General Announcement

20/05/2009

SANICHI TECHNOLOGY BERHAD (STB) PROPOSED SPECIAL ISSUE OF UP TO 53,507,200 NEW ORDINARY SHARES OF RM0.10 EACH IN STB (SPECIAL ISSUE SHARES), REPRESENTING UP TO 30% OF THE ENLARGED ISSUED AND PAID-UP SHARE CAPITAL OF STB (AFTER THE PROPOSED PRIVATE PLACEMENT AND PROPOSED SPECIAL ISSUE), AT AN ISSUE PRICE TO BE DETERMINED LATER (PROPOSED SPECIAL ISSUE)

SANICHI TECHNOLOGY BERHAD

TypeAnnouncement
SubjectSANICHI TECHNOLOGY BERHAD (STB)
PROPOSED SPECIAL ISSUE OF UP TO 53,507,200 NEW ORDINARY SHARES OF RM0.10 EACH IN STB (SPECIAL ISSUE SHARES), REPRESENTING UP TO 30% OF THE ENLARGED ISSUED AND PAID-UP SHARE CAPITAL OF STB (AFTER THE PROPOSED PRIVATE PLACEMENT AND PROPOSED SPECIAL ISSUE), AT AN ISSUE PRICE TO BE DETERMINED LATER (PROPOSED SPECIAL ISSUE)
Contents(Unless stated otherwise, definitions used in this announcement shall carry the same meaning as defined in the announcement dated 15 July 2008 pertaining to the Proposed Special Issue)

Reference is made to the announcement dated 19 March 2009 wherein the Board has announced that the SC had, vide its letter dated 18 March 2009 (SC Approval Letter) granted the following exemptions to STB subject to MITI confirming that MITI is unable to allocate the Special Issue Shares to Buimputera investors by 24 April 2009 (Exemption):

(i) STB to be deemed to have complied with the Bumiputera Equity Condition and be exempted from having to implement the Proposed Special Issue; and

(ii) Waiver on the requirement of having to set aside 30% of the placement shares for subscription by Bumiputera investors pursuant to the Proposed Private Placement.

In respect of the above and on behalf of STB, Alliance Investment Bank Berhad (Alliance) wishes to announce that MITI had, vide its letter dated 18 May 2009 informed that as at 15 May 2009, despite several rounds of offer/ invitation extended to Bumiputera investors to subscribe for the Special Issue Shares, MITI has not received any positive response on the said offer/ invitation.

Premised on the above and on behalf of STB, Alliance wishes to announce that the Exemption is deemed effective as at the date of this announcement in accordance with the condition stipulated in the SC Approval Letter.

This announcement is dated 20 May 2009.

Announcement Info

Company NameSANICHI TECHNOLOGY BERHAD (MESDAQ Market) 
Stock Name SANICHI
Date Announced20 May 2009  
CategoryGeneral Announcement
Reference NoMM-090520-52746

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