BURSA ANNOUCEMENTS

Date : 09 April 2012

MULTIPLE PROPOSALS I-POWER BERHAD ("I-POWER" OR THE "COMPANY") I. PROPOSED CAPITAL REDUCTION; II. PROPOSED CRR REDUCTION; III. PROPOSED SHARE PREMIUM REDUCTION; IV. PROPOSED SHARE CONSOLIDATION; V. PROPOSED ACQUISITION; VI. PROPOSED BONUS ISSUE VII. PROPOSED EXEMPTION; VIII.PROPOSED OFFER FOR SALE; IX. PROPOSED PRIVATE PLACEMENT; X. PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL; XI. PROPOSED CHANGE OF NAME; AND XII. PROPOSED AMENDMENTS (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

I-POWER BERHAD

TypeAnnouncement
SubjectMULTIPLE PROPOSALS
DescriptionI-POWER BERHAD ("I-POWER" OR THE "COMPANY")

I. PROPOSED CAPITAL REDUCTION;
II. PROPOSED CRR REDUCTION;
III. PROPOSED SHARE PREMIUM REDUCTION;
IV. PROPOSED SHARE CONSOLIDATION;
V. PROPOSED ACQUISITION;
VI. PROPOSED BONUS ISSUE
VII. PROPOSED EXEMPTION;
VIII.PROPOSED OFFER FOR SALE;
IX. PROPOSED PRIVATE PLACEMENT;
X. PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL;
XI. PROPOSED CHANGE OF NAME; AND
XII. PROPOSED AMENDMENTS

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcements in relation to the Proposals dated 11 August 2011, 15 August 2011, 22 September 2011, 6 January 2012 and 30 March 2012.
We refer to the announcements made by OSK Investment Bank Berhad ("OSK"), on behalf of the Board of Directors of I-Power ("Board") on 11 August 2011, 15 August 2011, 22 September 2011, 6 January 2012 and 30 March 2012 in relation to the Proposals.
    We are pleased to advise that Bursa Malaysia Securities Berhad ("Bursa Securities") has resolved to approve the Proposals and the listing of and quotation for up to 675,685,513 new ordinary shares of RM0.10 each in I-Power to be issued pursuant to the Proposed Acquisition, Proposed Bonus Issue and the Proposed Private Placement on the ACE Market of Bursa Securities, subject to the following conditions:-
      1. To disclose the audited accounts of Instacom Group for the financial year ended ("FYE") 31 December 2011 in the Circular to Shareholders;
        2. To ensure that all information stated in Circular to Shareholders is updated to not more than one month prior to the date of the circular;

        3. All proposed directors of I-Power that have not attended the Mandatory Accreditation Programme to do so prior to listing of the consideration shares;
          4. OSK/ Company to fully comply with the relevant requirements pertaining to the implementation of the above proposals as stipulated in the ACE Market Listing Requirements;
            5. Submission of the following information in respect of the moratorium on the shareholdings of the vendors on Instacom to Bursa Malaysia Depository Sdn Bhd ("Bursa Depository"):-

                i. Name of shareholders;
                  ii. Number of shares; and
                    iii. Date of expiry of the moratorium for each block of shares;
                6. OSK/ Company to furnish a certified true copy of the relevant resolutions passed by securities holders in the general meeting;
                  7. OSK/ Company to inform Bursa Securities upon completion of the Proposals; and
                    8. OSK/ Company to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposals are completed.

                    This announcement is dated 9 April 2012.

                    Announcement Info

                    Company NameI-POWER BERHAD (ACE Market) 
                    Stock Name IPOWER    
                    Date Announced9 Apr 2012  
                    CategoryGeneral Announcement
                    Reference NoOI-120409-42704

                    Back