PUC

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MULTIPLE PROPOSALS PUC BERHAD ("PUC" OR THE "COMPANY") (I) PROPOSED ACQUISITION BY PUC OF 12,336,288 ORDINARY SHARES IN PICTUREWORKS HOLDINGS SDN. BHD. ("PWHSB"), REPRESENTING 67% EQUITY INTEREST IN PWHSB FOR A TOTAL PURCHASE CONSIDERATION OF RM142.04 MILLION ("PROPOSED ACQUISITION"); AND (II) PROPOSED CONSOLIDATION OF EVERY 5 ORDINARY SHARES IN PUC ("PUC SHARES") INTO 1 PUC SHARE ("PROPOSED SHARE CONSOLIDATION") (COLLECTIVELY REFERRED TO AS "PROPOSALS")

PUC BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
PUC BERHAD ("PUC" OR THE "COMPANY")

(I) PROPOSED ACQUISITION BY PUC OF 12,336,288 ORDINARY SHARES IN PICTUREWORKS HOLDINGS SDN. BHD. ("PWHSB"), REPRESENTING 67% EQUITY INTEREST IN PWHSB FOR A TOTAL PURCHASE CONSIDERATION OF RM142.04 MILLION ("PROPOSED ACQUISITION"); AND

(II) PROPOSED CONSOLIDATION OF EVERY 5 ORDINARY SHARES IN PUC ("PUC SHARES") INTO 1 PUC SHARE ("PROPOSED SHARE CONSOLIDATION")

(COLLECTIVELY REFERRED TO AS "PROPOSALS")

Reference is made to the announcements dated 31 December 2018, 26 February 2019, 4 March 2019, 28 May 2019, 3 June 2019, 30 August 2019, 13 September 2019, 19 November 2019, 22 November 2019 and 29 November 2019 in relation to the Proposals.

On behalf of the Board, MIDF Investment is pleased to announce that Bursa Securities has approved the following:

(I) Proposed Share Consolidation; and

(II) Listing of 270,269,286 new PUC Shares (or 54,053,857 adjusted PUC Shares upon implementation of the Proposed Share Consolidation) to be issued pursuant to the Proposed Acquisition.

The approval granted by Bursa Securities for the Proposed Share Consolidation and Proposed Acquisition is subject to the following conditions:

(I) PUC or MIDF Investment is required to make the relevant announcements pursuant to Rule 13.20(2) of the ACE Market Listing Requirements ("ACE LR") for the Proposed Share Consolidation;

(II) PUC and MIDF Investment must fully comply with the relevant provisions under the ACE LR pertaining to the implementation of the Proposals;

(III) PUC and MIDF Investment to inform Bursa Securities upon the completion of the Proposals;

(IV) PUC to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposals are completed;

(V) Compliance by PUC with the public shareholding spread upon completion of the Proposals. In this connection, MIDF Investment is to furnish a schedule containing the information set out in Appendix 8E, Chapter 8 of the ACE LR to Bursa Securities, upon completion of the Proposals; and

(VI) PUC to furnish Bursa Securities with a certified true copy of the resolutions passed by the shareholders in general meeting approving the Proposals.

This announcement is dated 21 January 2020.






Announcement Info

Company Name PUC BERHAD
Stock Name PUC
Date Announced 21 Jan 2020
Category General Announcement for PLC
Reference Number GA1-26122019-00058