TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RECURRENT RELATED PARTY TRANSACTIONS ORNAPAPER BERHAD ("ORNA" or "the Company") - Recurrent related party transactions - variation between actual value and estimated value by 10% or more
|Subject||TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RECURRENT RELATED PARTY TRANSACTIONS
ORNAPAPER BERHAD ("ORNA" or "the Company") - Recurrent related party transactions - variation between actual value and estimated value by 10% or more
The Company had at its 15th Annual General Meeting held on 24 May 2017 obtained a mandate from its shareholders for sale of corrugated carton boxes to a related party, namely Julie’s Manufacturing Sdn. Bhd. (formerly known as Greatbrand Food Industries Sdn. Bhd.). The recurrent related party transaction of a revenue or trading nature ("RRPT") was disclosed in the Company's circular to shareholders dated 28 April 2017 in relation to the proposed shareholders' mandate for RRPTs ("Circular").
Pursuant to Paragraph 10.09(2)(e) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of the Company wishes to announce that the actual value of the RRPT has exceeded the estimated value of RRPT disclosed in the Circular by more than 10%.
Further details are set out in the attachment.
This announcement is dated 10 April 2018.
Please refer attachment below.
|Company Name||ORNAPAPER BERHAD|
|Date Announced||10 Apr 2018|
|Category||General Announcement for PLC|