APM AUTOMOTIVE HOLDINGS BERHAD (“the Company” or “APM”) - Notice from Tan Chong Consolidated Sdn Bhd
The Board of Directors of the Company wishes to announce that on 23 June 2009, the Company received a letter from Tan Chong Consolidated Sdn Bhd (“TCC”), a substantial shareholder of the Company, informing the Company that TCC and the shareholders of TCC have reached a compromise and settlement agreement in relation to the disputes between and amongst them based on a progressive release of a portion of the shares in APM to the exiting minority shareholders of TCC with TCC retaining at least 33% of the voting shares in APM with a right of first refusal granted to TCC to acquire any of the shares which such exiting minority shareholders may subsequently choose to dispose of.