The Company has today converted RM28,650,000
Redeemable Convertible Unsecured Loan Stocks 2003/2008 (“RCULS”) of IJM
Plantations Berhad (“IJMP”) into 57,300,000 ordinary shares of RM0.50 each in
IJMP. With the conversion, IJMP is a 54.6% subsidiary of the Company.
None of the Directors nor
substantial shareholders of the Company, or persons connected with them, has
any interest, direct or indirect, in the conversion, and no approval of
shareholders nor the relevant authorities is required. The conversion will not
have any significant effect on the earnings or net assets per share of the
Company for the financial year ending 31 March 2008.
