Malaysia Steel Manufacturer   

Financial Highlights

Home / Combination of New Issue of Securities

Description
MALAYSIA STEEL WORKS (KL) BHD ("MASTEEL" OR THE "COMPANY")

(I)	PROPOSED PRIVATE PLACEMENT; AND

(II)	PROPOSED BONUS ISSUE

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

We refer to the announcements dated 25 May 2017 and 26 May 2017 in relation to the Proposals and the circular to shareholders dated 31 May 2017. Unless otherwise defined, the definitions set out in the previous announcements shall apply herein.

On behalf of the Board, RHB Investment Bank wishes to announce that Bursa Securities had vide its letter dated 9 June 2017, resolved to approve the listing and quotation of the following:-

  1. Up to 24,450,800 new Masteel Shares to be issued pursuant to the Proposed Private Placement; and
  2. Up to 53,791,760 Bonus Shares to be issued pursuant to the Proposed Bonus Issue.

The approval granted by Bursa Securities for the Proposed Private Placement and Proposed Bonus Issue is subject to the following conditions:-

  1. Masteel and RHB Investment Bank must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Private Placement and Proposed Bonus Issue.
  2. Masteel and RHB Investment Bank to inform Bursa Securities upon the completion of the Proposed Private Placement and Proposed Bonus Issue.
  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 and Proposed Bonus Issue are completed.
  4. Masteel and RHB Investment Bank are required to make the relevant announcements for the Proposed Bonus Issue pursuant to Paragraphs 6.35(2)(a)&(b) and 6.35(4) of the Listing Requirements.
  5. Masteel to furnish Bursa Securities with a certified true copy of the resolution passed by shareholders at the EGM for the Proposed Bonus Issue.
  6. RHB must submit to Bursa Securities the placees’ details in accordance with Paragraph 6.15 of the Listing Requirements as soon as practicable after each tranche of placement and before the listing of the new shares to be issued pursuant to the Proposed Private Placement.
  7. Masteel to furnish Bursa Securities with a certified true copy of the resolution passed by Masteel’s shareholders for a general mandate under Sections 75 and 76 of the Act at Masteel’s forthcoming 45th AGM as soon as practicable before the listing of the new shares to be issued pursuant to the Proposed Private Placement.

 

This announcement is dated 9 June 2017.

Back to Top