Jan 27, 2016 - Y. Bhg Tan Sri Dato' Seri Che Lodin Bin. 2,000,000. 0.8. 28,192,758. 2.73. Wok Kamaruddin. Y. Bhg Datuk A
BURSA ANNOUNCEMENT DESCRIPTION
:
BOUSTEAD HOLDINGS BERHAD (“BHB” OR “THE COMPANY”) ISSUANCE OF EXTENSION OF LETTER OF AWARD BY THE SUBSDIARY, BOUSTEAD NAVAL SHIPYARD SDN BHD (“BNS”) TO BHIC NAVALTECH SDN BHD (“BNT”)
We refer to the announcements made on 11 September 2012 and 14 January 2015. Unless otherwise stated, words and expressions used in those announcements shall have the same meaning as those attributed to them in this announcement. The Company wishes to inform that on 27 January 2016, BNS awarded another Letter dated 22 January 2016 to BNT for the purpose of extending the sub-Contract period for another 2 years, effective from 10 September 2015 (“the Extended LOA”). The consideration under the LOA and the Extended LOA has now been revised to Ringgit Malaysia Seventy One Million Ten Thousand One Hundred Sixty Six and Sen Thirty Eight (RM71,010,166.38) only, exclusive of the Goods and Services Tax. This sub-Contract constitutes a recurrent related party transaction, for which a shareholders’ mandate was obtained at the Company’s Annual General Meeting held on 6 April 2015. The direct and indirect shareholdings of the interested Directors (“Interested Directors”) and interested major shareholders (“Interested Major Shareholders”) as at 31 December 2015, in relation to the sub-Contract, are as follows: Name
Interested Major Shareholders BHB Lembaga Tabung Angkatan Tentera Interested Directors Y. Bhg Tan Sri Dato’ Seri Che Lodin Bin Wok Kamaruddin Y. Bhg Datuk Azzat Bin Kamaludin
Direct Shareholding in Indirect Shareholding in BHIC BHB No of % No of Shares % Shares 161,497,448 20,261,800
65.0 8.15
607,602,709
58.75
2,000,000
0.8
28,192,758
2.73
350,000
0.14
44,000
-
Save as disclosed above, none of the other directors or major shareholders of the Company, or persons connected, have any interest, direct or indirect, in the sub-Contract. The Board (save for the Interested Directors) is of the view that the sub-Contract and Extended LOA is in the best interest of the Company, after considering amongst others, the potential financial benefits arising from the implementation of the Contract. This announcement is dated 27 January 2016.
