EVERGREEN FIBREBOARD BERHAD ("the Company" or "EFB") RECURRENT RELATED PARTY TRANSACTIONS ("RRPT") OF A REVENUE OR TRADING NATURE PURSUANT TO PARAGRAPH 10.09(2)(e) OF THEMAIN MARKET LISTING REQUIREMEN

General Announcement
Reference No CC-091207-30AF8

 

Company Name
:
 EVERGREEN FIBREBOARD BERHAD
Stock Name
:
 EVERGRN
Date Announced
:
 07/12/2009



Type
:
 Announcement
Subject
:
EVERGREEN FIBREBOARD BERHAD ("the Company" or "EFB")
RECURRENT RELATED PARTY TRANSACTIONS ("RRPT") OF A REVENUE OR TRADING NATURE PURSUANT TO PARAGRAPH 10.09(2)(e) OF THE
MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA
SECURITIES BERHAD

Contents
:
Reference is made to EFB's Circular to Shareholders relating to the Proposed Renewal of Shareholder Mandate and New Shareholder Mandate for RRPT of a revenue or trading nature ("Proposed Mandate") dated 1 June 2009 ("the RRPT Circular"). The ordinary resolution on the Proposed Mandate had been approved by the shareholders of EFB at the Annual General Meeting held on 30 June 2009.

Pursuant to Paragraph 10.09(2)(e) of Bursa Malaysia Securities Berhad Main Market Listing Requirements and Paragraph 2.5 of Practice Note 12, EFB now wishes to announce the variation in the actual value of the RRPT transacted with EFB's wholly-owned subsidiary, Siam Fibreboard Co., Ltd ("SFC") and an associate company of EFB, Dawa Timber Industries (M) Sdn. Bhd. ("DTI") from the estimated value as disclosed in the RRPT Circular as set out in Table A below.

The excess in transacted amount was contributed by actual purchase of Medium Density Fibreboard ("MDF") were higher than the anticipated level of business related activities.

Announcement Details :

 

Nature of
Transactions
Estimated aggregate
value as disclosed in the
RRPT Circular to shareholders dated 1 June 2009

"Estimated Value"
(RM'000)
Actual value transacted from
30 June 2009 to
30 November 2009

"Actual Value"
(RM'000)
% of variance of
Actual Value from
Estimated Value
Purchase MDF from SFC
3,000
3,324
10.8%
06-Jun-2011