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A. Proposed Restructuring Scheme of Ancom Logistics Berhad ("ALB")(formerly known as Tamco Corporate Holdings Berhad), a subsidiary of the Company ;
B. Proposed Acquisition of Property ; and
C. Proposed Disposal of Synergy Trans-Link Sdn Bhd
(B and C collectively referred to as "Ancom Proposals")

BackJun 25, 2010
Date Announced
:
 25/06/2010  




Type
:
 Announcement
Subject
:
ANCOM BERHAD ("Ancom" or "Company")
A. Proposed Restructuring Scheme of Ancom Logistics Berhad ("ALB")(formerly known as Tamco Corporate Holdings Berhad), a subsidiary of the Company ;
B. Proposed Acquisition of Property ; and
C. Proposed Disposal of Synergy Trans-Link Sdn Bhd
(B and C collectively referred to as "Ancom Proposals")

Contents
:
For consistency, the abbreviations used hereafter throughout this announcement shall have the same meaning as defined in the announcements dated 16 November 2009, 4 January 2010 and 5 January 2010 respectively unless stated otherwise.

Further to the Company's announcements dated 16 November 2009, 4 January 2010 and 5 January 2010, Ancom wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") has, via its letter dated 24 June 2010, approved the Proposed Restructuring Scheme of ALB subject to the following conditions:

(i) A moratorium to be imposed on the Consideration Shares pursuant to the Proposed Acquisition of STL Group by ALB in the manner disclosed in Section 3.19 of the Ace Market Listing Requirements (“ACE Listing Requirements”);

(ii) ALB and its advisers must fully comply with the relevant provisions under the ACE Listing Requirements pertaining to the implementation of the Proposed Restructuring Scheme of ALB ;

(iii) ALB and its advisers to inform Bursa Securities upon completion of the Proposed Restructuring Scheme of ALB ; and

(iv) ALB to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Restructuring Scheme of ALB is completed.

Further details of the approval are in ALB's announcement dated 25 June 2010 to Bursa Securities.

This announcement is dated 25 June 2010.

Announcement Details :