Proposed Authority For Directors' To Allot And Issue New Ordinary Shares Up To 15% Of The Total Issued And Paid-Up Share Capital Linear Corporation Berhad ("Linear")Pursuant To Linear's Employees' Share Option Scheme ("ESOS") And Proposed Allocation Of...

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Type
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 Announcement
Subject
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Proposed Authority For Directors' To Allot And Issue New Ordinary Shares Up To 15% Of The Total Issued And Paid-Up Share Capital Linear Corporation Berhad ("Linear")Pursuant To Linear's Employees' Share Option Scheme ("ESOS") And Proposed Allocation Of Options To The Company's Directors Pursuant To The ESOS

Contents
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Linear Corporation Berhad ("Linear" or "the Company") wishes to announce that its Board of Directors has, on 13 May 2008 resolved to :-

1. extend the duration of the Company's Employees' Share Options Scheme ("ESOS") which was implemented on 14 August 2003, for another five (5) year up to the maximum duration of ten (10) years, expiring on 13 August 2013 ;

2. increase the total number of new ordinary shares in the Company available for allotment and issuance pursuant to the exercise of options under the ESOS from 10% to 15% of the total issued and paid-up share capital of the Company at any point in time ; and

3. include non-executive directors and independent non-executive directors of the Company to participate as eligible employees in the ESOS ;

and has, accordingly, on the same 13 May 2008, amended the By-Laws governing the ESOS to give effect to the aforesaid.

Announcement Details :


In pursuance thereof, the Board wishes to seek approval from the Company's shareholders, at the forthcoming 14th Annual General Meeting ("AGM") to be held not later than 30 June 2008, for the Directors to allot and issue new ordinary shares in the Company up to 15% of the total issued and paid-up share capital of the Company at any point in time pursuant to the exercise of options granted under the ESOS ("Proposed Allotment of Shares").

The Board wishes to seek further approval from the Company's shareholders, at the same 14th AGM, for the proposed allocation of options to the Company's Directors, namely, Mr Alan Rajendram A/L Jeya Rajendram (Executive Chairman), Mr Eswaramoorthy Pillay S/O Amuther (Executive Director), Mr Mevin Nevis A/L AF Nevis (Group Chief Operating Officer), Mr Pervez Rustim Manecksha @ Paul Manecksha (Independent Non-Executive Director) , Mr Heinrich August Diehl (Independent Non-Executive Director) and Mr Kok Seng Loong (Independent Non-Executive Director) pursuant to the ESOS ("Proposed Allocation of Options to Directors").

A Circular To Shareholders setting out the details of the Proposed Allotment of Shares and Proposed Allocation of Options to Directors will be sent to shareholders in due course.