Article Entitled: TRI Shares Up On Talk Of Deal

Back Mar 21, 2002
Type Reply to query
Reply to Query Letter by KLSE reference ID HY-020320-38473
Subject Article entitled: TRI shares up on talk of deal

Contents :

DiGi.Com Berhad (DiGi) wishes to address the specific reports in the article entitled "TRI shares up on talk of deal" appearing in the New Straits Times on 20th March 2001.


Firstly, it was reported that “ …chairman Tajudin Ramli was finalising arrangements to help technical partner DiGi.Com buy a stake from second biggest shareholder Deutsche Telekom.”

This reported statement is based on the main premise of the existence of some arrangement to buy a stake in Technology Resources Industries Berhad (TRI) from Deutsche Telekom (DT). This premise is false and is based on speculation alone.

At this point of time, DiGi is not aware of any agreement, arrangement or process in respect of the purchase of DT’s stake in TRI by DiGi.

The subsequent statements in the Article reported that:-

“ …after getting German telecom firm Deutsche Telekom’s agreement in principle to sell its 14 per cent stake to DiGi” “ DiGi ... that could go up to about 20 percent if it picked up Deutsche’s rights entitlement”

“A share swap between TRI and DiGi is then expected, completing the tie-up, which would leave DiGi with about a third of the merged shareholding”

Each of these statements stem from the main premise and consequently, for the reasons stated above, none of these statements has any foundation.

The only business arrangements involving DiGi and TRI at this point in time are the Heads of Agreement, the Joint Bid Agreement and the contract for the provision of roaming services announced on 13th March 2002. These embody the agreement to establish GSM National Roaming and facilitate the incorporation of a joint venture company for the submission of a joint 3G bid. These developments and initiatives could take the form of an alliance, joint venture or any other appropriate transaction structure. As and when the specific details of any business arrangements have been made, appropriate disclosures will be made.

Query Letter Contents :

We refer to the above article appearing on New Straits Times, Wednesday, 20
March 2001, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined
sentences, which is reproduced as follows:-
"...chairman Tajudin Ramli was finalising arrangements to help technical
partner Digi.Com buy a stake from second biggest shareholder Deutsche Telekom."
"...after getting German telecom firm Deutche Telekom's agreement in principle
to sell its 14 per cent stake to Digi."
"Digi...that could go up to about 20 percent if it picked up Deutsche's rights
entitlement."
"A share swap between TRI and DiGi is then expected, completing the tie-up,
which would leave DiGi with about a third of the merged shareholding."
In accordance with the Exchange's Corporate Disclosure Policy, you are
requested to furnish the Exchange with an announcement for public release
confirming or denying the above reported sentences after due and diligent
enquiry with all the directors, major shareholders and all such other persons
reasonably familiar with the matters about which the disclosure is to be made
in this respect. In the event you deny the above reported sentences, you are
required to set forth facts sufficient to clarify any misleading aspects of the
same. In the event you confirm the above reported sentences, you are required
to set forth facts sufficient to support the same.

Please furnish the Exchange with your reply within one (1) market day from the
date hereof.
Yours faithfully

Inderjit Singh
Senior Manager, Listing Operations
IS/WSW/THY
Copy to : Securities Commission (via fax)

 


Announcement Info

Company Name DIGI.COM BERHAD  
Stock Name DIGI    
Date Announced 21 Mar 2002  
Category General Announcement
Reference No DS-020321-49384