Company Announcements

Date : 22 April 2003

KOTRA INDUSTRIES BERHAD ("KOTRA" OR THE "COMPANY") PROPOSED EMPLOYEES' SHARE OPTION SCHEME FOR ELIGIBLE EMPLOYEES AND EXECUTIVE DIRECTORS OF KOTRA AND ITS SUBSIDIARY (“PROPOSED ESOS” OR “SCHEME”)

KOTRA INDUSTRIES BERHAD

Type

Announcement
SubjectKOTRA INDUSTRIES BERHAD ("KOTRA" OR THE "COMPANY")

PROPOSED EMPLOYEES' SHARE OPTION SCHEME FOR ELIGIBLE EMPLOYEES AND EXECUTIVE DIRECTORS OF KOTRA AND ITS SUBSIDIARY (“PROPOSED ESOS” OR “SCHEME”)

Contents :

On behalf of the Board of Directors of Kotra, Commerce International Merchant Bankers Berhad ("CIMB") is pleased to announce that the approval of the Securities Commission (“SC”) vide its letter dated 22 April 2003 has been obtained for the following:
    (i) the establishment of the Scheme involving the issuance of such number of ordinary shares of RM0.50 each in Kotra up to a maximum of 20% of the issued and paid-up share capital of Kotra; and

    (ii) the listing of and quotation for the new ordinary shares of RM0.50 each in Kotra to be issued upon the exercise of options granted pursuant to the Scheme on the MESDAQ Market of the Kuala Lumpur Stock Exchange (“KLSE”).

    The approval of the SC for the Scheme is subject to the following conditions:
      (i) a final copy of the Bye-Laws of the Scheme and a copy of the notice on eligibility criteria and share allocation for the employees being furnished to the SC for its record;

      (ii) a confirmation letter from CIMB that the Company:
          (a) has fulfilled all the KLSE’s conditions of approval for the Scheme and that the Bye-Laws of the Scheme do not contravene any provision in the Listing Requirements of the KLSE for the MESDAQ Market; and

          (b) has obtained other relevant approvals for the Scheme and has fulfilled any conditions imposed therein, if relevant.


      This announcement is dated 22 April 2003.


      Announcement Info

      Company NameKOTRA INDUSTRIES BERHAD (MESDAQ Market) 
      Stock Name KOTRA    
      Date Announced22 Apr 2003  
      CategoryGeneral Announcement
      Reference NoMM-030422-66386

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