OTHERS Hap Seng Plantations Holdings Berhad ("HSP" or the "Company") 1) Proposed renewal of and new shareholders mandate for recurrent related party transactions of a revenue or trading nature ("Proposed RRPTs Mandate"); and 2) Proposed renewal of authority for the Company to purchase its own shares ("Proposed Renewal of Share Buy-back Authority") (Collectively referred to as the "Proposals")
| HAP SENG PLANTATIONS HOLDINGS BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | Hap Seng Plantations Holdings Berhad ("HSP" or the "Company")
1) Proposed renewal of and new shareholders mandate for recurrent related party transactions of a revenue or trading nature ("Proposed RRPTs Mandate"); and
2) Proposed renewal of authority for the Company to purchase its own shares ("Proposed Renewal of Share Buy-back Authority")
(Collectively referred to as the "Proposals") |
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The board of directors of HSP wishes to announce that the Company intends to seek its shareholders' approval on the Proposals at the forthcoming 17th annual general meeting ("AGM 2024") to be convened:-
1. Proposed RRPTs Mandate
During the annual general meeting ("AGM") held on 24 May 2023, the Company obtained a general mandate from its shareholders pursuant to Paragraph 10.09 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad ("Listing Requirements") which authorised HSP and its subsidiaries ("HSP Group") to enter into recurrent related party transactions of a revenue or trading nature which are necessary for the day-to-day operations of HSP Group ("RRPT"). The said mandate shall lapse upon conclusion of the forthcoming AGM 2024 of the Company unless it is renewed.
The Company will be seeking a renewal of and new mandate from its shareholders at the AGM 2024 for HSP Group to enter into RRPT during the mandate period commencing from the date of the AGM 2024 and expiring upon the conclusion of the next AGM.
2. Proposed Renewal of Share Buy-back Authority
During the AGM held on 24 May 2023 the Company obtained authorisation from its shareholders for the Company to purchase and/or hold its own shares up to a maximum of 10% of the issued share capital of the Company. The said authorisation shall lapse upon conclusion of the forthcoming AGM 2024 of the Company unless it is renewed.
The Company will be seeking a renewal of shareholders' authorisation at the AGM 2024 to enable the Company to purchase and/or hold its own shares up to a maximum of 10% of the Company's issued share capital during the mandate period commencing from the date of the AGM 2024 and expiring upon conclusion of the next AGM.
Circular to Shareholders and Share Buy-back Statement
Both the Circular to Shareholders and Share Buy-back Statement setting out the details of the Proposals will be issued to the shareholders of the Company in due course.
cc: Securities Commission |
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Announcement Info
| Company Name | HAP SENG PLANTATIONS HOLDINGS BERHAD |
| Stock Name | HSPLANT |
| Date Announced | 15 Apr 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-12042024-00018 |