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MULTIPLE PROPOSALS KEJURUTERAAN ASASTERA BERHAD ("KAB" OR THE "COMPANY") (I) PROPOSED DIVERSIFICATION; AND (II) PROPOSED PRIVATE PLACEMENT (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

KEJURUTERAAN ASASTERA BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
KEJURUTERAAN ASASTERA BERHAD ("KAB" OR THE "COMPANY")

(I) PROPOSED DIVERSIFICATION; AND
(II) PROPOSED PRIVATE PLACEMENT

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

On behalf of the Board of Directors of the Company, Kenanga Investment Bank Berhad wishes to announce that the Company proposes to undertake the following proposals:-

 

(i) diversification of the business of KAB and its subsidiaries (“KAB Group” or the “Group”) to include the provision of sustainable energy solutions (“SES Business”) (“Proposed Diversification”); and

 

(ii) private placement of up to 351,581,000 new ordinary shares in the Company (“KAB Shares” or “Shares”) (“Placement Shares”), representing up to 20% of the total number of issued Shares, to independent third party investor(s) to be identified later at an issue price to be determined later (“Proposed Private Placement”).

 

Please refer to the attachment for further details.

 

This announcement is dated 7 September 2022.




Please refer attachment below.



Announcement Info

Company Name KEJURUTERAAN ASASTERA BERHAD
Stock Name KAB
Date Announced 07 Sep 2022
Category General Announcement for PLC
Reference Number GA1-07092022-00059




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