1) Proposed Renewal of Shareholders’ Mandate

The Board of Directors of Willowglen MSC Berhad ("WMSC" or "the Company") wishes to announce that the Company proposes to seek its shareholders’ approval to renew the existing shareholders' mandate to allow the Company and its subsidiaries ("the Group") to enter into recurrent related party transactions ("RRPT") of a revenue or trading nature.

The Proposed Renewal of Shareholders’ Mandate, if approved at the forthcoming Annual General Meeting ("AGM"), will enable the Group to enter into the RRPT provided they are necessary for its day-to-day operations, are in the ordinary course of business, are on terms not more favourable to the related parties than those generally available to the public, and are not detrimental to the minority shareholders of WMSC.

2) Proposed Renewal of Share Buy-Back

The Board of Directors of WMSC had, during the AGM on 18 June 2009 obtained its shareholders’ approval to undertake the share buy-back exercise, to purchase up to 10% of the total issued and paid-up share capital of the Company. In accordance with the Listing Requirements governing the purchase of own shares by a listed company, the aforesaid approval will continue in force until the conclusion of the forthcoming AGM of the Company.

The Board of Directors wishes to announce that the Company proposes to seek its shareholders’ approval on the Proposed Renewal of Share Buy-Back.

3) Proposed Articles Amendments

The Board of Directors wishes to announce that the Company proposes to amend its Articles of Association.

The Proposed Articles Amendments shall be undertaken in conjunction with the proposed transfer of the listing of and quotation for the entire issued and paid-up share capital of WMSC from ACE Market to the Main Market of Bursa Securities. For the avoidance of doubt, the Proposed Transfer is not subject to shareholders’ approval.


A Circular containing the details of the abovementioned Proposals will be despatched to the shareholders of the Company together with the notice of the forthcoming AGM in due course.

This announcement is dated 24 February 2010.