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NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : OTHER ISSUE OF SECURITIES BINASAT COMMUNICATIONS BERHAD ("BINASAT" OR THE "COMPANY") SPECIAL ISSUE OF 17,932,200 NEW ORDINARY SHARES OF BINASAT TO BUMIPUTERA INVESTORS TO BE IDENTIFIED AND/ OR APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY ("SPECIAL ISSUE")

BINASAT COMMUNICATIONS BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
OTHER ISSUE OF SECURITIES
Description
BINASAT COMMUNICATIONS BERHAD ("BINASAT" OR THE "COMPANY")

SPECIAL ISSUE OF 17,932,200 NEW ORDINARY SHARES OF BINASAT TO BUMIPUTERA INVESTORS TO BE IDENTIFIED AND/ OR APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY ("SPECIAL ISSUE")

Unless otherwise stated, all capitalised terms set out herein shall have the same meanings as those set out in Binasat’s announcement dated 5 December 2018, 22 January 2019, 11 October 2019, 15 October 2019, 18 October 2019 and 9 December 2019, 18 December 2019, 19 December 2019 and 20 December 2019 in relation to the Special Issue (“Announcements”).

 

On behalf of the Board, Kenanga IB wishes to announce that the SC had, vide its letter dated 30 December 2019, informed that Binasat is deemed to have complied with the Bumiputera equity condition after taking note of the following:

 

(i)  The SC had, vide its letter dated 18 October 2019, approved the resultant equity structure of Binasat pursuant to the Special Issue in complying with the Bumiputera equity condition;

 

(ii)  MITI vide its letter dated 10 December 2019, had allocated a total of 17,932,200 Special Issue Shares to 109 interested Bumiputera investors;

 

(iii)  Of that allocation, only 37 out of 109 interested Bumiputera investors had subscribed for a total of 4,367,550 Special Issue Shares, at an issue price of RM0.3135 per Special Issue Share;

 

(iv)  MITI vide its letter dated 18 December 2019, informed Kenanga IB that MITI had exhausted all efforts in assisting Binasat in complying with the Bumiputera equity condition and there will be no re-allocation in the event that the Special Issue Shares were not fully subscribed; and

 

(v)  The Special Issue has been completed on 20 December 2019 following the listing and quotation of 4,367,550 Special Issue Shares on the ACE Market of Bursa Securities, as follows:

  • First tranche of 4,340,950 Special Issue Shares on 19 December 2019; and
  • Final tranche of 26,600 Special Issue Shares on 20 December 2019. 

This announcement is dated 31 December 2019






Announcement Info

Company Name BINASAT COMMUNICATIONS BERHAD
Stock Name BINACOM
Date Announced 31 Dec 2019
Category General Announcement for PLC
Reference Number GA1-31122019-00018




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