NOVA MSC BERHAD
12 Jun 2007
|Type||Reply to query|
|Reply to Bursa Malaysia’s Query Letter – Reference ID||MM-070611-52544|
|Subject||ARTICLE ENTITLED: “Nova expects to return to the black this year”|
We refer to the query from Bursa Malaysia Securities Berhad dated 11 June 2007 pertaining to the above news article appearing in The New Straits Times, BizNews section, page 40 on Monday, 11 June 2007.
The Company wishes to clarify that the Company has written to The New Straits Times to inform them that the quoted statement “We are planning a rights issue to raise some RM5 million…” is not factually correct. What Mr Chan meant was that besides private placement, there are other methods of fund raising which include rights issue. Currently, the company has approval to do a private placement of up to 34,517,825 new ordinary shares of RM0.10 each in the Company, representing not more than ten percent (10%) of the issued and paid-up share capital of the Company, but there is no concrete plan to do a rights issue after the private placement exercise. Funding raising from rights issue is one of the many options which the Company may consider in future.
This announcement is dated 12 June 2007.
Query Letter content:
We refer to the above news article appearing in The New Straits Times, Biznews section, page 40, on Monday, 11 June 2007, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentence, which is reproduced as follow:
“We are planning a right issue to raise some RM5 million…”
In accordance with the Securities Exchange’s Corporate Disclosure Policy, you are requested to furnish the Securities Exchange with an announcement for public release confirming or denying the above article and in particular the underlined sentence after due and diligent enquiry with all the directors, major shareholders and all such persons reasonably familiar with the matter about which the disclosure is to be made in this respect. In the event you deny the above sentence or any other part of the above reported article, you are required to set forth facts sufficient to clarify any misleading aspects of the same. In the event you confirm the above sentence or any other part of the above reported article, you are require to set forth facts sufficient to support the same.
Please furnish the Securities Exchange with your reply within one (1) market day from the date hereof.
TAN YEW ENG
c.c:- Encik Ching Tin Fah, Securities Commission (via fax)
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