TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS KOBAY TECHNOLOGY BHD (“KOBAY” OR “THE COMPANY”) PROPOSED PRIVATISATION OF MAJOR SUBSIDIARY, LIPO CORPORATION BERHAD (“LIPO”) BY WAY OF A PROPOSED SELECTIVE CAPITAL REDUCTION AND REPAYMENT EXERCISE UNDER SECTION 64 OF THE COMPANIES ACT, 1965 TO BE UNDERTAKEN BY LIPO (“PROPOSED SCR”)

Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 22 Mar 2012
Category: General Announcement
Reference Number: OI-120322-62229

Type: Announcement
Subject: TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)NON RELATED PARTY TRANSACTIONS
Description:
KOBAY TECHNOLOGY BHD (“KOBAY” OR “THE COMPANY”)

PROPOSED PRIVATISATION OF MAJOR SUBSIDIARY, LIPO CORPORATION BERHAD (“LIPO”) BY WAY OF A PROPOSED SELECTIVE CAPITAL REDUCTION AND REPAYMENT EXERCISE UNDER SECTION 64 OF THE COMPANIES ACT, 1965 TO BE UNDERTAKEN BY LIPO (“PROPOSED SCR”)

On behalf of the Board of Directors of Kobay, OSK Investment Bank Berhad wishes to announce that the Company had on 22 March 2012 issued a letter to the board of Lipo to privatise Lipo by way of a selective capital reduction and repayment exercise under Section 64 of the Companies Act, 1965 to be undertaken by Lipo.

Further details on the Proposed SCR are set out in the attachment enclosed.

This announcement is dated 22 March 2012.

Attachments :
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