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On 12 January 2007, MEASAT Global Berhad (“MEASAT Global” or the “Company”) announced that the level of public shareholding spread of the Company as at 31 December 2006 was as follows:
Percentage of public shareholding : 21.7%
Number of public shareholders holding not less than 100 shares each : 6,616
representing a shortfall of 3.3% (“Impairment”) from the minimum public shareholding spread of 25% required under Paragraph 8.15(1) of the Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”).
The Company also made further announcements on 16 February 2007 and 30 May 2007 simultaneously with the release of its respective quarterly reports in relation to the continued impairment in its public shareholding spread.
On 27 July 2007, MEASAT Global announced that the Company had been granted an extension of time of 6 months from 12 July 2007 until 11 January 2008 by Bursa Securities to comply with the minimum public shareholding spread of 25%.
The Board of MEASAT Global wishes to announce that the level of public shareholding spread of the Company as at 6 August 2007 was as follows and remains impaired:
Percentage of public shareholding : 21.42%
Number of public shareholders holding not less than 100 shares each : 6,709
The Company's public shareholding spread remains impaired to the extent of Employees Provident Fund Board's ("EPF") direct interest of 3.57% being excluded as "public" shares pursuant to Paragraph 1.01 of the LR. EPF has a total interest of 19.01% in MEASAT Global arising from its direct interest of 3.62% and a deemed interest of 15.39%, which arises by virtue of it being a shareholder of Telekom Malaysia Berhad ("TM"). TM which is a substantial shareholder of MEASAT Global has a 15.39% of shareholding interest.
The Company had explored various options to address the impairment but none were found to be viable.
Accordingly, the Company intends to seek approval of Bursa Securities to allow a lower percentage of public shareholding spread pursuant to Paragraph 8.15(1) of the LR.
This Announcement is dated 20 August 2007.
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