This announcement is issued by OSK Investment Bank Berhad (“OSK”), on behalf of the Board of Directors of Focus Point. The expressions applied in this announcement shall have the same meanings ascribed to them as set out in the Prospectus of Focus Point dated 30 June 2010 (“Prospectus”).
We refer to the announcement dated 6 August 2010 in relation to the Exit Option, among other matters.
As at the closing of the exit window period, i.e. 12.00 noon on 16 August 2010, a total of 564 shareholders of Focus Point, collectively holding 14,622,100 Shares, had exercised the Exit Option.
Pursuant to the underwriting arrangements in place for the Exit Option, OSK had on 17 August 2010, submitted an application to Bursa Malaysia Securities Berhad (“Bursa Securities”) on behalf of Focus Point and its Promoters on the following matters:
(a) that the public shareholding spread requirement pursuant Rule 3.10(1) of the Listing Requirements which stipulates that an applicant must have at least 25% of the total number of shares for which listing is sought in the hands of a minimum number of 200 public shareholders holding not less than 100 shares each, be waived; and
(b) that the Shares underwritten by the Promoters of Focus Point pursuant to the Exit Option, which are over and above the number of Shares originally contemplated to be held by them upon the listing of Focus Point, be free of the moratorium requirement as stipulated under Rule 3.19(1)(a) of the Listing Requirements.
Bursa Securities had approved the said application on the same day subject to an undertaking to be provided by Focus Point and its Promoters that the Promoters will dispose of the additional Shares held in Focus Point arising from the underwriting of Shares as a result of the Exit Option, within six (6) months from the Company’s listing date. Subsequently, on 18 August 2010, Focus Point and its Promoters had provided their respective undertaking letters to Bursa Securities.
This announcement is dated 18 August 2010.
