OTHERS WZ Satu Berhad (“WZ Satu” or “the Company”) – Proposed Renewal of Authority for the Company to Purchase Its Own Shares (“Proposed Renewal of Share Buy-Back Authority”) and Proposed Adoption of a New Constitution of the Company (“Proposed Adoption of New Constitution”)

Reference Number  : GA1-10122018-00016 

OTHERS WZ Satu Berhad (“WZ Satu” or “the Company”) – Proposed Renewal of Authority for the Company to Purchase Its Own Shares (“Proposed Renewal of Share Buy-Back Authority”) and Proposed Adoption of a New Constitution of the Company (“Proposed Adoption of New Constitution”)

Company Name Stock Name Date Announced
WZ SATU BERHAD WZSATU 17 DEC 2018
WZ SATU BERHAD

 

 

 

 

Type Announcement
Subject OTHERS
Description
WZ Satu Berhad ("WZ Satu" or "the Company") - Proposed Renewal of Authority for the Company to Purchase Its Own Shares ("Proposed Renewal of Share Buy-Back Authority") and Proposed Adoption of a New Constitution of the Company ("Proposed Adoption of New Constitution")

WZ Satu wishes to announce that the Company is proposing to seek for the approval of its shareholders on the Proposed Renewal of Share Buy-Back Authority and Proposed Adoption of New Constitution at the forthcoming Fourteenth Annual General Meeting (“AGM”) of the Company to be convened at a date to be notified later.

 

The Proposed Renewal of Share Buy-back Authority is to renew the authority granted by the shareholders of the Company at the Thirteenth AGM held on 30 January 2018. The Proposed Renewal of Share Buy-back Authority will allow the Company to purchase its own shares of up to 10% of the total number of issued shares of the Company in accordance with Section 127 of the Companies Act 2016.

 

The Proposed Adoption of New Constitution will bring the Company’s Constitution in line with the Companies Act 2016 and the amended Main Market Listing Requirements of Bursa Malaysia Securities Berhad as well as to enhance administrative efficiency.

 

A Statement containing details in relation to the Proposed Renewal of Share Buy-back Authority and Proposed Adoption of New Constitution will be distributed to the shareholders of the Company in due course.

 

This announcement is dated 17 December 2018.