General Announcement for PLC

01/03/2022

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS BCM ALLIANCE BERHAD ("BCM" OR "THE COMPANY") - ACQUISITION OF 4,294,400 ORDINARY SHARES OF BSL CORPORATION BERHAD ("BSL") - DISPOSAL OF 19,849,000 ORDINARY SHARES OF BSL

BCM ALLIANCE BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description 
BCM ALLIANCE BERHAD ("BCM" OR "THE COMPANY")
- ACQUISITION OF 4,294,400 ORDINARY SHARES OF BSL CORPORATION BERHAD ("BSL") 
- DISPOSAL OF 19,849,000 ORDINARY SHARES OF BSL

We refer to the Company's announcement dated 25 February 2022 in relation to the acquisition and disposal of ordinary shares of BSL (“Announcement”). Unless otherwise stated, the terms used throughout this announcement shall have the same meanings as defined in the Announcement.

 

We wish to provide the following additional information in relation to the Transactions:-

 

1. The number of shares held in BSL after the Transactions, and the percentage equity interest that these shares represents.

 

Subsequent to the Transactions, BCM does not hold any ordinary shares (0%) in BSL as BCM had disposed its entire ordinary shares held in BSL.

 

2. The details of working capital and its breakdown or a negative statement.

 

The proceeds arisen from the Disposal remained in BCM and that would be assigned for the Company's working capital needed such as staff costs, rental, operational expenses, purchase or maintenance of machinery, equipment or stocks as well as other miscellaneous expenses. However, the Management has yet to determine the actual allocation of the working capital.

 

3. The financial effect on gearing.

 

The Transactions are not expected to have a material effect on the financial gearing of the Company for the financial year ending 31 December 2022 (“FYE 2022”). As disclosed in the Announcement, the Company had gained a total return of approximately RM1.9 million through the Transactions which might lower the Company’s gearing for the FYE 2022. Furthermore, BCM acquired BSL's shares through its internally generated funds without utilising any margin or any other source of funds.

 

 

This announcement is dated 1 March 2022.

 



Announcement Info

Company Name BCM ALLIANCE BERHAD
Stock Name BCMALL
Date Announced 01 Mar 2022
Category General Announcement for PLC
Reference Number GA1-01032022-00012


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