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Circular/Notice to Shareholders

BINTAI KINDEN CORPORATION BERHAD

Subject CIRCULAR TO SHAREHOLDERS IN RELATION TO THE (A) PROPOSED ACQUISITION OF THE ENTIRE EQUITY INTEREST IN JOHNSON MEDICAL INTERNATIONAL SDN BHD FOR A TOTAL PURCHASE CONSIDERATION OF RM50,000,000 TO BE SATISFIED VIA A COMBINATION OF CASH PAYMENT OF RM26,000,000 AND THE REMAINING PURCHASE CONSIDERATION OF RM24,000,000 TO BE SATISFIED VIA THE ISSUANCE AND ALLOTMENT OF 58,536,600 NEW ORDINARY SHARES IN BINTAI ("BINTAI SHARE(S)" OR "SHARE(S)") AT THE ISSUE PRICE OF RM0.41 PER SHARE ("PROPOSED ACQUISITION"); (B) PROPOSED DIVERSIFICATION OF BINTAI'S EXISTING BUSINESS TO INCLUDE THE: (I) PROPERTY DEVELOPMENT BUSINESS SEGMENT; AND (II) PROPERTY MANAGEMENT BUSINESS SEGMENT WHICH INCLUDES THE MANAGEMENT OF CONDOTEL; (C) PROPOSED PRIVATE PLACEMENT OF UP TO 114,567,500 NEW BINTAI SHARES REPRESENTING APPROXIMATELY 30.0% OF THE EXISTING ISSUED ORDINARY SHARES IN BINTAI, TO INDEPENDENT INVESTOR(S) TO BE IDENTIFIED LATER ("PROPOSED PRIVATE PLACEMENT"); (D) PROPOSED ISSUANCE OF UP TO 190,946,000 REDEEMABLE CONVERTIBLE PREFERENCE SHARES IN BINTAI ("RCPS") TO OUD ASSET MANAGEMENT SDN BHD AT AN ISSUE PRICE OF RM0.10 PER RCPS ("PROPOSED ISSUANCE OF RCPS"); AND (E) PROPOSED AMENDMENT TO THE CONSTITUTION OF BINTAI TO FACILITATE THE PROPOSED ISSUANCE OF RCPS ("PROPOSED AMENDMENTS"). (COLLECTIVELY REFERRED TO AS THE "PROPOSALS") AND NOTICE OF EXTRAORDINARY GENERAL MEETING


Please refer attachment below.



Announcement Info

Company Name BINTAI KINDEN CORPORATION BERHAD
Stock Name BINTAI
Date Announced 29 Oct 2021
Category Document Submission
Reference Number DCS-29102021-00077




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