3115

0.000

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PUBLIC SHAREHOLDINGS SPREAD

KARAMBUNAI CORP BHD

Type Announcement
Subject PUBLIC SHAREHOLDINGS SPREAD
Description
KARAMBUNAI CORP BHD ("KCB" OR THE "COMPANY")

PUBLIC SHAREHOLDING SPREAD PURSUANT TO PARAGRAPH 8.02(1) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") ("LISTING REQUIREMENTS")

We refer to the announcements dated 5 August 2016, 4 January 2017, 24 March 2017, 21 June 2017, 20 September 2017, 5 March 2018, 27 July 2018, 23 January 2019 and 9 August 2019 in relation to the public shareholding spread pursuant to paragraph 8.02(1) of the Listing Requirements of Bursa Securities, as well as announcement dated 1 November 2019 in relation to the unconditional voluntary take-over offer from UOB Kay Hian Securities (M) Sdn Bhd on behalf of Tan Sri Dr Chen Lip Keong to acquire the Offer Shares and the Offer Warrants at a cash consideration of RM0.11 per Offer Share and RM0.03 per Offer Warrant, respectively ("Offer"). The Offer will close at 5.00 p.m. (Malaysian time) on Monday, 4 November 2019 ("Closing Date").

 

Pursuant to the Offer thus far, we wish to inform that the public shareholding spread of KCB as at 1 November 2019 is 9.16%, and as such KCB continues to be deemed not in compliance with the public shareholding spread requirement.

 

In accordance with Paragraph 16.02(3) of the Listing Requirements, as the Offeror and the PAC collectively hold more than 90% of the listed shares in KCB as a result of the Offer and in view that the Offeror does not intend to maintain the listing status of KCB, Bursa Securities will suspend the trading of KCB Shares upon the expiry of 5 market days from the Closing Date. Thereafter, the Offeror will procure KCB to take the requisite steps to withdraw its listing status from the Official List of Bursa Securities, in accordance with Paragraph 16.07 of the Listing Requirements.

 

Premised on the above, the Offeror will not take any steps to address the shortfall in the public shareholding spread of KCB.

 

This announcement is dated 1 November 2019.






Announcement Info

Company Name KARAMBUNAI CORP BHD
Stock Name KBUNAI
Date Announced 01 Nov 2019
Category General Announcement for PLC
Reference Number GA1-01112019-00103