Particulars of Director

Details of changes

Particulars of substantial Securities Holder

Details of changes

Particulars of substantial Securities Holder

Details of changes

Particulars of substantial Securities Holder

Details of changes

We refer to the announcements dated 13 September 2019, 17 September 2019 and 19 September 2019 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 Company had on 10 December 2019 received two (2) Subscription Notices from Macquarie Bank for the subscription of 850,000 and 1,150,000 Masteel Shares respectively, at a subscription price of RM0.3580 each. This subscription price represents a discount of approximately 8.77% to the VWAP of Masteel Shares during the 5 consecutive Trading Days up to and including 9 December 2019 of RM0.3924.

This announcement is dated 10 December 2019.

Particulars of substantial Securities Holder

Details of changes

We refer to the announcements dated 13 September 2019 and 17 September 2019 in relation to the Proposed 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 Bursa Securities has, vide its letter dated 19 September 2019, resolved to approve the listing and quotation of up to 42,500,000 new ordinary shares to be issued pursuant to the Proposed Private Placement subject to the following conditions:-

1. Masteel and UOBKH must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Private Placement;
2. Masteel and UOBKH to inform Bursa Securities upon the completion of the Proposed Private Placement;
3. Masteel to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Private Placement is completed; and
4. Masteel must submit to Bursa Securities details of the placees in accordance with Paragraph 6.15 of the Listing Requirements as soon as practicable before the listing of the new shares to be issued pursuant to the Proposed Private Placement.

This announcement is dated 19 September 2019.

Particulars of Director

Details of changes

Particulars of substantial Securities Holder

Details of changes

Particulars of substantial Securities Holder

Details of changes

Particulars of substantial Securities Holder

Details of changes

We refer to the Company’s announcement dated 30 August 2019 and query letter from Bursa Malaysia Securities Berhad to Company dated 4 September 2019 pertaining to the above matter.

The terms herein shall bear the same meaning as defined in the said announcement.

The Board of Directors of the Company wishes to provide the following additional information:-

1. The date of presentation of the Writ of Summons and Statement of Claim.

The Writ of Summons was issued or presented on 17 July 2019. The Statement of Claim dated 12 June 2019, which was endorsed on the Writ of Summons, was filed on 17 July 2019 by the solicitors of Safety Capital Sdn Bhd (“the Plaintiff”)

2. The date the Writ of Summons and Statement of Claims were served on MASTEEL.

The Writ of Summons and Statement of Claim were received by MASTEEL on 19 July 2019.

3. The interest rate for the total payment of RM10,681,000.

The rate of interest, is at a rate that will be determined from time to time by the Chief Justice. The current rate is 5% per annum and is calculated from the date Judgment is delivered in favour of the Plaintiff, if successful.

4. The details of the circumstances leading to the filing of the Writ of Summons and Statement of Claim.

The circumstance leading to the filing of the Writ of Summons and Statement of Claim is based on the allegation that a debt of RM10.681 million is pursuant to payments made by the Plaintiff to MASTEEL between the years 2002-2004.

5. The expected losses, if any, arising from the Writ of Summons and Statement of Claim

As at the date of announcement, there is no expected losses arising from the Writ of Summons and Statement of Claim on the Group.

This announcement is dated 5 September 2019.

The Company wishes to announce that it has been served with a Writ of Summons dated 17 July 2019 and Statement of Claim dated 12 June 2019 by Safety Capital Sdn Bhd (“Safety Capital”).

Safety Capital is seeking for, inter alia, the payment of RM10,681,000.00 (“Sum”) by the Company, together with interest and costs (“Claim”), and is in relation to advances made by Safety Capital to the Company between the years 2002 to 2004. The Board of Directors has been advised by its solicitors that the Company has a strong case to dismiss the Claim.

As the Sum claimed is non-trading in nature and Management is of the view that it will not have any impact on the operations of the Group.

At the date of announcement, there is no material financial impact of the Writ of Summons on the Group.

The suit is scheduled for case management on 11 September 2019 before the Registrar at the Shah Alam High Court, and the Company will make further announcements as and when material developments arise.

This announcement is dated 30 August 2019.

The Board of Directors of Masteel wishes to announce that the Company proposes to obtain 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-Seventh (“47th”) Annual General Meeting (“AGM”) of the Company.

At the AGM of the Company held on 21 June 2018, the shareholders of Masteel had granted a mandate for the Company to purchase up to 10% of its own ordinary shares. The authority shall expire at the conclusion of the forthcoming 47th AGM of the Company.

A Statement to Shareholders containing details in relation to the Proposed Renewal of Share Buy Back will be distributed to shareholders together with the Annual Report of the Company for the financial year ended 31 December 2018.

This announcement is dated 1 April 2019.