Details of Announcement

Contents :

1. INTRODUCTION
Aseambankers Malaysia Berhad ("Aseambankers"), on behalf of the Board of Directors of KLB, wishes to announce that the Company proposed to undertake the following proposals:-

(i) proposed shareholders' mandate for recurrent related party transactions ("RRPT") of a revenue or trading nature ("Proposed Shareholders' Mandate"); and

(ii) proposed amendments to the Memorandum and Articles of Association of the Company ("Proposed Amendments").


2. DETAILS OF THE PROPOSED SHAREHOLDERS' MANDATE

Pursuant to subparagraph 10.09(1) of the Kuala Lumpur Stock Exchange's Listing Requirements, a listed issuer may seek shareholders' mandate in respect of RRPT which are necessary for its day-to-day operations subject to the following:-
(i) the transactions are in the ordinary course of business and are on terms not more favourable to the related party than those generally available to the public; and

(ii) the shareholders' mandate is subject to annual renewal and disclosure is made in the annual report of the aggregate value of transactions conducted pursuant to the shareholders' mandate during the financial year.

The Proposed Shareholders' Mandate will take effect from the date of passing of the ordinary resolution proposed at the forthcoming Extraordinary General Meeting ("EGM") of the Company until the next Annual General Meeting ("AGM") and thereafter, approval from shareholders for a renewal of the RRPT mandate will be sought at each subsequent AGM of the Company. The passing of the ordinary resolution at the forthcoming EGM in relation to the Proposed Shareholders' Mandate shall also include the ratification of such RRPT as made by KLB and its subsidiaries prior to date of the EGM.