Proposed Ratification For Recurrent Related Party Transactions ("RRPTS") of Certain subsidiaries of the Travel Division ("Identified Subsidiaries") Subsequent To the Disposal Of The Identified Subsidiaries ("Proposed Ratification")

BackApr 04, 2011
Date Announced
:
04/04/2011  



Type
:
Announcement
Subject
:
OTHERS

Description
:
RELIANCE PACIFIC BERHAD (“RPB” OR THE “COMPANY”)


PROPOSED RATIFICATION FOR RECURRENT RELATED PARTY TRANSACTIONS (“RRPTS”) OF CERTAIN SUBSIDIARIES OF THE TRAVEL DIVISION (”IDENTIFIED SUBSIDIARIES”) SUBSEQUENT TO THE DISPOSAL OF THE IDENTIFIED SUBSIDIARIES (“PROPOSED RATIFICATION”)

Announcement Details/Table Section :

On behalf of the Board, OSK Investment Bank Berhad is pleased to announce that the Company has on 4 April 2011 submitted a letter to Bursa Malaysia Securities Berhad to seek approval for an extension of time until 30 September 2011 for the Company to:

(i) obtain shareholders’ ratification for the RRPTs to be entered into from 1 April 2011 (being the date immediately pursuant to the Disposal) up to its forthcoming annual general meeting or extraordinary general meeting whichever is earlier to be held after the disposal of the Identified Subsidiaries not later than 30 September 2011; and

(ii) extension of time up to the forthcoming annual general meeting or extraordinary general meeting, whichever is earlier to be held after the disposal of the Identified Subsidiaries to obtain the shareholders’ mandate under Paragraph 10.09 of the Main Market Listing Requirement of Bursa Securities for the RRPTs.

This announcement is dated 4 April 2011.