LINEAR CORPORATION BERHAD (“LINEAR” OR THE “COMPANY”) PROPOSED ACQUISITION OF 100% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF LIS-TEC SDN BHD (“LIS-TEC”) FOR A PURCHASE PRICE OF UP TO RM32,000,000 TO BE SATISFIED FULLY VIA THE ISSUE AND ALLOTMENT...

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Submitting Merchant Bank
:
 KENANGA INVESTMENT BANK BERHAD
Company Name
:
 LINEAR CORPORATION BERHAD
Stock Name
:
 LINEAR
Date Announced
:
 16/09/2008



Type
:
 Announcement
Subject
:

LINEAR CORPORATION BERHAD (“LINEAR” OR THE “COMPANY”)

PROPOSED ACQUISITION OF 100% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF LIS-TEC SDN BHD (“LIS-TEC”) FOR A PURCHASE PRICE OF UP TO RM32,000,000 TO BE SATISFIED FULLY VIA THE ISSUE AND ALLOTMENT OF UP TO 32,000,000 NEW ORDINARY SHARES OF PAR VALUE RM1.00 EACH IN LINEAR AT AN ISSUE PRICE OF RM1.00 PER SHARE (“PROPOSED ACQUISITION”)

Contents
:

We refer to the announcement dated 14 July 2008 in relation to the Proposed Acquisition wherein it was announced, among others, that Linear had on the same date, entered into a conditional shares sale and purchase agreement (“SSA”) with Ooi Ling See, Ng It Seng, Brian Andrew Fernandes and Lee Saw Im (collectively, the “Vendors”) for the Proposed Acquisition.

In this regard, on behalf of the Board of Director of Linear (“Board”), Kenanga Investment Bank Berhad, wishes to announce that Linear and the Vendors have mutually terminated the Proposed Acquisition vide a termination agreement dated 12 September 2008 (“Termination Agreement”).

The termination was mutually agreed between the parties in view of the non completion of one of the condition precedent as stipulated in the SSA.

Pursuant to the Termination Agreement, all parties agreed that the SSA shall be rendered null and void and neither party shall have any further claims against each other in relation to the SSA.



This announcement is dated 16 September 2008.