Financial News 2009

8 December 2009

Proposed Rights Issue and Proposed Increase in Authorised Share Capital

On behalf of the Company, Maybank Investment Bank Berhad (formerly known as Aseambankers Malaysia Berhad) is pleased to announce that Pelikan had on 8 December 2009, entered into an underwriting agreement with Maybank IB, RHB Investment Bank Berhad, and MIMB Investment Bank Berhad (collectively referred to as the "Underwriters") whereby the Underwriters would underwrite 58,000,000 Rights Shares or approximately 33.80% of 171,584,420 total Rights Shares.

Notwithstanding the additional 18,000,000 Rights Shares underwritten by the Underwriters, the Minimum Subscription Level for the Proposed Rights Issue of 97,579,074 Rights Shares remains unchanged. The provision of the unconditional undertakings from some shareholders of the Company to subscribe for the Rights Shares totalling 33.56% ("Shareholders' Undertakings") and the conditional undertaking of Lembaga Tabung Haji ("LTH's Conditional Undertaking") to subscribe for the Rights Shares totalling 29.91% do not form part of the abovementioned Rights Shares to be underwritten by the Underwriters. However, the entitlement of H Partners Management LLC to the Rights Shares totalling 6.17% will be underwritten by the Underwriters.

Based on the foregoing, the Proposed Rights Issue of the Company has received approximately 97.26% support based on the unconditional Shareholders' Undertakings, LTH's Conditional Undertaking and the abovesaid underwriting arrangement.

30 November 2009

On behalf of the Company, CIMB Investment Bank Berhad (“CIMB”) wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had through its letter dated 30 November 2009 approved the listing of such number of additional new ordinary shares of RM1.00 each, representing up to 5% of the issued and paid-up ordinary share capital of PICB, to be issued pursuant to the exercise of the options under the ESOS subject to the receipt of confirmation from CIMB to Bursa Securities of full compliance of the ESOS pursuant to paragraph 6.43(1) of the Main Market Listing Requirements of Bursa Securities and the effective date of implementation together with a certified true copy of the resolution passed by the shareholders of PICB in a general meeting.

17 November 2009

Update on Proposals

On behalf of the Company, Maybank Investment Bank Berhad (formerly known as Aseambankers Malaysia Berhad) is pleased to announce that BaFin had on 16 November 2009 confirmed the final Offer Price for all Herlitz Shares pursuant to the Proposed Takeover Offer to be at €1.90 (RM9.60) per Herlitz Shares.

The purchase consideration for the Proposed Takeover Offer based on the final Offer Price of Euro 1.90 (RM9.60) for the 3,709,237 Herlitz Shares and assuming the 584,705 Herlitz Options are exercised into Herlitz Shares is €7,047,550 (RM35,590,128) and €1,110,940 (RM5,610,247) respectively. Nevertheless, it is reasonably remote for the 584,705 Herlitz Options to be exercised into new Herlitz Shares as the Offer Price is lower than the exercise price of €4.26 (RM21.51) per Herlitz Option.

9 November 2009

Announcement of Proposed Acquisitions of Herlitz AG and its Group Companies, and the Proposed Voluntary General Offer by Pelikan to all Shareholders of Herlitz AG

On behalf of the Board of Directors of Pelikan International Corporation Berhad, Maybank Investment Bank Berhad (formerly known as Aseambankers Malaysia Berhad) announced that the Company proposes to undertake the Proposals (as defined herein), the details of which are set out here.

21 October 2009

Announcement of Proposed Rights Issue and Proposed Increase in Authorised Share Capital

On behalf of the Board of Directors of Pelikan International Corporation Berhad, Maybank Investment Bank Berhad (formerly known as Aseambankers Malaysia Berhad) announced that the Company proposes to undertake the Proposed Rights Issue and Proposed Increase in Authorised Share Capital, the details of which are set out here.

9 September 2009

Change in Boardroom

Pelikan International Corporation Berhad has announced the appointment of a new board of director, Datuk Ismee bin Ismail, a Malaysian aged 44 years. He will serve as a non-independent and non-executive director. He is an associate member of the Chartered Institute of Management Accountants and a member of the Malaysian Institute of Accountants (MIA). He is presently the Group Managing Director and Chief Executive Officer of Lembaga Tabung Haji. Prior to that, he was the Chief Executive Officer of ECM Libra Securities Sdn. Bhd. and a Director of ECM Libra Capital Sdn. Bhd. He has also served several organisations namely as Senior General Manager of Finance at Lembaga Tabung Haji; Chief Accountant at Pengurusan Danaharta Nasional Berhad; General Manager of Business Development at Arab Malaysian Development Bhd, and has held several finance-related positions at Shell Malaysia. Currently, he is a Director of TH Plantations Berhad, KFC Holdings (Malaysia) Bhd, BIMB Holdings Berhad, and Bank Islam Malaysia Berhad.

18 May 2009

Pelikan Group Announces Dividend and Releases Notice of 27th Annual General Meeting

The 27th Annual General Meeting of Pelikan International Corporation Berhad will be held at Sunway Resort Hotel & Spa, Caymans 1, Level 10, Persiaran Lagoon, Bandar Sunway, 46150 Petaling Jaya, Selangor Darul Ehsan, Malaysia on Wednesday, 10 June 2009 at 11.00 a.m. Please refer to the attachment for Notice of 27th Annual General Meeting here.

Also announced is that Pelikan International recommended a final single tier dividend of 2 sen per share for the financial year ended 31 December 2008. Subject to approval by shareholders at the forthcoming 27th Annual General Meeting on 10 June 2009, the final dividend will be paid on 8 September 2009.

14 January 2009

Pelikan Group Announces Proposed Acquisition in Colombia

Pelikan International Corporation Berhad ("PICB") has announced that Productos Pelikan S.A. de C.V. (“Pelikan Mexico”), a 93.82% subsidiary of PICB, had on 13 January 2009, entered into a Stock Purchase Agreement with Inversiones HW Joecker Ltda., Nora Helen Redeker Joecker (deceased Estate) and Werner Curt Joecker Redeker (collectively “Vendors”) to acquire 80.5% equity interest in Indistri S.A., Colombia (“Pelikan Colombia”) for a cash consideration of USD4,250,000 (RM15.2 million) (“Proposed Acquisition”). Indistri was incorporated in Colombia on 19 September 1959 and has an issued capital stock of COP7,250,849,000 comprising 7,250,849,000 Shares. The principal activity of Pelikan Colombia is the manufacturing and distribution of office, schools and stationery supplies.

The Proposed Acquisition will not have any effect on the share capital and substantial shareholders' shareholding of PICB. The Proposed Acquisition will not have any material effect on the net assets of the PICB Group. The Proposed Acquisition is expected to have a positive impact on the future earnings of the PICB Group.
None of the Directors, major shareholders and persons connected with a Director or major shareholder of PICB has any interest, direct or indirect, in the Proposed Acquisition. The Board of Director is of the opinion that the Proposed Acquisition is in the best interest of PICB.