Type | Announcement |
Subject | PRACTICE NOTE 17 / GUIDANCE NOTE 3 REGULARISATION PLAN |
Description | FSBM HOLDINGS BERHAD ("FSBM" OR THE "COMPANY") PROPOSED REGULARISATION PLAN |
On behalf of the Board of Directors of FSBM, Malacca Securities Sdn. Bhd. wishes to make the requisite announcement pursuant to Paragraph 4.2 of Practice Note 17 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, which sets out the Company's proposed regularisation plan comprising the following:-
(a) a proposed shares issuance of 60.0 million new ordinary shares in FSBM ("FSBM Shares" or "Shares") ("Subscription Shares") representing approximately 30% of FSBM's enlarged issued shares after the shares issuance to the subscribers ("Proposed Shares Issuance");
(b) the proposed disposal of the following subsidiaries:-
for a total cash consideration of RM2.0 million ("Proposed Disposal")
(c) a proposed renounceable rights issue of up to 250,006,290 new FSBM Shares on the basis of 1 rights share ("Rights Shares") for every 1 existing FSBM Share held, together with up to 125,003,145 free detachable warrants ("Warrants") on the basis of 1 Warrant for every 2 Rights Shares subscribed for, on an entitlement date to be determined and announced later ("Proposed Rights Issue with Warrants"); and
(d) a proposed capital reduction exercise to be carried out by the Company, pursuant to Section 116 of the Companies Act, 2016 ("Act") to reduce the share capital of the Company ("Proposed Capital Reduction"),
(collectively, referred to as the "Proposed Regularisation Plan").
Further details of the Proposed Regularisation Plan are set out in the enclosed attachment
This announcement is dated 15 October 2021. |
Please refer attachment below.
Company Name | FSBM HOLDINGS BERHAD |
Stock Name | FSBM |
Date Announced | 15 Oct 2021 |
Category | General Announcement for PLC |
Reference Number | GA1-15102021-00087 |