(For consistency, all the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 9 May 2014 in relation to the Proposals, where applicable, unless stated otherwise or defined herein.)
Reference is made to the Companys announcements dated 9 May 2014, 12 May 2014 and 20 May 2014 in relation to the Proposals.
On behalf of the Board of Directors of Excel Force, Public Investment Bank Berhad (PIVB) is pleased to announce that Bursa Malaysia Securities Berhad (Bursa Securities) had, vide its letter dated 22 May 2014, approved the following:
(i) admission to the Official List and listing of and quotation for 103,384,050 Warrants to be issued pursuant to the Proposed Bonus Issue of Warrants; and
(ii) listing of up to 103,384,050 new Excel Force Shares to be issued pursuant to the exercise of the Warrants.
The approval granted by Bursa Securities for the Proposed Bonus Issue of Warrants is subject to the following conditions:
(i) Excel Force and PIVB must fully comply with the relevant provisions under the Main Market Listing Requirements of Bursa Securities pertaining to the implementation of the Proposed Bonus Issue of Warrants;
(ii) Excel Force and PIVB to inform Bursa Securities upon the completion of the Proposed Bonus Issue of Warrants;
(iii) Excel Force to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities approval once the Proposed Bonus Issue of Warrants is completed; and
(iv) Excel Force is required to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the exercise of the Warrants as at the end of each quarter together with a detailed computation of listing fees payable.
This announcement is dated 22 May 2014.