| Type | Announcement |
| Subject | OTHERS |
| Description | DiGi.Com Berhad ("DiGi" or “Company”) Capital management initiatives by DiGi and its subsidiary |
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On behalf of the Board of Directors of DiGi, Hong Leong Investment Bank Berhad is pleased to announce that DiGi Telecommunications Sdn Bhd (“DiGiTel”), a wholly-owned subsidiary of DiGi, will undertake a capital distribution of approximately RM495 million to DiGi on the basis of cash repayment of RM0.99 for every 1 existing ordinary share of RM1.00 each in DiGiTel (“Proposed Capital Distribution”).
The Proposed Capital Distribution is to be implemented via a reduction of the issued and paid-up share capital of DiGiTel pursuant to Section 64 of the Companies Act 1965. Upon receipt of the cash proceeds from DiGiTel, DiGi expects to distribute approximately RM495 million (less expenses) representing RM0.064 per share to its shareholders. DiGi intends to distribute the excess proceeds to its shareholders whose names appear in the Record of Depositors of the Company on an entitlement date, and in such manner, to be determined and announced later. The Proposed Capital Distribution is subject to, amongst others, the order of the High Court of Malaya confirming the Proposed Capital Distribution and consents from lender banks and creditors of DiGiTel, if necessary. Barring any unforeseen circumstances, DiGi is expected to complete the distribution by the first quarter of 2013. The capital management initiative is undertaken by DiGi and its subsidiary to reward shareholders for their continuous support of DiGi. This announcement is dated 25 April 2012. |
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| Company Name | DIGI.COM BERHAD |
| Stock Name | DIGI |
| Date Announced | 25 Apr 2012 |
| Category | General Announcement |
| Reference No | ML-120425-38425 |
