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NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : COMBINATION OF NEW ISSUE OF SECURITIES IDEAL SUN CITY HOLDINGS BERHAD (IDEAL OR COMPANY) PROPOSED SPECIAL ISSUE; AND PROPOSED ESOS (COLLECTIVELY, THE PROPOSALS)

IDEAL SUN CITY HOLDINGS BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
COMBINATION OF NEW ISSUE OF SECURITIES
Description
IDEAL SUN CITY HOLDINGS BERHAD (IDEAL OR COMPANY)

PROPOSED SPECIAL ISSUE; AND
PROPOSED ESOS

(COLLECTIVELY, THE PROPOSALS)

On behalf of the Board of Directors of Ideal (“Board”), M&A Securities Sdn Bhd (“M&A Securities”) wishes to announce that the Company is proposing to undertake the following:

  1. Proposed special issue of up to 34,708,200 new ordinary shares of RM0.10 each in Ideal (“Ideal Shares”) (“Special Issue Shares”) to independent third party Bumiputera investor(s) to be identified (“Proposed Special Issue”); and
  2. Proposed establishment of an employees’ share option scheme (“ESOS”) of up to thirty percent (30%) of the total issued and paid-up share capital of Ideal (excluding treasury shares, if any) at any point in time during the duration of the ESOS for the eligible employees and directors of Ideal and its subsidiaries (excluding its dormant subsidiary, if any) (“Ideal Group”) (“Proposed ESOS”). 

Please refer to the attachment for further details of the Proposals.

This announcement is dated 8 December 2015.




Please refer attachment below.

Attachments

Ideal - Special Issue.pdf
196.2 kB



Announcement Info

Company Name IDEAL SUN CITY HOLDINGS BERHAD
Stock Name IDEAL
Date Announced 08 Dec 2015
Category General Announcement for PLC
Reference Number GA1-08122015-00060




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