30 / 67
Heineken Malaysia Berhad
Company no. 5350-X
Page
15 of 51
31.
Subject to the Applicable Laws of Malaysia, a share so forfeited or
surrendered shall become the property of the Company and may be
re-sold, re-allotted or otherwise disposed of either to the person who
was before such forfeiture or surrender the holder thereof or entitled
thereto, or to any other person upon such terms and in such manner
as the Directors shall think fit, and at any time before a sale, re-
allotment or disposition the forfeiture or surrender may be cancelled
on such terms as the Directors think fit. The Directors may, if
necessary, authorise some person to transfer a forfeited or
surrendered share to any such other person as aforesaid.
Shares
forfeited
belongs to
the Company
32.
A person whose shares have been forfeited or surrendered shall cease
to be a member in respect of the forfeited or surrendered shares, but
shall, notwithstanding, remain liable to pay to the Company all
moneys which, at the date of forfeiture or surrender were payable by
him to the Company in respect of the shares (together with interest
or compensation at the rate of 8% per annum (or such lower rate as
the Directors may approve) from the date of forfeiture or surrender
on the money for the time being unpaid if the Directors think it fit to
enforce payment of such interest) but his liability shall cease if and
when the Company receives payment in full of all such moneys in
respect of the shares.
Liability on
forfeiture
33.
A statutory declaration in writing that the declarant is a Director of
the Company, and that a share in the Company has been duly forfeited
or surrendered or sold to satisfy a lien on a date stated in the
declaration, shall be conclusive evidence of the facts therein stated as
against all persons claiming to be entitled to the shares. The Company
may receive the consideration, if any, given for the share on any sale
or disposition thereof and may execute a transfer of the share in
favour of the person to whom the share is sold or disposed of, and
shall be registered as the shareholder and shall not have his title to
the share be affected by any irregularity or invalidity in the
proceedings in reference to the forfeiture, sale or other disposal of
the share. Subject to any lien for sums not presently payable, if any,
any residue of the proceeds of the sale of shares which are forfeited
and sold, after the satisfaction of the unpaid calls or instalments
payable at fixed times and accrued interest and expenses, shall be
paid to the persons entitled to the shares immediately before the
forfeiture thereof or his executors, administrators or assignees or as
he directs.
Statutory
Declaration
as conclusive
evidence and
sale of shares
forfeited
34.
The provisions of this Constitution as to forfeiture shall apply in the
case of non-payment of any sum which, by the terms of issue of a
share, becomes payable at a fixed time as if the same had been
payable by virtue of a call duly made and notified.
Application of
forfeiture
provision