On behalf of the Board of Directors of TIGB , KAF Investment Bank Berhad wishes to announce that TIGB proposes to undertake a proposed internal reorganisation by way of a member’s scheme of arrangement under Section 366 of the Companies Act 2016 comprising the following:-

(i)            proposed securities exchange, whereby the existing shareholders and warrant holders of TIGB will exchange all their existing securities held in TIGB with new securities in Toyo Ventures Holdings Berhad (“NewCo”) on an entitlement date to be determined later (“Proposed Securities Exchange”); and 

(ii)           proposed assumption of the listing status of TIGB by NewCo, the admission of NewCo to, and withdrawal of TIGB from, the Official List of Bursa Malaysia Securities Berhad (“Bursa Securities”), with the listing of and quotation for the new ordinary shares in NewCo and new warrants in NewCo on the Main Market of Bursa Securities (“Proposed Listing Transfer”),

collectively referred to as, the “Proposed Internal Reorganisation”.

To facilitate the implementation of the Proposed Internal Reorganisation, TIGB had on today entered into a conditional scheme agreement with NewCo.

Kindly refer to the attached document for the full announcement.

This announcement is dated 23 January 2020.