General Announcement for PLC

27/09/2019

MULTIPLE PROPOSALS SAND NISKO CAPITAL BERHAD ("SNCB" OR THE "COMPANY") (I) PROPOSED DISPOSAL; (II) PROPOSED PRIVATE PLACEMENT; (III) PROPOSED SPECIAL ISSUE; AND (IV) PROPOSED ESOS (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

SAND NISKO CAPITAL BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description 
SAND NISKO CAPITAL BERHAD ("SNCB" OR THE "COMPANY")

(I) PROPOSED DISPOSAL;

(II) PROPOSED PRIVATE PLACEMENT; 

(III) PROPOSED SPECIAL ISSUE; AND

(IV) PROPOSED ESOS

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

On behalf of the Board of Directors of SNCB, SJ Securities Sdn Bhd (“SJ Securities”) wishes to announce that the Company proposes to undertake the following: -

  1. Proposed disposal by SNCB of its entire equity interest in Len Cheong Furniture Sdn Bhd, its wholly-owned subsidiary (“LCF”) to DPS Realty Sdn Bhd (“DPSR” or the “Purchaser”) for a total cash consideration of RM10,000,000. (“Proposed Disposal”); 
  2. Proposed private placement of up to 13,200,000 new ordinary shares in SNCB (“SNCB Shares”) (“Placement Shares”) representing up to 20% of the issued share capital of SNCB to independent third party investor(s) to be identified later (“Placees”). (“Proposed Private Placement”);
  3. Proposed special issue of 6,600,000 new SNCB shares (“SI Shares”) representing up to 10% of the issued share capital of SNCB to Dato’ Seri (Dr) Sow Chin Chuan, JP (“Dato’ Seri Sow”). (“Proposed Special Issue”); and
  4. Proposed establishment of an employee share option scheme (“ESOS”) 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 (“SNCB Group”). (“Proposed ESOS”)

(Collectively referred to as the “Proposals”)


Details of the Proposals are set out in the ensuing attachment.

This announcement is dated 27 September 2019.


Please refer attachment below.


Announcement Info

Company Name SAND NISKO CAPITAL BERHAD
Stock Name SNC
Date Announced 27 Sep 2019
Category General Announcement for PLC
Reference Number GA1-27092019-00056


Related Announcements for SNC
Date Title
04/08/2022 OTHERS SAND NISKO CAPITAL BERHAD ("SNC" OR "THE COMPANY") - OFFER OF OPTIONS UNDER EMPLOYEES' SHARE OPTION SCHEME OF THE COMPANY
06/05/2022 OTHERS SAND NISKO CAPITAL BERHAD ("SNC" OR "COMPANY") VARIATION OF UTILISATION OF PROCEEDS ("VARIATION")
04/03/2022 Proposed disposal of the entire issued share capital of Len Cheong Resources Sdn. Bhd. ("LCR") for a total cash consideration of approximately RM1.29 million ("Proposed Disposal")
01/03/2022 TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS SAND NISKO CAPITAL BERHAD ("SNC" OR "COMPANY") PROPOSED DISPOSAL OF THE ENTIRE ISSUED SHARE CAPITAL OF LEN CHEONG RESOURCES SDN. BHD. ("LCR") FOR A TOTAL CASH CONSIDERATION OF APPROXIMATELY RM1.29 MILLION ("PROPOSED DISPOSAL")
01/03/2022 OTHERS SAND NISKO CAPITAL BERHAD ("SNC" OR "COMPANY") JOINT VENTURE AGREEMENT ("JVA") BETWEEN LEN CHEONG INDUSTRIES SDN. BHD. ("LCI"), A WHOLLY OWNED SUBSIDIARY OF SNC, WITH INTEGRATED BIOGRANIX VENTURES SDN. BHD. ("INTEGRATED") ("PARTIES")
28/01/2022 TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS SAND NISKO CAPITAL BERHAD ("SNC" OR "COMPANY") PROPOSED ACQUISITION BY LEN CHEONG RESOURCES SDN BHD (A WHOLLY-OWNED SUBSIDIARY OF SNC) ("LCR" OR "PURCHASER") OF A PIECE OF FREEHOLD LAND HELD UNDER GRN 9505 LOT 68, MUKIM OF LENDU, DISTRICT OF ALOR GAJAH, STATE OF MELAKA MEASURING WITH AN APPROXIMATE AREA OF 25.880 ACRES ("PROPERTY") FOR A TOTAL CASH CONSIDERATION OF RM5,823,000 ("PURCHASE PRICE")("PROPOSED ACQUISITION")
20/12/2021 OTHERS SAND NISKO CAPITAL BERHAD ("SNC" OR "COMPANY") MEMORANDUM OF UNDERSTANDING BETWEEN LEN CHEONG INDUSTRIES SDN BHD ("LCI") A WHOLLY-OWNED SUBSIDIARY OF SNC AND FABULOUS SUNVIEW SDN BHD ("SUNVIEW") ON COLLABORATION TO INTEGRATE LARGE SCALE SOLAR FARM
16/12/2021 MULTIPLE PROPOSALS SAND NISKO CAPITAL BERHAD ("SNC" OR "COMPANY") (I) SHARE SPLIT; AND (II) BONUS ISSUE OF WARRANTS (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
01/12/2021 TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS SAND NISKO CAPITAL BERHAD ("SNC" OR "COMPANY") PROPOSED JOINT VENTURE BETWEEN LEN CHEONG RESOURCES SDN BHD ("LCR" OR THE "DEVELOPER") A WHOLLY-OWNED SUBSIDIARY OF SNC AND MUTIARA MAHAJUTA SDN BHD (REPRESENTING A GROUP OF INDIVIDUAL LANDOWNERS) ("MUTIARA" OR THE "LANDOWNER") FOR LONG-TERM 2 PHASES DEVELOPMENT OF LANDS IN THE STATE OF MELAKA ("PROPOSED JV")
22/11/2021 MULTIPLE PROPOSALS SAND NISKO CAPITAL BERHAD ("SNC" OR "COMPANY") (I) SHARE SPLIT; AND (II) BONUS ISSUE OF WARRANTS (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")