On behalf of the Board of
Directors of AIC, we wish to announce that the Company proposes to seek a mandate from
their shareholders at the forthcoming Annual General Meeting ("AGM") to be
convened, for the Company to be authorised to purchase on the Kuala Lumpur Stock Exchange
up to 10% of the issued and paid-up ordinary share capital of the Company pursuant to
Section 67A of the Companies Act, 1965 ("Proposed Purchase of Own Shares"),
following the expiry of the authorisation of the aforesaid matter at the conclusion of the
AGM held on 18 June 1999, which the Company did not seek renewal.
The Company’s shareholders had earlier approved the Proposed
Purchase of Own Shares by the Company during an Extraordinary General Meeting held on 8
December 1998.
The Proposed Purchase of Own Shares will be subjected to the prevailing
laws and relevant regulations, rules and guidelines as may be issued by the relevant
authorities, and the amount of distributable reserves and/or share premium reserves of the
Company.
