General Meeting
11/03/2020GENERAL MEETINGS: Outcome of Meeting
| SAND NISKO CAPITAL BERHAD |
| Type of Meeting | Extraordinary |
| Indicator | Outcome of Meeting |
| Date of Meeting | 11 Mar 2020 |
| Time | 09:30 AM |
| Venue(s) |
The Conference Room, Lot 76 & 77, Kawasan Perindustrian Bukit Rambai, 75250 Melaka. Malaysia |
| Outcome of Meeting | The Board of Directors of Sand Nisko Capital Berhad ("the Company") wishes to announce that at the Extraordinary General Meeting ("EGM") of the Company held on 11 March 2020, all the Resolutions as set out in the Notice dated 21 February 2020 were duly passed by the shareholders present.
All the resolutions were voted by poll and the results of the poll were validated by Messrs. Owen KLCA, the Independent Scrutineers appointed by the Company.
Please refer to the attachment for the details of the poll results.
This announcement is dated 11 March 2020. |
Voting Results |
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1. ORDINARY RESOLUTION 1 |
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| Description |
PROPOSED DISPOSAL BY SNCB OF ITS ENTIRE EQUITY INTEREST IN LEN CHEONG FURNITURE SDN BHD ("LCF"), ITS WHOLLY-OWNED SUBSIDIARY TO DPS REALTY SDN BHD ("DPSR") FOR A TOTAL CASH CONSIDERATION OF RM10,000,000.00 ("PROPOSED DISPOSAL")
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| Shareholder’s Action | For Voting | |
| Voted | For | Against |
| No. of Shareholders | 4 | 6 |
| No. of Shares | 11,119,000 | 469,800 |
| % of Voted Shares | 95.9461 | 4.0539 |
| Result | Accepted | |
2. ORDINARY RESOLUTION 2 |
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| Description |
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 ("PROPOSED PRIVATE PLACEMENT")
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| Shareholder’s Action | For Voting | |
| Voted | For | Against |
| No. of Shareholders | 10 | 6 |
| No. of Shares | 30,498,400 | 469,800 |
| % of Voted Shares | 98.4830 | 1.5170 |
| Result | Accepted | |
3. ORDINARY RESOLUTION 3 |
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| Description |
PROPOSED SPECIAL ISSUE OF UP TO 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")
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|
| Shareholder’s Action | For Voting | |
| Voted | For | Against |
| No. of Shareholders | 4 | 6 |
| No. of Shares | 11,119,000 | 469,800 |
| % of Voted Shares | 95.9461 | 4.0539 |
| Result | Accepted | |
4. ORDINARY RESOLUTION 4 |
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| Description |
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 THE ELIGIBLE DIRECTORS AND EMPLOYEES OF SNCB AND ITS SUBSIDIARIES ("SNCB GROUP") ("PROPOSED ESOS")
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| Shareholder’s Action | For Voting | |
| Voted | For | Against |
| No. of Shareholders | 4 | 6 |
| No. of Shares | 11,119,000 | 469,800 |
| % of Voted Shares | 95.9461 | 4.0539 |
| Result | Accepted | |
Please refer attachment below.
Attachments
SNC - EGM Poll Results.pdf
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Announcement Info
| Company Name | SAND NISKO CAPITAL BERHAD |
| Stock Name | SNC |
| Date Announced | 11 Mar 2020 |
| Category | General Meeting |
| Reference Number | GMA-01032020-00001 |
| Corporate Action ID | MY200301MEET0001 |
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