General Announcement for PLC

21/01/2022

HEADS OF AGREEMENT WITH 5G INFRA TECH SOLUTION SDN BHD (FORMERLY KNOWN AS NMS ENGINEERING SDN BHD) ("5G INFRA TECH") TO INVEST THROUGH REDEEMABLE CONVERTIBLE PREFERENCE SHARES ("RCPS") IN 5G INFRA TECH ("INVESTMENT") ("HOA")

SERSOL BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-20012022-00002
Subject HEADS OF AGREEMENT WITH 5G INFRA TECH SOLUTION SDN BHD (FORMERLY KNOWN AS NMS ENGINEERING SDN BHD) ("5G INFRA TECH") TO INVEST THROUGH REDEEMABLE CONVERTIBLE PREFERENCE SHARES ("RCPS") IN 5G INFRA TECH ("INVESTMENT") ("HOA")
Description 
Sersol Berhad ("Sersol" or "the Company") 
- Heads of Agreement entered between the Company, SMTrack Berhad, Country Heights Holding Berhad, Jiankun International Berhad, Techna-X Berhad, MQ Technology Berhad and 5G Infra Tech Solution Sdn. Bhd. ("HOA")
Query Letter Contents

We refer to your Company’s announcement dated 17 January 2022, in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1) The tenure of the HOA and the commencement date thereof.
2) The expected timeframe for the consortium led by SMTrack Berhad (“Consortium”) and 5G Infra Tech to enter into a definitive agreement.
3) The issue price of the RCPS in 5G Infra Tech and the basis thereof.
4) Details of the RCPS in 5G Infra Tech:

  • rate and period of conversion;
  • rate and period of redemption;
  • tenure; and
  • the equity interest to be held by the Consortium or by each member of the Consortium (as the case may be) in 5G Infra Tech upon full conversion of the RCPS.

5) The estimated total capital/investment outlay required to be committed by Sersol Berhad (“Sersol”) in connection with the Investment, the source(s) of funding and the breakdown thereof.

6) Sersol's percentage equity interest in the Consortium, and whether the capital for the Investment will be contributed by all parties of the Consortium on a pro rata basis. To also state the reason thereof, if the capital contribution will not be on a pro rata basis.
7) To clarify the principal business of 5G Infra Tech.
8) Sersol’s future plans and prospects in connection with the Investment.
9) The business risks in connection with the Investment.

10) Whether the Consortium and/or 5G Infra Tech has secured any 5G and fiber optics related projects from Digital National Berhad as well Malaysian Communications and Multimedia Commission. If yes, to also disclose the details of such projects including the tenure, value and regulatory approvals required.
11) Details of the Memorandum of Agreement between Ennova Sdn Bhd and 5G Infra Tech.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully,
Listing, 
Regulation

Cc : Market Surveillance Dept. , Securities Commission (via fax)

Reference is made to Company's announcement on 17 January 2022 and Bursa Malaysia Securities Berhad ("Bursa Securities")'s query letter dated 20 January 2022 pertaining to the above matter.

 

Please refer to the attachment for the full text of the Company's reply to Bursa Securities.

 

This announcement is dated 21 January 2022.

 

Please refer attachment below.

Please refer attachment below.


Announcement Info

Company Name SERSOL BERHAD
Stock Name SERSOL
Date Announced 21 Jan 2022
Category General Announcement for PLC
Reference Number GA1-21012022-00068


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