The Board of Directors of SEG International Bhd (“the Company”) wishes to announce that the Company intends to seek the approval of its shareholders on the proposed renewal of shareholders’ authorisation for the Company to purchase its own shares of up to 10% of the issued share capital of the Company at any point in time (“the Proposed Share Buy-Back”) at the forthcoming 37th Annual General Meeting of the Company.
A Statement to Shareholders containing the details of the Proposed Share Buy-Back will be published on the Company’s website in due course, and the shareholders will be notified accordingly.
The Board of Directors of Masteel wishes to announce that the Company proposes to seek shareholders’ approval for the proposed renewal of authority for the Company to purchase its own ordinary shares (“Proposed Renewal of Share Buy-Back”) at the forthcoming Fifty-First Annual General Meeting of the Company.
A Statement to Shareholders containing details in relation to the Proposed Renewal of Share Buy-Back and the Annual Report of the Company for the financial year ended 31 December 2022 will be made available to the shareholders in due course.
Royal Melbourne Institute of Technology University
2
Degree
Business Administration, Finance & Organisational Behavior
University of Missouri-St.Louis
Working experience and occupation
Puan Zueraini Binti Ahmad Basri (“Puan Zueraini”) has over 23 years of risk management experience in financial institutions covering financial and non-financial risk management in both local and foreign banks. Puan Zueraini has applied her extensive experience to set-up integrated risk management as the pioneering Chief Risk Officer for BMW Financial Services Malaysia and Singapore. She currently oversees retail and commercial credit risk, operational risk, enterprise risk, market risk and business continuity management for BMW Financial Services. In her banking days, she covered credit evaluation across commercial, corporate and investment segments, within conventional and Islamic banking. Given the breadth of her exposure, she supports business strategies through forward looking risk management practices and encourages enterprise wide risk management approach for organisations.
Directorships in public companies and listed issuers (if any)
None.
Family relationship with any director and/or major shareholder of the listed issuer
None.
Any conflict of interests that he/she has with the listed issuer
None.
Details of any interest in the securities of the listed issuer or its subsidiaries
Broadcast Venue Masteel Meeting Room, Unit B-05-3A, 5th Floor, Block B (West Wing) PJ8 Office Suite, No. 23, Jalan Barat Seksyen 8, 46050 Petaling Jaya, Selangor Darul Ehsan Malaysia
Outcome of Meeting
The Board of Directors of Malaysia Steel Works (KL) Bhd (“the Company”) is pleased to announce that all the resolutions set out in the Notice of the Fiftieth Annual General Meeting (“50th AGM”) of the Company dated 29 April 2022 were duly passed by the shareholders at the 50th AGM of the Company held earlier today. All the resolutions were voted on by poll and the results of the poll were validated by Commercial Quest Sdn. Bhd., the Independent Scrutineer appointed by the Company. Details of the poll results are set out below. This announcement is dated 16 June 2022.
Voting Results
1. Ordinary Resolution 1
Description
To approve the Directors’ fees up to an aggregate amount of RM180,000.00 for the financial year ending 31 December 2022 and benefit payable to the Directors up to an aggregate amount of RM496,000.00 from 16 June 2022 until the next AGM of the Company and the payment thereof.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
194
51
No. of Shares
242,064,743
140,797
% of Voted Shares
99.9419
0.0581
Result
Accepted
2. Ordinary Resolution 2
Description
To re-elect Dato’ Ikhwan Salim Bin Dato’ Haji Sujak who is retiring pursuant to Clause 96 of the Constitution of the Company.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
210
37
No. of Shares
243,536,814
93,727
% of Voted Shares
99.9615
0.0385
Result
Accepted
3. Ordinary Resolution 3
Description
To re-elect Mr. Ng Wah Lok who is retiring pursuant to Clause 96 of the Constitution of the Company.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
213
35
No. of Shares
243,539,696
92,125
% of Voted Shares
99.9622
0.0378
Result
Accepted
4. Ordinary Resolution 4
Description
To re-elect Mr. Ong Teng Chun who is retiring pursuant to Clause 96 of the Constitution of the Company.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
213
34
No. of Shares
243,539,696
92,124
% of Voted Shares
99.9622
0.0378
Result
Accepted
5. Ordinary Resolution 5
Description
To re-appoint RSM Malaysia PLT as Auditors of the Company and to authorise the Directors to fix their remuneration.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
216
30
No. of Shares
243,574,580
55,959
% of Voted Shares
99.9770
0.0230
Result
Accepted
6. Ordinary Resolution 6
Description
Proposed continuation in office of Dato’ Ikhwan Salim Bin Dato’ Haji Sujak as Independent Non-Executive Director.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
210
38
No. of Shares
243,536,814
95,007
% of Voted Shares
99.9610
0.0390
Result
Accepted
7. Ordinary Resolution 7
Description
Proposed continuation in office of Mr. Ng Wah Lok as Senior Independent Non-Executive Director.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
213
35
No. of Shares
243,539,696
92,125
% of Voted Shares
99.9622
0.0378
Result
Accepted
8. Ordinary Resolution 8
Description
Proposed continuation in office of Encik Muhammad Hanizam Bin Hj. Borhan as Independent Non-Executive Director.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
209
38
No. of Shares
243,535,814
94,727
% of Voted Shares
99.9611
0.0389
Result
Accepted
9. Ordinary Resolution 9
Description
Proposed Renewal of Authority for the Company to Purchase its own Ordinary Shares.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
212
33
No. of Shares
243,564,541
60,832
% of Voted Shares
99.9750
0.0250
Result
Accepted
10. Ordinary Resolution 10
Description
Proposed Renewal of Authority under Sections 75 and 76 of the Act and the Constitution of the Company for the Directors to allot and issue shares.
MALAYSIA STEEL WORKS (KL) BHD (“Masteel” or “Company”) – PROPOSED RENEWAL OF AUTHORITY FOR THE COMPANY TO PURCHASE ITS OWN ORDINARY SHARES OF UP TO TEN PER CENTUM (10%) OF ITS TOTAL NUMBER OF ISSUED SHARES
The Board of Directors of Masteel wishes to announce that the Company proposes to seek shareholders’ approval for the proposed renewal of authority for the Company to purchase its own ordinary shares (“Proposed Renewal of Share Buy-Back”) at the forthcoming Fiftieth Annual General Meeting of the Company. A Statement to Shareholders containing details in relation to the Proposed Renewal of Share Buy-Back and the Annual Report of the Company for the financial year ended 31 December 2021 will be made available to the shareholders in due course. This announcement is dated 7 April 2022.
Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the announcements dated 30 August 2019, 5 September 2019 and 10 December 2021.
The Board of Directors of Masteel wishes to announce that Safety Capital Sdn Bhd (“Safety Capital“) has filed a Notice of Appeal to the Court of Appeal against the decision of the Shah Alam High Court dated 10 December 2021 which dismissed Safety Capital’s claim against the Company for inter alia RM10,681,000.00, with costs of RM80,000.00 to be paid by Safety Capital to the Company.
To date, there is no financial and operational impact arising from the Appeal and the Company will make further announcements as and when material developments arise.
Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in the announcements dated 30 August 2019 and 5 September 2019.
The Board of Directors of Masteel wishes to announce that Safety Capital Sdn Bhd’s (“Safety Capital”) Claim for RM10,681,000.00 with interest and costs against the Company was dismissed today by the Shah Alam High Court, which held that Safety Capital had failed to prove its case on a balance of probabilities against the Company. In dismissing the Claim, the High Court ordered costs of RM80,000.00 to be paid by Safety Capital to the Company.
To date, there is no financial and operational impact arising from the Claim.
Composition of Remuneration Committee(Name and Directorate of members after change)
Chairman:- Encik Muhammad Hanizam Bin Hj. Borhan (Independent Non-Executive Director) Members:- Mr Ng Wah Lok (Senior Independent Non-Executive Director) Mr Roy Thean Chong Yew (Independent Non-Executive Director)
Circumstances by reason of which change has occurred
Subscription of Rights Issue with Warrants on the basis of 1 Rights Share for every 2 existing Ordinary Shares held.
Nature of interest
Indirect Interest
Direct (units)
Direct (%)
Indirect/deemed interest (units)
213,038,900
Indirect/deemed interest (%)
31.37
Total no of securities after change
213,038,900
Date of notice
28 Oct 2021
Date notice received by Listed Issuer
29 Oct 2021
Remarks :
The indirect interest is registered in the name of TYY Resources Sdn. Bhd. Deemed interest pursuant to Section 8(4) of Companies Act 2016 by virtue of his interest in TYY Resources Sdn. Bhd. The percentage of indirect interest is based on the total number of issued shares of 679,109,746 Ordinary Shares.
Unless otherwise redefined, the definitions set out in the earlier announcements in relation to the Rights Issue with Warrants shall apply in this announcement.
On behalf of the Board, M&A Securities wishes to announce that the Rights Issue with Warrants has been completed following the listing and quotation of 226,369,915 Rights Shares and 226,369,915 Warrants on the Main Market of Bursa Securities today.
Circumstances by reason of which change has occurred
Subscription of Rights Issue with Warrants on the basis of 1 Rights Share for every 2 existing Ordinary Shares held.
Nature of interest
Indirect Interest
Direct (units)
Direct (%)
Indirect/deemed interest (units)
223,534,365
Indirect/deemed interest (%)
32.916
Total no of securities after change
Date of notice
26 Oct 2021
Date notice received by Listed Issuer
27 Oct 2021
Remarks :
After the change, the indirect interest are registered as follows:- (i) TYY Resources Sdn. Bhd. (213,038,900 shares) – Deemed interest by virtue of her substantial shareholdings in TYY Resources Sdn. Bhd. (ii) Kemajuan Rekacekap Sdn. Bhd. (10,495,465 shares) – Deemed interest by virtue of her substantial shareholdings in Kemajuan Rekacekap Sdn. Bhd. The percentage of indirect interest is based on the total number of issued shares of 679,109,746 Ordinary Shares.
1) MASTEEL’s additional 226,369,915 new ordinary shares issued pursuant to the Rights Issue with Warrants will be granted listing and quotation with effect from 9.00 a.m., Wednesday, 27 October 2021; and
2) MASTEEL’s 226,369,915 new Warrants issued pursuant to the Rights Issue with Warrants will be admitted to the Official List of Bursa Malaysia Securities Berhad and the listing of and quotation for the Warrants on the Main Market will be granted with effect from 9.00 a.m., Wednesday, 27 October 2021.
The Stock Short Name, Stock Number and ISIN Code of the Warrants are “MASTEEL-WB”, “5098WB” and “MYL5098WB6A6” respectively.
Circumstances by reason of which change has occurred
Subscription of Rights Issue with Warrants on the basis of 1 Rights Share for every 2 existing Ordinary Shares held.
Nature of interest
Direct and Indirect Interest
Total no of securities after change
Direct (units)
1,425,000
Direct (%)
0.210
Indirect/deemed interest (units)
213,038,900
Indirect/deemed interest (%)
31.370
Date of notice
26/10/2021
Date notice received by Listed Issuer
26/10/2021
Remarks :
The indirect interest is registered in the name of TYY Resources Sdn. Bhd. Deemed interest pursuant to Section 8(4) of the Companies Act 2016 by virtue of his interest in TYY Resources Sdn. Bhd. The percentage of direct and indirect interest are based on the total number of issued shares of 679,109,746 Ordinary Shares. This announcement is also made to comply with Paragraphs 14.08 and 14.06 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.
Circumstances by reason of which change has occurred
Subscription of Rights Issue with Warrants on the basis of 1 Rights Share for every 2 existing Ordinary Shares held.
Nature of interest
Direct and Indirect Interest
Direct (units)
1,425,000
Direct (%)
0.21
Indirect/deemed interest (units)
213,038,900
Indirect/deemed interest (%)
31.37
Total no of securities after change
Date of notice
26 Oct 2021
Date notice received by Listed Issuer
26 Oct 2021
Remarks :
The indirect interest is registered in the name of TYY Resources Sdn. Bhd. Deemed interest pursuant to Section 8(4) of the Companies Act 2016 by virtue of his interest in TYY Resources Sdn. Bhd. The percentage of direct and indirect interest are based on the total number of issued shares of 679,109,746 Ordinary Shares.
On behalf of the Company, M&A Securities is pleased to announce that at the close of acceptance, excess application and payment for the Rights Issue with Warrants as at 5.00 p.m. on 14 October 2021 (“Closing Date”), the Company received valid acceptances and excess applications for a total of 293,131,563 Rights Shares. This represents a subscription level of 129.49% of the total 226,369,915 Rights Shares available under the Rights Issue with Warrants.
Details of valid acceptances and excess applications received as at the Closing Date are as follows:
No. of Rights Shares
% of total issue size
Total valid acceptances
205,741,000
90.89
Total valid excess applications
87,390,563
38.60
Total valid acceptances and excess applications
293,131,563
129.49
Total Rights Shares available for subscription
226,369,915
100.00
Total oversubscription
66,761,648
29.49
As the acceptances and excess application received exceeded the issue size of 226,369,915 Rights Shares, the issue size of the Rights Issue with Warrants shall be based on the issue size of 226,369,915 Rights Shares and 226,369,915 Warrants.
The Excess Rights Shares have been allocated in accordance with the basis stated in the Abridged Prospectus dated 29 September 2021.
The Rights Shares and Warrants are expected to be listed on the Main Market of Bursa Malaysia Securities Berhad on 27 October 2021.
On behalf of the Company, M&A Securities is pleased to announce that at the close of acceptance, excess application and payment for the Rights Issue with Warrants as at 5.00 p.m. on 14 October 2021 (“Closing Date”), the Company received valid acceptances and excess applications for a total of 293,131,563 Rights Shares. This represents a subscription level of 129.49% of the total 226,369,915 Rights Shares available under the Rights Issue with Warrants.
Details of valid acceptances and excess applications received as at the Closing Date are as follows:
No. of Rights Shares
%
Total valid acceptances
205,741,000
90.89
Total valid excess applications
87,390,563
38.60
Total valid acceptances and excess applications
293,131,563
129.49
Total Rights Shares available for subscription
226,369,915
100.0
Total oversubscription
66,761,648
29.49
As the acceptances and excess application received exceeded the issue size of 226,369,915 Rights Shares, the issue size of the Rights Issue with Warrants shall be based on the issue size of 226,369,915 Rights Shares and 226,369,915 Warrants.
The Excess Rights Shares have been allocated in accordance with the basis stated in the Abridged Prospectus dated 29 September 2021.
The Rights Shares and Warrants are expected to be listed on the ACE Market of Bursa Malaysia Securities Berhad on 27 October 2021.
