GHL System Berhad Annual Report 2017

GHL SYSTEMS BERHAD 144 13. Public Shareholding Spread The Proposed Share Buy-Back will be carried out in accordance with the prevailing law at the time of the purchase including compliance with 25% public shareholding spread in the hands of public shareholders as required under Paragraph 12.14 of the Listing Requirements. As at 21 March 2018, the public shareholding spread of the Company was 34.63%. In implementing the Proposed Share Buy-Back, the Company will ensure that the minimum public shareholding spread of 25% is complied with. 14. Director Statement and Recommendation After having considered all aspects of the Proposed Shares Buy-Back, your Board of Directors is of the opinion that the Proposed Shares Buy-Back is in the best interest of the Company. Accordingly, they recommend that you vote in favour of the ordinary resolution for the Proposed Shares Buy-Back to be tabled at the forthcoming 24th Annual General Meeting. 15. Responsibility Statement This Statement has been seen and approved by the Board and they collectively and individually accept full responsibility for the accuracy of the information given herein and confirm that, after making all reasonable enquiries and to the best of their knowledge and belief, there are no other facts, the omission of which would make any statement herein misleading. 16. Documents Available For Inspection Copies of the following documents will be available for inspection at the registered office of the Company at Unit 30-01, Level 30, Tower A, Vertical Business Suite, Avenue 3, Bangsar South, No. 8, Jalan Kerinchi, 59200 Kuala Lumpur during normal office hours from Monday to Friday (except for public holidays) from the date of this Statement up to and including the date of the forthcoming AGM: (i) Memorandum and Articles of Association of GHL; and (ii) The audited consolidated financial statements of GHL for the past two (2) financial years ended 31 December 2016 and 2017 respectively. 17. Further Information There is no other information concerning the Proposed Renewal of Share Buy-Back Mandate as shareholders and other professional advisers would reasonably require and expect to find in the Statement for the purpose of making informed assessment as to the merits of approving the Proposed Renewal of Share Buy-Back Mandate and the extent of the risks involved in doing so. STATEMENT TO SHAREHOLDERS In relation to the Proposed Renewal of Authority for the Company to Purchase its own Ordinary Shares CONT’D