GOLSTA SYNERGY BERHAD (“THE COMPANY”)-ADDITIONAL EXPLANATORY NOTES TO THE NOTICE OF THE ELEVENTH ANNUAL GENERAL MEETING OF THE COMPANY (“ELEVENTH AGM”)
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Reference is made to the Notice of the Eleventh AGM of the Company dated 3 June 2010 wherein Authority to Issue Shares pursuant to Section 132D of the Companies Act, 1965 is proposed as a special business to be considered and, if though fit, passed at the Company’s Eleventh AGM.
The general mandate sought for the issue of securities is a renewal of a general mandate sought in the preceding year at the Tenth AGM held on 29 June 2009. The Company did not utilize the mandate sought at the Tenth AGM and therefore no proceeds were raised from the previous mandate.
The renewal of the general mandate is for possible fund raising exercise involving the issuance or placing of shares to facilitate the Company future expansion or to fund current and/or future investment project(s), working capital and/or acquisitions and thereto, to eliminate any additional cost and delays in the convening a general meeting to specifically approve such an issue of shares.