General Announcement
Reference No: CU-060730-51825
Stock Name : ECMLIB
Date Announced : 08/08/2006
Type : Announcement
Content :

(I) Merger between ECM Libra and Avenue Capital Resources Berhad of the acquisitions by ECM Libra Avenue Berhad (formerly known as Avenue International Capital Berhad) ("ECM") of the operating subsidiaries of ECM Libra, wholly satisfied by the issuance of 442,000,000 new ordinary shares in ECM credited as fully paid-up ("Merger"); and

(II) Distribution of 433,000,000 ECM shares ("ECM Shares") received by ECM Libra pursuant to the Merger ("Distribution"), to shareholders of ECM Libra on the basis of 1 ECM share for 1 ECM Libra share held and capital reconstruction exercise involving a reduction in the par value of the share capital of ECM Libra, the utilisation of the share premium account and the setting-off of accumulated losses pursuant to the Merger and thereafter the consolidation of the shares to a par value of RM0.10 per share ("Capital Reconstruction").

Further to the announcement dated 30 June 2006, Aseambankers Malaysia Berhad, on behalf of ECM Libra, is pleased to announce that the Distribution and Capital Reconstruction have been completed on 8 August 2006.

With the completion of the Distribution and the Capital Reconstruction, the issued and paid-up share capital of ECM Libra has been reduced from 433,000,000 ordinary shares of RM1.00 each to 99,016,000 ordinary shares of RM0.10 each.

This announcement is dated 8 August 2006.

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