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OTHERS PROPOSED SELECTIVE CAPITAL REDUCTION AND REPAYMENT EXERCISE OF MMC CORPORATION BERHAD ("MMC") PURSUANT TO SECTION 116 OF THE COMPANIES ACT 2016 (PROPOSED SCR)

MMC CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description
PROPOSED SELECTIVE CAPITAL REDUCTION AND REPAYMENT EXERCISE OF MMC CORPORATION BERHAD ("MMC") PURSUANT TO SECTION 116 OF THE COMPANIES ACT 2016 (PROPOSED SCR)

The Board of MMC (“Board”) wishes to announce that the Company has today received a letter from its controlling shareholder, Seaport Terminal (Johore) Sdn Bhd (“STJSB” or “Offeror”), requesting the Company to undertake a selective capital reduction and repayment exercise pursuant to Section 116 of the Companies Act 2016 (“SCR Offer Letter”).

The Proposed SCR entails a selective capital reduction and a corresponding capital repayment of a proposed cash amount of RM2.00 for each ordinary share in MMC held by all shareholders of MMC (other than STJSB and persons acting in concert with them) whose names appear in the Record of Depositors of MMC as at the close of business on an entitlement date to be determined and announced later by the Board.

The Board, save for Sharifah Sofia Syed Mokhtar Shah who is an interested director, will deliberate on the Proposed SCR and decide on the next course of action. Accordingly, a further announcement will be made in due course after the Board’s deliberation.

Please refer to the SCR Offer Letter for further details on the Proposed SCR.

This announcement is dated 3 June 2021.

 




Please refer attachment below.

Attachments

Bursa - Atachment Offer.pdf
399.5 kB



Announcement Info

Company Name MMC CORPORATION BERHAD
Stock Name MMCCORP
Date Announced 03 Jun 2021
Category General Announcement for PLC
Reference Number GA1-03062021-00062




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