On behalf of the Board of Directors of TXB (“Board”), M&A Securities Sdn Bhd (“M&A Securities”) wishes to announce that the Company proposes to undertake the proposed settlement of an aggregate amount of RM36,000,000 debt owing to creditors by the Company (“Settlement Amount”) via the issuance of 900,000,000 new ordinary shares in TXB (“TXB Share(s)” or “Share(s)”) (“Settlement Share(s)”) (“Proposed Debt Settlement”).
Further details of the Proposed Debt Settlement are set out in the attachment.
This announcement is dated 23 June 2022.