General Announcement for PLC

19/05/2022

MULTIPLE PROPOSALS ADVANCE SYNERGY BERHAD ("ASB" OR THE "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 THE "COMPANY")

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

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

(For consistency purposes, the abbreviations and definitions used throughout this announcement are the same as those previously defined in the Company’s announcement in relation to the Proposals dated 11 March 2022.)

 

We refer to the Company’s announcement dated 11 March 2022 and its subsequent announcements in relation to the Proposals.

 

On behalf of the Board, KAF IB wishes to announce that Bursa Securities had, vide its letter dated 19 May 2022, resolved to approve the followings:-

 

(a)           listing and quotation of up to 1,858,389,886 Rights Shares to be issued pursuant to the Proposed Rights Issue; and

 

(b)           listing and quotation of such number of new ASB Shares, representing up to 10% of the Company’s total number of issued Shares (excluding treasury shares, if any), to be issued pursuant to the Proposed SGS.

 

The approval by Bursa Securities for the Proposed Rights Issue is subject to the following conditions:-

 

(i)            ASB and KAF IB, being the adviser for the Proposed Rights Issue, must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Rights Issue.

 

(ii)           ASB/KAF IB to furnish Bursa Securities with a certified true copy of the resolution passed by shareholders in general meeting approving the Proposed Rights Issue prior to the listing and quotation of the Rights Shares to be issued pursuant to the Proposed Rights Issue.

 

(iii)          ASB and KAF IB to inform Bursa Securities upon the completion of the Proposed Rights Issue.

 

(iv)          ASB and KAF IB 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 is completed.

 

The approval by Bursa Securities for the Proposed SGS is subject to the following conditions:-

 

(1)           KAF IB is required to submit a confirmation to Bursa Securities of full compliance of the Proposed SGS pursuant to paragraph 6.43(1) of the Listing Requirements and stating the effective date of implementation.

 

(2)           KAF IB to furnish Bursa Securities with a certified true copy of the resolution passed by shareholders in general meeting approving the Proposed SGS.

 

(3)           ASB is required to furnish Bursa Securities on a quarterly basis a summary of the total number of Shares listed pursuant to the Proposed SGS, as at the end of each quarter together with a detailed computation of listing fee payable.

 

ASB is also required to ensure full compliance of all the requirements pertaining to the Proposals as provided under the Listing Requirements at all times.

 

 

This announcement is dated 19 May 2022.



Announcement Info

Company Name ADVANCE SYNERGY BERHAD
Stock Name ASB
Date Announced 19 May 2022
Category General Announcement for PLC
Reference Number GA1-19052022-00084


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