News

The Board of Directors of QL Resources Berhad (“QL” or “the Company”) wishes to announce that the actual value of the recurrent related party transactions of a revenue or trading nature (“RRPT”) transacted between QL Livestock Farming Sdn. Bhd. (“QLLF”) and Green Breeder Sdn. Bhd. (“GB”) have exceeded the mandate value by 10% or more.

QLLF obtained the renewal of shareholders’ mandate for its RRPT with GB at the Company’s Annual General Meeting held on 22 August 2014 (“2014 AGM”). The approved mandate value of the RRPT for the period from 22 August 2014 to the next AGM in 2015 is RM15,000,000. The said mandate will be expiring at the Company’s forthcoming Annual General Meeting to be held in August 2015.

However, the transaction value of the RRPT for the period from 23 August 2014 to 15 June 2015 stood at approximately RM17,262,000, which has exceeded 10% of the aforesaid approved mandate value. The details of the abovementioned deviation are as follows:-

Nature of transaction: Sale of animal feed by QL Livestock Farming Sdn. Bhd. to Green Breeder Sdn. Bhd.

This announcement is dated 6 July 2015.