General Announcement for PLC
04/10/2021NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING SILVER RIDGE HOLDINGS BERHAD ("SRHB" OR THE "COMPANY") PROPOSED PRIVATE PLACEMENT
SILVER RIDGE HOLDINGS BHD |
Type | Announcement |
Subject | NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) FUND RAISING |
Description | SILVER RIDGE HOLDINGS BERHAD ("SRHB" OR THE "COMPANY") PROPOSED PRIVATE PLACEMENT |
Unless stated otherwise, the terms used herein shall carry the same meaning as those defined in the earlier announcements in relation to the Proposed Private Placement. We refer to the earlier announcements dated 7 September 2021, 9 September 2021 and 29 September 2021 in relation to the Proposed Private Placement. On behalf of the Board, UOBKH wishes to announce that Bursa Securities had, vide its letter dated 1 October 2021 ("Approval Letter"), approved the listing and quotation of up to 37,677,460 Placement Shares to be issued pursuant to the Proposed Private Placement subject to the following conditions:- i. SRHB and UOBKH must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Private Placement; ii. SRHB and UOBKH to inform Bursa Securities upon the completion of the Proposed Private Placement; and iii. SRHB to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposed Private Placement is completed. In addition, pursuant to the Approval Letter, the planned expansion into Network Facility Provider ("NFP") is considered a diversification in operations of SRHB ("Proposed Diversification") pursuant to Rule 10.13 of the ACE Market Listing Requirements of Bursa Securities. In view of that, SRHB is required to obtain its shareholders' prior approval for the Proposed Diversification if the planned expansion into NFP is reasonably expected to result in either:- a. the diversion of 25% or more of the net assets of SRHB to an operation which differs widely from those operations previously carried on by SRHB; or b. the contribution from such an operation of 25% or more of the net profits of SRHB.
This announcement is dated 4 October 2021. |
Announcement Info
Company Name | SILVER RIDGE HOLDINGS BHD |
Stock Name | SRIDGE |
Date Announced | 04 Oct 2021 |
Category | General Announcement for PLC |
Reference Number | GA1-04102021-00128 |