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PUBLIC SHAREHOLDINGS SPREAD

MALAYAN CEMENT BERHAD

Type Announcement
Subject PUBLIC SHAREHOLDINGS SPREAD
Description
MALAYAN CEMENT BERHAD ("MCB" OR "COMPANY")

ACQUISITION BY MCB OF THE ENTIRE EQUITY INTEREST OF 10 COMPANIES AND THEIR RESPECTIVE SUBSIDIARIES WHICH ARE INVOLVED IN CEMENT AND READY-MIXED CONCRETE BUSINESSES IN MALAYSIA FROM YTL CEMENT BERHAD FOR A TOTAL CONSIDERATION OF RM5,158 MILLION, SUBJECT TO ADJUSTMENTS ("ACQUISITION")

We refer to the Company's announcements dated 12 May 2021, 16 June 2021, 26 July 2021, 6 August 2021, 30 August 2021, 3 September 2021 and 21 September 2021 in relation to the Acquisition.


The Company wishes to announce that following completion of the Acquisition, the Company’s public shareholding spread decreased from 29.96% to 21.37% based on the Company’s Record of Depositors as at 22 September 2021, which is not in compliance with the public shareholding spread requirement pursuant to Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) (“Listing Requirements”).

 

However, Bursa Securities has, vide its letter dated 21 July 2021, granted the Company a period of 6 months from 22 September 2021, being the listing date of the new ordinary shares in the Company issued pursuant to the Acquisition, until 21 March 2022 to comply with the public shareholding spread requirement.

 

In relation therewith, the Company will be submitting an application to Bursa Securities for the acceptance of a lower percentage of public shareholding spread in accordance with Paragraph 2.2 of Practice Note 19 of the Listing Requirements before 21 Feb 2022.

 

This announcement is dated 23 September 2021.






Announcement Info

Company Name MALAYAN CEMENT BERHAD
Stock Name MCEMENT
Date Announced 23 Sep 2021
Category General Announcement for PLC
Reference Number GA1-23092021-00036




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