares, together with funds from special and rights
issues. The special issue is expected to be subscribed by Lim........."
"On completion of all the share issues, sources said Atlan's paid-up capital is
expected to swell to above RM100 million from the existing RM17.05 million."
"The current chairman Wong is expected to remain as a managing director 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,
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 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
KUALA LUMPUR STOCK EXCHANGE
TAN YEW ENG
Senior Manager, Listing Operations
YYT/TYE/LMN
cc. Securities Commission
