OTHERS PROGRESSIVE IMPACT CORPORATION BERHAD ("PICORP" OR "THE COMPANY") (A) PROPOSED RENEWAL OF SHAREHOLDERS' MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE (B) PROPOSED RENEWAL OF THE AUTHORITY TO THE COMPANY TO PURCHASE UP TO 10% OF THE TOTAL NUMBER OF ISSUED SHARES IN THE COMPANY
| PROGRESSIVE IMPACT CORPORATION BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | PROGRESSIVE IMPACT CORPORATION BERHAD ("PICORP" OR "THE COMPANY")
(A) PROPOSED RENEWAL OF SHAREHOLDERS' MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE
(B) PROPOSED RENEWAL OF THE AUTHORITY TO THE COMPANY TO PURCHASE UP TO 10% OF THE TOTAL NUMBER OF ISSUED SHARES IN THE COMPANY |
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The Company had at its 27th Annual General Meeting (“AGM”) held on 19 June 2019 obtained the authority from its shareholders for PICORP and its subsidiaries (“Group”) to enter into recurrent related party transactions of a revenue or trading nature which are necessary for the Group’s day-to-day operations as well as for the Company to purchase its own shares of up to ten per cent (10%) of its total number of issued shares (“Shareholders’ Mandates”).
The Shareholders' Mandates will expire at the conclusion of the forthcoming AGM of the Company. The Company intends to seek its shareholders' approval for the Proposed Renewal of Shareholders’ Mandates at the Company's 28th AGM.
The Circular and Statement to Shareholders setting out the details of the above will be sent to the shareholders of the Company in due course.
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Announcement Info
| Company Name | PROGRESSIVE IMPACT CORPORATION BERHAD |
| Stock Name | PICORP |
| Date Announced | 12 May 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-08042020-00019 |