SYCAL

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MULTIPLE PROPOSALS SYCAL VENTURES BERHAD ("SVB" OR THE "COMPANY") (I) PROPOSED RIGHTS ISSUE OF IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES; AND (II) PROPOSED ADOPTION OF NEW CONSTITUTION (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

SYCAL VENTURES BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description 
SYCAL VENTURES BERHAD ("SVB" OR THE "COMPANY")

(I) 	PROPOSED RIGHTS ISSUE OF IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES; AND

(II)	PROPOSED ADOPTION OF NEW CONSTITUTION 

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

On behalf of the Board of Directors of SVB, SJ Securities Sdn Bhd wishes to announce that the Company proposes to undertake the following:

  1. proposed renounceable rights issue of up to 6,244,866,420 irredeemable convertible preference shares (“ICPS”) on the basis of 15 ICPS for every 1 existing ordinary share in SVB (“SVB Share” or “Share”) held on an entitlement date to be determined later at an issue price of  RM0.01 per ICPS (“Proposed Rights Issue”); and
  2. proposed adoption of new Constitution of SVB to conform to the Companies Act 2016 and to facilitate the issuance of the ICPS (“Proposed Adoption of New Constitution”).

Kindly refer to the attachment for the further details on the Proposals. 

 

The announcement is dated 6 December 2019.


Please refer attachment below.

Attachments

SVB - Final Initial Announceent 06.12.2019.pdf
659.2 kB


Announcement Info

Company Name SYCAL VENTURES BERHAD
Stock Name SYCAL
Date Announced 06 Dec 2019
Category General Announcement for PLC
Reference Number GA1-06122019-00025


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