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NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING MEGA SUN CITY HOLDINGS BERHAD ("MEGA SUN" OR "COMPANY") PROPOSED PRIVATE PLACEMENT OF UP TO 10% OF THE TOTAL NUMBER OF ISSUED SHARES OF MEGA SUN ("PROPOSED PRIVATE PLACEMENT")

MEGA SUN CITY HOLDINGS BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description
MEGA SUN CITY HOLDINGS BERHAD ("MEGA SUN" OR "COMPANY")

PROPOSED PRIVATE PLACEMENT OF UP TO 10% OF THE TOTAL NUMBER OF ISSUED SHARES OF MEGA SUN ("PROPOSED PRIVATE PLACEMENT")

(Unless stated otherwise, definitions used in this announcement shall carry the same meaning as defined in the Company’s announcement in relation to the Proposed Private Placement dated 25 February 2022).

 

We refer to the Company’s announcements dated 25 February 2022, 4 and 16 March 2022 in relation to the Proposed Private Placement.

 

On behalf of the Board, Malacca Securities wishes to announce that Bursa Securities had, vide its letter dated 16 March 2022, approved the listing and quotation of up to 56,700,000 Placement Shares representing up to 10% of the issued shares of Mega Sun (excluding treasury shares) to be issued pursuant to the Proposed Private Placement.

 

The approval granted by Bursa Securities for the Proposed Private Placement is subject to the following conditions: -

 

(i)  Mega Sun and Malacca Securities must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Private Placement;

 

(ii) Mega Sun and Malacca Securities to inform Bursa Securities upon the completion of the Proposed Private Placement;

 

(iii) Mega Sun to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Private Placement is completed; and

 

In the event the new ordinary shares to be issued pursuant to the Proposed Private Placement will be listed and quoted as the existing securities of the same class, quotation of the new ordinary shares will commence on the next market day after the following: -

 

(i)  Submission of written confirmation letter by Malacca Securities to Bursa Malaysia Depository Sdn Bhd (“Bursa Depository”) that all conditions imposed by Bursa Securities which are required to be met before the listing and quotation of the securities have been fully complied with and/or fulfilled together with the submission of the share certificate by Mega Sun and a cover letter containing the summary of the new shares to Bursa Depository before 10.00 a.m. on the market day prior to the listing date;

 

(ii)  Receipt of confirmation from Bursa Depository that the additional new shares are ready for crediting into the securities accounts of the respective account holders; and

 

(iii)  An announcement in accordance to paragraph 12.2 of GN17 is submitted via Bursa Link before 3.00 p.m. on the market day prior to the listing date.

 

Mega Sun is required to ensure full compliance of all the requirements as provided under the Listing Requirements at all times.

 

This announcement is dated 16 March 2022.

 






Announcement Info

Company Name MEGA SUN CITY HOLDINGS BERHAD
Stock Name MEGASUN
Date Announced 16 Mar 2022
Category General Announcement for PLC
Reference Number GA1-08032022-00056




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