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MULTIPLE PROPOSALS BINTAI KINDEN CORPORATION BERHAD ("BINTAI" OR "COMPANY") (I) PROPOSED ACQUISITION; (II) PROPOSED DIVERSIFICATION; (III) PROPOSED PRIVATE PLACEMENT; (IV) PROPOSED ISSUANCE OF RCPS; AND (V) PROPOSED AMENDMENTS (COLLECTIVELY, THE "PROPOSALS")

BINTAI KINDEN CORPORATION BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
BINTAI KINDEN CORPORATION BERHAD ("BINTAI" OR "COMPANY") 

(I)	PROPOSED ACQUISITION;
(II)	PROPOSED DIVERSIFICATION;
(III)	PROPOSED PRIVATE PLACEMENT;
(IV)	PROPOSED ISSUANCE OF RCPS; AND
(V)	PROPOSED AMENDMENTS

(COLLECTIVELY, THE "PROPOSALS")

Unless otherwise defined in this announcement, all terms used herein shall have the same meaning as those defined in the previous announcements in relation to the Proposals.

 

On behalf of the Board, M&A Securities is pleased to announce that Bursa Securities had vide its letter dated 15 October 2021, resolved to approve the following:

 

  1. Listing and quotation of 58,536,600 Consideration Shares to be issued pursuant to the Proposed Acquisition;
  2. Listing and quotation of up to 114,567,500 Placement Shares to be issued pursuant to the Proposed Private Placement; and
  3. Listing and quotation of up to 190,946,000 Conversion Shares to be issued pursuant to the conversion of the RCPS.

 

The approval granted by Bursa Securities is subject to the following conditions:

 

  1. Bintai and M&A Securities must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposals;
  2. Bintai and M&A Securities are required to inform Bursa Securities upon the completion of the Proposals;
  3. Bintai / M&A Securities is required to furnish Bursa Securities with a certified true copy of the resolutions passed by the shareholders approving all the Proposals together with the Proposed Diversification and Proposed Amendments, prior to the listing and quotation of the Consideration Shares, Placement Shares and Conversion Shares;
  4. Bintai and M&A Securities are required to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposals are completed;
  5. Bintai must submit to Bursa Securities with details of the places in accordance with Paragraph 6.15 of the Listing Requirements as soon as practicable after each tranche of placement and before the listing of the Placement Shares; and
  6. Bintai is required to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the conversion of RCPS as at the end of each quarter together with a detail computation of listing fees payable.

 

This announcement is dated 15 October 2021.






Announcement Info

Company Name BINTAI KINDEN CORPORATION BERHAD
Stock Name BINTAI
Date Announced 15 Oct 2021
Category General Announcement for PLC
Reference Number GA1-15102021-00123




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