【JAVA 7247 交流专区】佳华

icy97

Type	Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID	IQL-10102017-00003
Subject	PROPOSED DISPOSAL OF 100% EQUITY INTEREST IN JAVA PLANTATIONS SDN BHD TO FCB PLANTATION HOLDINGS SDN BHD FOR A TOTAL CASH CONSIDERATION OF RM5,197,118.37 SUBJECT TO ADJUSTMENTS ("PROPOSED DISPOSAL")
Description	Abbreviations used in this document are defined in the announcement dated 6 October 2017)We refer to the announcement dated 6 October 2017 and query dated 10 October 2017 pursuant to the above.
Query Letter Contents	We refer to your Company’s announcement dated 6 October 2017, in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:- 1)      Reconciliation of the net book values of the Land (between RM25.35 million and RM13.33 million) together with the explanation on the difference. 2)      Reason as to why the adoption of the comparison method as primary method by the Valuer is more fair and reasonable method. 3)      The basis in arriving at the agreed selling price of RM34.8 million. 4)      The termination clauses. 5)      The salient term of the SPA pertaining to the adjustments on the disposal consideration. 6)      Clarification on why none of the disposal proceeds are earmarked for the repayment of borrowings / term loans when the rationale for the Proposed Disposal is to reduce the Group’s gearing. To also state whether the entire Group’s borrowings consists only of Java Plantations Sdn Bhd’s (“Java Plantations”) borrowings. 7)      Revenue and profit contribution of Java Plantations to the Group based on the latest audited financial statements and the latest quarterly result.
Details of the reply are set out in the attachment below. This announcement is dated 11 October 2017.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5569957

Attachments Java - Reply to Bursa query dated 10 October 2017.pdf

icy97

De-listing of Java Berhad

JAVA BERHAD

Bursa Malaysia Securities Berhad (Bursa Securities) had disallowed Java Berhad’s further appeal for an extension of time to make the Requisite Announcement and decided to de-list the Company pursuant to paragraph 8.04 of the Bursa Securities Main Market Listing Requirements.

In the circumstances, the securities of the Company will be removed from the Official List of Bursa Securities on Monday, 23 October 2017.

Effect of De-listing from the Official List of Bursa Securities

With respect to the securities of the Company which are currently deposited with Bursa Malaysia Depository Sdn Bhd ("Bursa Depository"), the securities may remain deposited with Bursa Depository notwithstanding the de-listing of the company’s securities from the Official List of Bursa Securities. It is not mandatory for the securities of a company which has been de-listed to be withdrawn from Bursa Depository.

Alternatively, shareholders of the Company who intend to hold their securities in the form of   physical certificates can withdraw these securities from their Central Depository System (CDS) accounts maintained with Bursa Depository at anytime after the securities of the company have been de-listed from the Official List of Bursa Securities.

This can be effected by the shareholders submitting an application form for withdrawal in accordance with the procedures prescribed by Bursa Depository. These shareholders can contact any Participating Organisation of Bursa Securities and/or Bursa Securities’ General Line at 03-2034 7000 for further information on the withdrawal procedures.

Upon the de-listing of the company, the company will continue to exist but as an unlisted entity. The company is still able to continue its operations and business and proceed with its corporate restructuring and its shareholders can still be rewarded by the company’s performance. However, the shareholders will be holding shares which are no longer quoted and traded on Bursa Securities.