General Announcement for PLC

11/03/2022

MULTIPLE PROPOSALS ADVANCE SYNERGY BERHAD ("ASB" OR "COMPANY") (I) PROPOSED RIGHTS ISSUE; (II) PROPOSED EXEMPTION; AND (III) PROPOSED SGS (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

ADVANCE SYNERGY BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description 
ADVANCE SYNERGY BERHAD ("ASB" OR "COMPANY")

(I) PROPOSED RIGHTS ISSUE;
(II) PROPOSED EXEMPTION; AND
(III) PROPOSED SGS

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

On behalf of the Board of Directors of ASB, KAF Investment Bank Berhad wishes to announce that the Company is proposing to undertake the following proposals:-

 

(i)    proposed renounceable rights issue of up to 1,858,389,886 new ordinary shares in ASB (“Rights Shares”) on the basis of two (2) Rights Shares for every one (1) existing ordinary share in ASB (“ASB Share”) held on an entitlement date to be determined later (“Proposed Rights Issue”);

 

(ii)    proposed exemption for Dato’ Ahmad Sebi Bakar and the persons acting in concert with him, namely Suasana Dinamik Sdn Bhd, Bright Existence Sdn Bhd, Aryati Sasya Dato’ Ahmad Sebi, Anton Syazi Dato’ Ahmad Sebi and Eighth Review (M) Sdn Bhd under Paragraph 4.08 of the Rules on Take-Overs, Mergers and Compulsory Acquisitions from the obligation to undertake a mandatory take-over offer for the remaining ASB Shares not already owned by them, upon the completion of the Proposed Rights Issue (“Proposed Exemption”); and

 

(iii)    proposed establishment of a share grant scheme of up to ten percent (10%) of the total number of issued shares of the Company (excluding treasury shares, if any) at any point of time during the duration of the scheme for the eligible directors and employees of ASB and its subsidiaries (“Group”) (excluding subsidiary(ies) listed on any stock exchange as well as its group of companies, and any dormant subsidiary(ies) of the Group) (“Proposed SGS”).

 

Kindly refer to the attached document for the complete announcement.

 

This announcement is dated 11 March 2022.

 


Please refer attachment below.


Announcement Info

Company Name ADVANCE SYNERGY BERHAD
Stock Name ASB
Date Announced 11 Mar 2022
Category General Announcement for PLC
Reference Number GA1-11032022-00043


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