annual report 2011 - Kian Ann Engineering Pte Ltd

TABLE OF CONTENTS
HEADING
PAGE NO.
DEFINITIONS .................................................................................................................................... 3
LETTER TO SHAREHOLDERS ........................................................................................................ 5
1. INTRODUCTION...................................................................................................................... 5
2. THE PROPOSED SHARE BUYBACK MANDATE .................................................................. 5
2.1 Mandate ........................................................................................................................ 5
2.2 Rationale for the Mandate.............................................................................................. 6
2.3 Terms of the Mandate .................................................................................................... 6
2.4 Status of Purchased Shares .......................................................................................... 8
2.5 Treasury Shares ............................................................................................................ 9
2.6 Reporting Requirements ................................................................................................ 9
2.7 Source of Funds for Share Buyback.............................................................................. 10
2.8 Financial Effects of the Mandate.................................................................................... 10
2.9 Taxation.......................................................................................................................... 16
2.10 Listing Rules .................................................................................................................. 16
3. DISCLOSURE OF SHAREHOLDINGS.................................................................................... 17
4. TAKE-OVER OBLIGATIONS .................................................................................................... 18
4.1 Take-over Obligations .................................................................................................... 18
4.2 Application of the Take-over Code ................................................................................ 19
5. DIRECTORS’ RECOMMENDATION ........................................................................................ 21
6. ANNUAL GENERAL MEETING .............................................................................................. 21
7. ACTION TO BE TAKEN BY SHAREHOLDERS ...................................................................... 21
8. DIRECTORS’ RESPONSIBILITY STATEMENT ...................................................................... 21
9. DOCUMENTS AVAILABLE FOR INSPECTION ...................................................................... 22
2