A Berhad obtains a general mandate from its shareholders on 3 September 2009 for among others, RRPT with its major shareholder, Mr. X, as follows:
the actual value of the RRPT entered into by A Berhad with Mr. X up to 3 June 2010 is RM8 million, what is the obligation of A Berhad under the ACE LR in regard to under the Main LR in regard to the deviation between the estimated and actual value of the RRPT?
Since the actual value of the RRPT entered into by A Berhad with Mr. X exceeds the estimated value of the RRPT by 10% or more, A Berhad must immediately announce the deviation to Bursa Securities pursuant to Rule 10.09(2)(e) of the ACE LR ("Announcement 1"). A Berhad must include in Announcement 1 the information set out in Annexure GN8-B of Guidance Note 8.
up to 15 July 2010, the actual value of the RRPT entered by A Berhad with Mr. X has increased to RM8.6 million, must A Berhad announce the RRPT again?
No, A Berhad is only required to announce the RRPT again when there is an increment of at least RM0.7 million (i.e. 10% of the general mandate estimated value of RM7 million) to the actual amount disclosed in Announcement 1.