Document Submission

21/02/2020

Circular/Notice to Shareholders

SAND NISKO CAPITAL BERHAD

Subject CIRCULAR TO SHAREHOLDERS IN RELATION TO THE: PART A (I) PROPOSED DISPOSAL BY SAND NISKO CAPITAL BERHAD ("SNCB") OF ITS ENTIRE EQUITY INTEREST IN LEN CHEONG FURNITURE SDN BHD, ITS WHOLLY-OWNED SUBSIDIARY TO DPS REALTY SDN BHD FOR A TOTAL CASH CONSIDERATION OF RM10,000,000 ("PROPOSED DISPOSAL"); (II) PROPOSED PRIVATE PLACEMENT OF UP TO 13,200,000 NEW ORDINARY SHARES IN SNCB REPRESENTING UP TO 20% OF THE ISSUED SHARE CAPITAL OF SNCB TO INDEPENDENT THIRD PARTY INVESTOR(S) TO BE IDENTIFIED LATER ("PROPOSED PRIVATE PLACEMENT"); (III) PROPOSED SPECIAL ISSUE OF UP TO 6,600,000 NEW SNCB SHARES REPRESENTING UP TO 10% OF THE ISSUED SHARE CAPITAL OF SNCB TO DATO SERI (DR) SOW CHIN CHUAN, JP ("PROPOSED SPECIAL ISSUE"); (IV) PROPOSED ESTABLISHMENT OF AN EMPLOYEES SHARE OPTION SCHEME INVOLVING UP TO 15% OF THE ENLARGED ISSUED SHARE CAPITAL OF SNCB (AFTER THE PROPOSED PRIVATE PLACEMENT AND PROPOSED SPECIAL ISSUE) TO ELIGIBLE DIRECTORS AND EMPLOYEES OF SNCB AND ITS SUBSIDIARIES; AND PART B INDEPENDENT ADVICE LETTER FROM SIERAC CORPORATE ADVISERS SDN BHD TO THE NON-INTERESTED SHAREHOLDERS OF SNCB IN RELATION TO THE PROPOSED DISPOSAL


Please refer attachment below.


Announcement Info

Company Name SAND NISKO CAPITAL BERHAD
Stock Name SNC
Date Announced 21 Feb 2020
Category Document Submission
Reference Number DCS-21022020-00002


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