BURSA ANNOUNCEMENTS

Date : 08 June 2000

ROCK CHEMICAL INDUSTRIES (MALAYSIA) BERHAD ("RCI" OR “THE COMPANY”) - PROPOSED DIVESTMENT OF 17,280,000 ORDINARY SHARES OF RM1.00 EACH REPRESENTING 60% EQUITY INTEREST IN RCI CEMENT SDN BHD (FORMERLY KNOWN AS RCI ENGINEERING SDN BHD) TO AALBORG PORTLAND WHITE A/S, A WHOLLY OWNED SUBSIDIARY OF AALBORG PORTLAND HOLDING FOR A TOTAL CASH CONSIDERATION OF USD$9,200,000 ("PROPOSED DIVESTMENT")

ROCK CHEMICAL INDUSTRIES (MALAYSIA) BHD

TypeReply to query
Reply to Query Letter by KLSE reference IDNM-000601-42821
SubjectROCK CHEMICAL INDUSTRIES (MALAYSIA) BERHAD ("RCI" OR “THE COMPANY”)
- PROPOSED DIVESTMENT OF 17,280,000 ORDINARY SHARES OF RM1.00 EACH REPRESENTING 60% EQUITY INTEREST IN RCI CEMENT SDN BHD (FORMERLY KNOWN AS RCI ENGINEERING SDN BHD) TO AALBORG PORTLAND WHITE A/S, A WHOLLY OWNED SUBSIDIARY OF AALBORG PORTLAND HOLDING FOR A TOTAL CASH CONSIDERATION OF USD$9,200,000 ("PROPOSED DIVESTMENT")

Contents :

We refer to the query letter from the KLSE dated 6 June 2000 with regards to the abovecaptioned matter. The following are the information requested:-


1. The audited net profits and net tangible assets of RCI Cement Sdn Bhd (“RCI-C”), RCI Resources Sdn Bhd (“RCI-R”) and RCI Marketing Sdn Bhd (“RCI-M”) as at 31 December 1999 are as follows:-

RCI-C
RM
RCI-R
RM
RCI-M
RM
Net profit before tax
285,301
210,581
319,570
Net profit after tax
285,301
151,581
314,143
Net tangible assets
7,134,057
2,635,072
314,497

2. On behalf of RCI, Aseambankers confirm that none of the directors, persons connected with directors or substantial shareholders have any interest, direct or indirect, in the Proposed Divestment.

3. The Conditional Sale and Purchase Agreement and Joint Venture Agreement can be inspected at the Company’s Registered Office situated at Lot 75244, Pinji Estate, 31500 Lahat, Perak Darul Ridzuan on Mondays to Fridays from 9:00a.m. to 12:00noon and 2:00p.m. to 5:00p.m.

4. No other liabilities are assumed by the acquiror arising from the Proposed Divestment and the proposed disposals of RCI-R and RCI-M to RCI-C.

5. The original cost of investment in RCI-C, RCI-R and RCI-M are shown below:-


      Subsidiary Company
      Date of Investment
      No. of shares
      Cost of Investment
      (RM)
      Cumulative Total
      No. of shares
      Cost of Investment
      (RM)
      RCI-M
      06.01.1993
      2
      2.00
      2
      2.00
      16.03.2000
      999,998
      999,998.00
      1,000,000
      1,000,000.00
      RCI-C
      29.08.1993
      99
      99.00
      99
      99.00
      27.09.1993
      1
      1.00
      100
      100.00
      10.12.1999
      6,989,000
      6,989,000.00
      6,989,100
      6,989,100.00
      24.04.2000
      21,810,910
      21,810,910.00
      28,800,000
      28,800,000.00
      RCI-R
      09.09.1994
      2
      2.00
      2
      2.00
      01.08.1995
      1,729,970
      1,729,970.00
      1,729,972
      1,729,972.00
      10.12.1999
      814,000
      814,000.00
      2,543,972
      2,543,972.00


6. The names of the directors and shareholders of Aalborg Portland White A/S and their respective shareholdings are as follows:-
      Shareholding:
      Shareholder
      Capital
      % Holding
      Aalborg Portland Holding A/S
      DKK500,000
      100% owned
      Name of Directors:

      (1) Peter Assam
      Nivavange 72
      2990 Niva

      (2) Birger Riisager
          Mosegard Park 82
          3500 Vaerlose
      (3) Soren Vinther
          Kronosvej 13
          9210 Aalborg S0

      None of the Directors have any equity interest in Aalborg Portland White A/S.

Query Letter Contents :

We refer to your announcement dated 31 May 2000 in respect of the
abovecaptioned matter.
In this connection, kindly furnish the Exchange with the following information
for public release:
1. Net profits and net tangible assets of RCI-C, RCI Resources Sdn Bhd
("RCI-R")
and RCI Marketing Sdn Bhd ("RCI-M") based on the latest audited accounts.
2. Whether persons connected with directors and substantial shareholders have
any
interest, direct or indirect , in the Proposed Divestment , and nature
and extent of
their interest.
3. Time and place where the Conditional Sales and Purchase Agreement and
Joint Venture Agreement may be inspected.
4. Particulars of liabilities to be assumed by the acquiror arising from the
Proposed
Divestment and the proposed disposals of RCI-R and RIC-M to RCI-C.
5. Original cost of investment in RCI-C, RCI-R and RCI-M to the Company and
dates
of such investment.
6. Names of directors and shareholders of Aalborg Portland White A/S and their
respective shareholdings therein.





Please furnish the Exchange with your reply within (2) market days from the
date hereof.

Yours faithfully
KUALA LUMPUR STOCK EXCHANGE

Tan Yew Eng
Senior Manager, Listing Operations
TYE/NMA


Announcement Info

Company NameROCK CHEMICAL INDUSTRIES (MALAYSIA) BHD  
Stock Name RCI    
Date Announced8 Jun 2000  
CategoryGeneral Announcement
Reference NoCU-000608-34384

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