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MULTIPLE PROPOSALS SKB SHUTTERS CORPORATION BERHAD ("SKB" OR "COMPANY") I. PROPOSED BONUS ISSUE OF SHARES; AND II. PROPOSED FREE WARRANTS ISSUE (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

SKB SHUTTERS CORPORATION BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
SKB SHUTTERS CORPORATION BERHAD ("SKB" OR "COMPANY") 

I.	PROPOSED BONUS ISSUE OF SHARES; AND
II.	PROPOSED FREE WARRANTS ISSUE

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
We refer to the announcements dated 20 October 2021 and 28 October 2021 in relation to the Proposals (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

On behalf of the Board, TA Securities wishes to announce that Bursa Securities had, vide its letter dated 18 November 2021, resolved to approve the following:

i) Listing and quotation of 88,000,000 Bonus Shares to be issued pursuant to Proposed Bonus Issue of Shares;

ii) Admission to the Official List and listing and quotation of up to 66,000,000 Warrants to be issued pursuant to the Proposed Free Warrants Issue; and

iii) Listing and quotation of up to 66,000,000 new SKB shares to be issued pursuant to the exercise of the Warrants.

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

i) SKB and TA Securities must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposals;

ii) SKB and TA Securities to inform Bursa Securities upon the completion of the Proposals respectively;

iii) SKB and TA Securities 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 respectively;

iv) SKB/TA Securities are required to furnish Bursa Securities with certified true copy of the resolution passed by the shareholders at the forthcoming EGM for the Proposed Bonus Issue of Shares prior to the listing and quotation of the Bonus Shares;

v) SKB and TA Securities are required to make the relevant announcements pursuant to Paragraphs 6.35(2)(a) and (b) as well as 6.35(4) of the Listing Requirements in relation to the Proposed Bonus Issue of Shares;

vi) SKB is required to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the exercise of Warrants under the Proposed Free Warrants Issue as at the end of each quarter; and

vii) To incorporate the comments made in the Circular to shareholders.

This announcement is dated 19 November 2021.
 
 
 
 
 
 
 
 





Announcement Info

Company Name SKB SHUTTERS CORPORATION BERHAD
Stock Name SKBSHUT
Date Announced 19 Nov 2021
Category General Announcement for PLC
Reference Number GA1-19112021-00051




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