Kuala Lumpur, 28 June 2006
YTL Corporation Berhad's proposal for the issuance of up to USD$300 million nominal value five-year guaranteed exchangeable bonds received unanimous support from its shareholders today.
YTL Corp executive chairman Tan Sri Dato' Seri (Dr) Yeoh Tiong Lay chaired the extraordinary general meeting at the JW Marriott Hotel Conference Centre this afternoon with YTL Corp managing director Tan Sri Dato (Dr) Francis Yeoh and the board of directors and shareholders in attendance.
The EGM saw the approval for the proposed issue of up to USD$300 million nominal value five-year guaranteed exchangeable bonds which are exchangeable into new ordinary share of RM0.50 each in YTL Corp. by YTL Corp Finance (Labuan) Ltd, a proposed wholly-owned subsidiary of YTL Corp to be incorporated in the Federal Territory of Labuan.
After the meeting, Tan Sri Francis Yeoh thanked the shareholders for their unanimous support, and added: "This puts YTL in a strategic position for some M&A (merger and acquisition) activities globally and locally."