Unless otherwise redefined, the definitions set out in the earlier announcements in relation to the Rights Issue with Warrants shall apply in this announcement. M&A Securities Sdn Bhd on behalf of the Board is pleased to announce that the Board has resolved to fix the issue price for the Rights Shares at RM0.586 per Rights Share, and the exercise price of the Warrants at RM0.586 per Warrant. The issue price of the Rights Shares and the exercise price of the Warrants were determined by the Board after taking into consideration, amongst others, the following: (i) the historical share price movement of Masteel Shares;(ii) the 5D-VWAMP of Masteel Shares up to and including 5 May 2021 of RM0.7810, being the market day immediately preceding the date of this announcement; and(iii) the theoretical ex-all price of Masteel Shares of RM0.6835, calculated based on the 5D-VWAMP of Masteel Shares in (ii). The issue price of the Rights Shares and the exercise price of the Warrants represent a discount of 25.0% and 14.3% to the 5D-VWAMP of Masteel Shares up to and including 5 May 2021 (being the market day immediately preceding the date of this announcement) of RM0.7810 and the theoretical ex-all price of Masteel Shares of RM0.6835, respectively. Premised on the above, the Board is of the view that the issue price of the Rights Shares and the exercise price of the Warrants are fair. This announcement is dated 6 May 2021.
Circumstances by reason of which change has occurred
Acquisition of shares via Direct Business Transaction.
Nature of interest
Direct Interest
Direct (units)
950,000
Direct (%)
0.211
Indirect/deemed interest (units)
140,692,616
Indirect/deemed interest (%)
31.214
Total no of securities after change
141,642,616
Date of notice
14 Apr 2021
Date notice received by Listed Issuer
14 Apr 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 amount of issued shares excluding 2,010,600 shares bought back by the Company and retained as treasury shares.
Circumstances by reason of which change has occurred
Acquisition of shares via Direct Business Transaction.
Nature of interest
Direct Interest
Total no of securities after change
Direct (units)
950,000
Direct (%)
0.211
Indirect/deemed interest (units)
140,692,616
Indirect/deemed interest (%)
31.214
Date of notice
14/04/2021
Date notice received by Listed Issuer
14/04/2021
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 amount of issued shares excluding 2,010,600 shares bought back by the Company and retained as treasury shares. This announcement is also made to comply with Paragraph 14.09 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.
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 Forty-Ninth (“49th”) Annual General Meeting (“AGM”) 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 2020 will be available in due course.
Circumstances by reason of which change has occurred
Acquisition of shares via Direct Business Transaction.
Nature of interest
Indirect Interest
Direct (units)
Direct (%)
Indirect/deemed interest (units)
140,692,616
Indirect/deemed interest (%)
31.239
Total no of securities after change
140,692,616
Date of notice
24 Mar 2021
Date notice received by Listed Issuer
26 Mar 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 amount of issued shares excluding 2,360,600 shares bought back by the Company and retained as treasury shares.
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 Extraordinary General Meeting (“EGM”) of the Company dated 8 February 2021 were duly passed by the shareholders at the EGM 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 23 March 2021.
Circumstances by reason of which change has occurred
Acquisition of shares via Direct Business Transaction.
Nature of interest
Indirect Interest
Total no of securities after change
Direct (units)
Direct (%)
Indirect/deemed interest (units)
140,692,616
Indirect/deemed interest (%)
31.239
Date of notice
23/03/2021
Date notice received by Listed Issuer
23/03/2021
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 indirect interest is based on the total amount of issued shares excluding 2,360,600 shares bought back by the Company and retained as treasury shares. This announcement is also made to comply with Paragraph 14.09 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.
Circumstances by reason of which change has occurred
Acquisition of shares via Direct Business Transaction.
Nature of interest
Indirect Interest
Direct (units)
Direct (%)
Indirect/deemed interest (units)
140,692,616
Indirect/deemed interest (%)
31.239
Total no of securities after change
Date of notice
23 Mar 2021
Date notice received by Listed Issuer
23 Mar 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 indirect interest is based on the total amount of issued shares excluding 2,360,600 shares bought back by the Company and retained as treasury shares.
Unit B-05-03, 5th Floor, Block B (West Wing), PJ8 Office Suite, No. 23 Jalan Barat, Seksyen 8, 46050 Petaling Jaya, Selangor.
Description of “Others” Type of Transaction
Circumstances by reason of which change has occurred
Acquisition of shares via Direct Business Transaction.
Nature of interest
Direct Interest
Direct (units)
140,692,616
Direct (%)
31.239
Indirect/deemed interest (units)
Indirect/deemed interest (%)
Total no of securities after change
Date of notice
23 Mar 2021
Date notice received by Listed Issuer
23 Mar 2021
Remarks :
The percentage of direct interest is based on the total amount of issued shares excluding 2,360,600 shares bought back by the Company and retained as treasury shares.
Circumstances by reason of which change has occurred
Acquisition of shares via Direct Business Transaction.
Nature of interest
Indirect Interest
Direct (units)
Direct (%)
Indirect/deemed interest (units)
151,188,081
Indirect/deemed interest (%)
33.569
Total no of securities after change
Date of notice
23 Mar 2021
Date notice received by Listed Issuer
23 Mar 2021
Remarks :
After the change, the indirect interest are registered as follows:- (i) TYY Resources Sdn. Bhd. (140,692,616 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 amount of issued shares excluding 2,360,600 shares bought back by the Company and retained as treasury shares.
The Board of Directors of Masteel wishes to announce that the Company proposes to obtain shareholders’ approval for the proposed amendments to the existing Constitution of the Company (“Proposed Amendments”) at the forthcoming Extraordinary General Meeting to be convened on a date to be announced later.
The purpose of the Proposed Amendments is to enhance administrative efficiency and provide clarity to the Company’s Constitution.
A circular to the shareholders containing details in relation to the Proposed Amendments will be circulated to shareholders in due course.
On behalf of the Board, M&A Securities is pleased to announce that Bursa Securities had, vide its letter dated 15 January 2021, resolved to approve the following: (a) admission to the Official List and listing of up to 226,369,915 Warrants to be issued pursuant to the Proposed Rights Issue with Warrants; (b) listing of up to 226,369,915 new Masteel shares to be issued pursuant to the Proposed Rights Issue with Warrants; and (c) listing of up to 226,339,915 new Masteel shares to be issued pursuant to the exercise of Warrants. The approval granted by Bursa Securities for the Proposed Rights Issue with Warrants is subject to the following conditions: (i) Masteel and M&A Securities must fully comply with the relevant provisions under the Main Market Listing Requirements of Bursa Securities (“Main LR”) at all times pertaining to the implementation of the Proposed Rights Issue with Warrants; (ii) Masteel and M&A Securities to inform Bursa Securities upon the completion of the Proposed Rights Issue with Warrants; (iii) Masteel to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Rights Issue with Warrants is completed; (iv) Masteel to furnish Bursa Securities with a certified true copy of the resolution passed by shareholders at EGM for the Proposed Rights Issue with Warrants; and (v) Masteel to furnish Bursa Securities on a quarterly basis, a summary of the total number of shares listed pursuant to the exercise of Warrants as at the end of each quarter together with a detailed computation of the listing fees payable. Masteel is required to ensure full compliance of all the requirements as provided under the Main LR at all times. This announcement is dated 18 January 2021.
On behalf of the Board, M&A Securities wishes to announce that the listing application in relation to the Proposed Rights Issue with Warrants has been submitted to Bursa Securities.
We refer to the announcements dated 13 September 2019, 17 September 2019, 19 September 2019 and 5 March 2020 in relation to the Private Placement. Unless otherwise defined, the definitions set out in the previous announcements shall apply herein.
On behalf of the Board, UOBKH wishes to announce that the extension of time until 18 September 2020 previously granted by Bursa Securities to Masteel to complete the implementation of the Private Placement has lapsed today.
The Company has, to date, placed out and listed 25,500,000 Placement Shares to the Investor pursuant to the Private Placement and has resolved not to place out all remaining Placement Shares pursuant to the lapsing of the approval from Bursa Securities. Accordingly, the Private Placement is deemed completed today.
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) Berhad (“the Company”) is pleased to announce that all the resolutions set out in the Notice of Forty-Eighth Annual General Meeting (“48th AGM”) of the Company dated 16 June 2020 were duly passed by the shareholders at the 48th 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 July 2020.
Voting Results
1. Ordinary Resolution 1
Description
To approve the Directors’ fees up to an aggregate amount of RM159,600.00 for the financial year ending 31 December 2020 and benefit payable to the Directors up to an aggregate amount of RM384,470.00 from 16 July 2020 until the next AGM of the Company and the payment thereof.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
84
17
No. of Shares
19,824,556
17,836
% of Voted Shares
99.9101
0.0899
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
88
15
No. of Shares
169,943,171
15,142
% of Voted Shares
99.9911
0.0089
Result
Accepted
3. Ordinary Resolution 3
Description
To re-elect Encik Muhammad Hanizam Bin Hj. Borhan who is retiring pursuant to Clause 96 of the Constitution of the Company.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
87
15
No. of Shares
169,922,171
15,142
% of Voted Shares
99.9911
0.0089
Result
Accepted
4. Ordinary Resolution 4
Description
To re-elect Mr Lau Yoke Leong who is retiring pursuant to Clause 96 of the Constitution of the Company.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
89
12
No. of Shares
169,897,998
15,090
% of Voted Shares
99.9911
0.0089
Result
Accepted
5. Ordinary Resolution 5
Description
To re-appoint Messrs RSM Malaysia 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
90
11
No. of Shares
169,898,878
14,210
% of Voted Shares
99.9916
0.0084
Result
Accepted
6. Ordinary Resolution 6
Description
Authority for Mr Ng Wah Lok to continue in office as Senior Independent Non-Executive Director.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
87
14
No. of Shares
169,898,446
14,642
% of Voted Shares
99.9914
0.0086
Result
Accepted
7. Ordinary Resolution 7
Description
Authority for Encik Muhammad Hanizam Bin Hj. Borhan to continue in office as Independent Non-Executive Director.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
83
14
No. of Shares
169,870,016
14,966
% of Voted Shares
99.9912
0.0088
Result
Accepted
8. Ordinary Resolution 8
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
82
13
No. of Shares
169,885,085
14,494
% of Voted Shares
99.9915
0.0085
Result
Accepted
9. Special Resolution
Description
Proposed Renewal of Authority under Sections 75 and 76 of the Companies Act 2016 and the Constitution of the Company for the Directors to allot and issue 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 Forty-Eighth (“48th”) Annual General Meeting (“AGM”) of the Company.
A Statement to Shareholders containing details in relation to the Proposed Renewal of Share Buy Back will be issued and despatched to shareholders of the Company in due course.
The name of the stock exchange through which the shares were purchased
Bursa Malaysia Securities Berhad
Number of shares purchased retained in treasury (units)
685,600
Total number of shares retained in treasury (units)
2,360,600
Number of shares purchased which were cancelled (units)
0
Total issued capital as diminished
0
Date of Notice
26 Mar 2020
Date lodged with registrar of companies
15 May 2020
Lodged by
BOARDROOM CORPORATE SERVICES SDN BHD
Remarks :
The late submission of the Notice of Shares Buy-Back by a Company pursuant to Section 127(16) of the Companies Act 2016 to the Companies Commission of Malaysia and announcement made was due to the Movement Restriction Order implemented by the Government.
The Company would like to announce that following the Movement Control Order (“MCO“) imposed by the Government of Malaysia effective from 18 March 2020 to 12 May 2020 under the provision of the Prevention and Control of Infectious Diseases Act 1988 and the Police Act 1967 to curb the spread of the coronavirus (“Covid-19“) infection in the country and the announcement by Bursa Malaysia Securities Berhad (“Bursa Securities”) on the extension of time up till 30 June 2020 for the issuance of annual reports which are due by 30 April 2020 and 31 May 2020, the Company will utilise this extension of time granted by Bursa Securities and will ensure that its Annual Report is issued latest by 30 June 2020.
The Company would be submitting the application for extension of time to hold its Annual General Meeting (“AGM”) up to 28 September 2020 with the Companies Commission of Malaysia pursuant to Section 340(4) of the Companies Act 2016.
The Board will determine and announce the appropriate date to hold the Forty Eighth AGM (“48th AGM”) of the Company and the issuance of the Annual Report and Notice of the 48th AGM together with the Circular/Statement to Shareholders, if any, in due course.
