Reference is made to the news article published on page B2 in the Business Times entitled “Xidelang board to meet over Navis’ buyout offer” in particularly the following sentences:-
“…instead put in a rival proposal to create liquidity in the market place”
“It will be a script based reward exercise”
“….Ding will likely propose that XiDelang to undertake a bonus issue and a warrant exercise so that…..”
XDL, after having made due and diligent enquiry with the Board of Directors, major shareholder, namely HongPeng International Holdings Ltd and all such persons reasonably familiar with the above matter, wishes to inform that the Management has merely engaged in exploratory discussions with various professionals to undertake various corporate proposals to enhance value for the Company and shareholders. However, no concrete plans or proposal has been finalised at this juncture.
XDL will make the necessary announcement to Bursa Malaysia Securities Berhad (“Bursa Securities”) in a timely manner in accordance with Bursa Securities Listing Requirements, should there be any further development on this matter.