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On behalf of the Board of Directors of DPS ("Board"), OSK Securities Berhad ("OSK") wishes to announce that the Company proposes to implement the following proposals:-
(a) Proposed transfer of the listing of and quotation for the entire issued and paid-up share capital of DPS of RM60,000,000 comprising 120,000,000 ordinary shares of RM0.50 each in DPS ("Shares") from the Second Board to the Main Board of Bursa Malaysia Securities Berhad ("Bursa Securities") ("Proposed Transfer");
(b) Proposed private placement of up to 12,000,000 new Shares, representing 10% of the issued and paid-up share capital of DPS ("Proposed Private Placement");
(c) Proposed purchase of its own ordinary shares of up to 10% of the issued and paid-up share capital of DPS ("Proposed Share Buy-Back");
(d) Proposed establishment of an employee share option scheme for the granting of options to eligible employees and/or directors of DPS and its subsidiary companies to subscribe for up to 18,000,000 new Shares representing 15% of the issued and paid-up share capital of DPS ("Proposed ESOS"); and
(e) In conjunction with the Proposed ESOS, the Board proposes that the Company’s Articles of Association be amended to allow the Company to extend the ESOS options to its Non-Executive Directors ("Proposed Amendments to the Articles").
(collectively to be referred to as the "Proposals")
Further details on the Proposals are set out in the attachment below.
This announcement is dated 21 July 2005.
