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DescriptionMALAYSIA STEEL WORKS (KL) BHD (“MASTEEL” OR THE “COMPANY”) PRIVATE PLACEMENT OF UP TO 42,500,000 NEW ORDINARY SHARES IN MASTEEL (“MASTEEL SHARE(S)” OR “SHARE(S)”), REPRESENTING UP TO APPROXIMATELY 10% OF THE TOTAL NUMBER OF ISSUED SHARES OF MASTEEL (EXCLUDING TREASURY SHARES) PURSUANT TO SECTIONS 75 AND 76 OF THE COMPANIES ACT 2016 (“PRIVATE PLACEMENT”)
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 it had, on 27 February 2020, submitted an application to Bursa Securities to seek its approval for an extension of time of approximately 6 months for the Company to implement and complete the Private Placement. In relation thereto, Bursa Securities had, vide its letter dated 5 March 2020, resolved to grant Masteel an extension of time until 18 September 2020 to complete the implementation of the Private Placement.  This announcement is dated 5 March 2020.
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