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NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : COMBINATION OF NEW ISSUE OF SECURITIES TECHNA-X BERHAD ("TXB" OR "COMPANY") (I) PROPOSED DEBT SETTLEMENT; (II) PROPOSED PRIVATE PLACEMENT; AND (III) PROPOSED BONUS ISSUE OF WARRANTS; (COLLECTIVELY, THE "PROPOSALS")

TECHNA-X BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
COMBINATION OF NEW ISSUE OF SECURITIES
Description
TECHNA-X BERHAD ("TXB" OR "COMPANY")

(I) PROPOSED DEBT SETTLEMENT;
(II) PROPOSED PRIVATE PLACEMENT; AND
(III) PROPOSED BONUS ISSUE OF WARRANTS;

(COLLECTIVELY, THE "PROPOSALS")

Unless otherwise defined, the definitions set out in the previous announcements in relation to the Proposals shall apply herein.

 

On behalf of the Board, M&A Securities wishes to announce that the Company has decided to defer and re-evaluate the Proposals after taking into consideration the Capitalisation Agreements in relation to the Proposed Debt Settlement had been automatically terminated due to the non-fulfilment of Conditions Precedent (i)(b), (c) and (d) of the Capitalisation Agreements (as stipulated in Appendix I of the announcement dated 23 June 2022 in relation to the Proposed Debt Settlement) within the Cut-Off Date and TXB has not received notification from the Creditors that they intend to extend the Cut-Off Date.

 

In view of the above, the Company will submit an application to Bursa Securities for the withdrawal of the additional listing application for new TXB Shares to be issued pursuant to the Proposals which had been submitted to Bursa Securities for approval on 22 August 2022.

 

The Board shall make the necessary announcement on a revised proposal in due course.

 

This announcement is dated 23 September 2022.






Announcement Info

Company Name TECHNA-X BERHAD
Stock Name TECHNAX
Date Announced 23 Sep 2022
Category General Announcement for PLC
Reference Number GA1-23092022-00070




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