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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS SUNZEN BIOTECH BERHAD ("SUNZEN" OR THE "COMPANY") (I) PROPOSED ACQUISITION; AND (II) PROPOSED DIVERSIFICATION COLLECTIVELY, THE "PROPOSALS"

SUNZEN BIOTECH BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
SUNZEN BIOTECH BERHAD ("SUNZEN" OR THE "COMPANY")

(I) PROPOSED ACQUISITION; AND
(II) PROPOSED DIVERSIFICATION

COLLECTIVELY, THE "PROPOSALS"

Unless otherwise stated, definitions used throughout this announcement shall carry the same meaning as those defined in the announcement dated 12 January 2021.

 

Reference is made to the announcements dated 12 January 2021 and 5 February 2021.

 

On behalf of the Board of Directors of SUNZEN, M&A Securities Sdn Bhd (“M&A Securities”) is pleased to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had, vide its letter dated 1 March 2021, approved the listing of and quotation for 41,212,121 new shares in SUNZEN to be issued pursuant to the Proposed Acquisition.  The approval granted by Bursa Securities for the Proposed Acquisition is subject to the following conditions:-

 

1. SUNZEN and M&A Securities must fully comply with the relevant provisions under the ACE Market Listing Requirements (“LR”) pertaining to the implementation of the Proposed Acquisition;

 

2. SUNZEN and M&A Securities are to inform Bursa Securities upon the completion of the Proposed Acquisition;

 

3. SUNZEN is to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Acquisition is completed;

 

4. Compliance by SUNZEN with the public shareholding spread upon completion of the Proposed Acquisition.  In this connection, M&A Securities is to furnish a schedule containing the information set out in Appendix 8E, Chapter 8 of the LR to Bursa Securities prior to the allotment and issuance of the Consideration Shares; and

 

5. SUNZEN is to furnish to Bursa Securities with a certified true copy of the resolutions passed by the shareholders in general meeting approving the Proposed Acquisition and Proposed Diversification.

 

SUNZEN is required to ensure full compliance of all the requirements as provided under the LR at all times.

 

This announcement is dated 1 March 2021.






Announcement Info

Company Name SUNZEN BIOTECH BERHAD
Stock Name SUNZEN
Date Announced 01 Mar 2021
Category General Announcement for PLC
Reference Number GA1-01032021-00113




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