Please refer to the earlier announcement reference number: MM-020927-44583
|IOI CORPORATION BERHAD|
|Reference is made to the announcements on the Notice of Book Closure made on 26 September 2002 and 27 September 2002 and IOI's circular to shareholders dated 14 June 2002 ("Circular").|
On behalf of the Company, AmMerchant Bank Berhad (formerly known as Arab-Malaysian Merchant Bank Berhad) wish to clarify that pursuant to the resolution on the placement arrangements ("Placement Arrangements") for Directors, Major Shareholders and Associates (as defined in the Circular) and the Non-Board Lot Shareholders (as defined in the Circular) approved by shareholders of IOI on 8 July 2002, shareholders of IOI holding less than 24,000 shares of IOI on the entitlement date will not receive Palmco Shares under the Capital Distribution. Instead, they would be receiving the proceeds from the Placement Arrangements for the Palmco Shares which they would otherwise receive under the Capital Distribution.
For the purpose of the determination of the entitlement, shareholders with more than one (1) CDS account will not be consolidated for the purpose of the calculation of entitlement. Shareholders of IOI whose shareholdings may result in non-board lots of Palmco Shares as a result of holding more than one (1) CDS account may consider consolidating their respective IOI Shares into one (1) CDS account prior to entitlement date in order for them to receive Palmco Shares under the Capital Distribution.
As stated in the Circular, the price for the placement of the Palmco Shares pursuant to the Placement Arrangements shall be not less than RM4.45, being IOI's average cost of investment for each of the Palmco Shares to be distributed under the Capital Distribution.
Notwithstanding the above, shareholders of IOI who wish to receive the distributed Palmco Shares pursuant to the Capital Distribution instead of benefiting through the Placement Arrangements may purchase sufficient additional IOI shares on the market prior to the entitlement date and time stated above.
This announcement is dated 4 October 2002.
|Company Name||IOI CORPORATION BERHAD|
|Date Announced||4 Oct 2002|
|Category||Entitlements (Notice of Book Closure)|