Knusford Berhad ("KB" or "the Company") wishes to announce that in accordance with Chapter 10.09 of the Listing Requirements of the Bursa Malaysia Securities Berhad on Recurrent Related Party Transactions of a Revenue or Trading Nature ("RRPTs"), the Board of Directors of KB proposes to seek Shareholders' approval for the proposed renewal of Shareholders' Mandate for KB and its subsidiaries to enter into RRPTs at the forthcoming 12th Annual General Meeting ("AGM") of the Company.
At the 11th AGM of KB held on 25 June 2007, the Shareholders of the Company had granted a mandate for KB and its subsidiaries to enter into RRPTs. The said mandate if not renewed will lapse at the conclusion of the forthcoming 12th AGM.
The proposed renewal of the mandate and additional mandate will take effect from the date of passing of the relevant resolution at the forthcoming 12th AGM until the conclusion of the next AGM in 2009.
A Circular to Shareholders of KB setting out the details of the above proposal and the resolution pertaining thereto will be despatched to the Shareholders in due course.