| Type | Announcement |
| Subject | OTHERS |
| Description | Proposed Renewal of Authority for the Company to Purchase Its Own Shares |
The Board of Directors of MI TECHNOVATION BERHAD ("the Company") wishes to announce that the Company intends to seek the shareholders' approval at the forthcoming 4th Annual General Meeting ("AGM"), to be convened at a later date, for the renewal of authority for the Company to purchase its own shares not exceeding five per centum (5%) of the issued and paid-up share capital of the Company (the "Proposal").
The authority to the Company to purchase its own shares approved by the shareholders of the Company at its 3rd AGM duly held on 1 July 2020 will expire at the conclusion of the 4th AGM, unless authority for its renewal is obtained from the shareholders at the 4th AGM.
The Proposal, if approved by the shareholders at the 4th AGM, shall be valid until the conclusion of the next AGM of the Company (unless revoked or varied by a resolution of the shareholders in a general meeting of the Company).
Nevertheless, shareholders' approval for the Proposal does not impose an obligation on the Company to purchase its own shares on Bursa Malaysia Securities Berhad, rather the Proposal will allow the Board to exercise the authority granted to purchase the Company's shares as and when deemed fit within the abovementioned time period.
A Statement to shareholders containing details in relation to the Proposal will be distributed to shareholders together with the Annual Report of the Company for the financial year ended 31 December 2020.
This announcement is dated 20th day of April 2021.
The Board of Directors of MI TECHNOVATION BERHAD ("the Company") wishes to announce that the Company intends to seek the shareholders' approval at the forthcoming 4th Annual General Meeting ("AGM"), to be convened at a later date, for the renewal of authority for the Company to purchase its own shares not exceeding five per centum (5%) of the issued and paid-up share capital of the Company (the "Proposal").
The authority to the Company to purchase its own shares approved by the shareholders of the Company at its 3rd AGM duly held on 1 July 2020 will expire at the conclusion of the 4th AGM, unless authority for its renewal is obtained from the shareholders at the 4th AGM.
The Proposal, if approved by the shareholders at the 4th AGM, shall be valid until the conclusion of the next AGM of the Company (unless revoked or varied by a resolution of the shareholders in a general meeting of the Company).
Nevertheless, shareholders' approval for the Proposal does not impose an obligation on the Company to purchase its own shares on Bursa Malaysia Securities Berhad, rather the Proposal will allow the Board to exercise the authority granted to purchase the Company's shares as and when deemed fit within the abovementioned time period.
A Statement to shareholders containing details in relation to the Proposal will be distributed to shareholders together with the Annual Report of the Company for the financial year ended 31 December 2020.
This announcement is dated 20th day of April 2021.
| Company Name | MI TECHNOVATION BERHAD |
| Stock Name | MI |
| Date Announced | 20 Apr 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-14042021-00061 |