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SILK HOLDINGS BERHAD (“SHB”) (I)PROPOSED ESTABLISHMENT OF AN EMPLOYEES’ SHARE OPTION SCHEME (“ESOS”) (“PROPOSED ESOS” OR “SCHEME”); (II)PROPOSED VARIATION TO THE TERMS OF THE 20% 10-YEAR CUMULATIVE NON-CONVERTIBLE REDEEMABLE PREFERENCE SHARES OF RM0.10 EACH (“CN-RPS”)(“PROPOSED VARIATION”); (III)PROPOSED AMENDMENT TO THE ARTICLES OF ASSOCIATION OF SHB TO ALLOW THE COMPANY TO EXTEND ESOS OPTIONS TO ITS NON-EXECUTIVE DIRECTORS; AND (IV)PROPOSED AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF SHB (“M&A”) PURSUANT TO THE PROPOSED VARIATION (COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)

SILK HOLDINGS BERHAD

TypeAnnouncement
SubjectSILK HOLDINGS BERHAD (“SHB”)

(I)PROPOSED ESTABLISHMENT OF AN EMPLOYEES’ SHARE OPTION SCHEME (“ESOS”) (“PROPOSED ESOS” OR “SCHEME”);

(II)PROPOSED VARIATION TO THE TERMS OF THE 20% 10-YEAR CUMULATIVE NON-CONVERTIBLE REDEEMABLE PREFERENCE SHARES OF RM0.10 EACH (“CN-RPS”)(“PROPOSED VARIATION”);

(III)PROPOSED AMENDMENT TO THE ARTICLES OF ASSOCIATION OF SHB TO ALLOW THE COMPANY TO EXTEND ESOS OPTIONS TO ITS NON-EXECUTIVE DIRECTORS; AND

(IV)PROPOSED AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF SHB (“M&A”) PURSUANT TO THE PROPOSED VARIATION (COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)
ContentsOn behalf of the Board of Directors of SHB, AFFIN Investment Bank Berhad is pleased to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had, vide its letter dated 3 December 2009, approved the following:

(i)listing of such number of additional new ordinary shares of RM0.25 each in SHB (“SHB Shares”) representing up to 15% of the issued and paid-up ordinary share capital of SHB, to be issued pursuant to the exercise of options under the Proposed ESOS; and

(ii)the listing of up to 96,144,652 new SHB Shares to be issued pursuant to the Proposed Variation.

The said approval is subject to inter-alia, SHB to furnish Bursa Securities on a quarterly basis a summary of the total number of SHB Shares listed pursuant to the exercise of the ESOS options and conversion of the CN-RPS as at the end of each quarter together with detail computation of listing fees payable.

This announcement is dated 7 December 2009.


Announcement Info

Company NameSILK HOLDINGS BERHAD  
Stock Name SILKHLD    
Date Announced7 Dec 2009  
CategoryGeneral Announcement
Reference NoMI-091207-60822


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