EASTLND

0.135

(%)

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : OTHER ISSUE OF SECURITIES EASTLAND EQUITY BHD. ("EASTLAND" OR THE "COMPANY") PROPOSED SETTLEMENT OF RM10.99 MILLION DEBTS OWING TO LEE CHEE KIANG, ITS MANAGING DIRECTOR, VIA THE ISSUANCE OF 104,966,571 NEW ORDINARY SHARES IN EASTLAND ("SETTLEMENT SHARES") AT AN ISSUE PRICE OF RM0.1047 PER SETTLEMENT SHARE ("PROPOSED DEBT SETTLEMENT")

EASTLAND EQUITY BHD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
OTHER ISSUE OF SECURITIES
Description
EASTLAND EQUITY BHD. ("EASTLAND" OR THE "COMPANY")

PROPOSED SETTLEMENT OF RM10.99 MILLION DEBTS OWING TO LEE CHEE KIANG, ITS MANAGING DIRECTOR, VIA THE ISSUANCE OF 104,966,571 NEW ORDINARY SHARES IN EASTLAND ("SETTLEMENT SHARES") AT AN ISSUE PRICE OF RM0.1047 PER SETTLEMENT SHARE ("PROPOSED DEBT SETTLEMENT")

This announcement is date 21 January 2021.

 

Reference is made to the announcements in relation to the Company's Proposed Debt Settlement dated 26 November 2020 and 30 November 2020 ("Earlier Announcements”). Unless otherwise stated, defined terms in this announcement shall carry the same meanings as defined in the Earlier Announcements.

 

On behalf of the Board of Directors of Eastland, AmInvestment Bank Berhad (“AmInvestment Bank”) wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had, vide its letter dated 21 January 2021, approved the listing of and quotation for 104,966,571 new Eastland shares to be issued pursuant to the Proposed Debt Settlement, subject to the following conditions:-

 

1. Eastland and AmInvestment Bank must fully comply with the relevant provisions under the Main Market Listing Requirements ("MMLR") pertaining to the implementation of the Proposed Debt Settlement;

2. Eastland and AmInvestment Bank to inform Bursa Securities upon the completion of the Proposed Debt Settlement;

3. Eastland to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposed Debt Settlement is completed; and

4. Eastland to furnish Bursa Securities with a certified true copy of the resolution passed by the shareholders in general meeting approving the Proposed Debt Settlement.






Announcement Info

Company Name EASTLAND EQUITY BHD
Stock Name EASTLND
Date Announced 21 Jan 2021
Category General Announcement for PLC
Reference Number GA1-21012021-00087