SYCAL

0.210

+0.01 (+5%)

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")

We refer to the announcements made on 6 December 2019 and 31 January 2020 in relation to the Proposals (“Announcements”). For the consistency purposes, the abbreviations used in this announcement are the same as those previously defined in the Announcements unless otherwise define herein.

On behalf of the Board of Directors of SVB, SJ Securities Sdn Bhd ("SJ Securities") had on 6 December 2019 announced that SVB has procured and secured the undertakings from Dato' Seow Yong Chin ("Dato' Seow"), Cygal Holdings Sdn Bhd ("CHSB") and SYC Holdings Sdn Bhd ("SYCHSB") to subscribe in full based on their respective entitlements under the Proposed Rights Issue of Irredeemable Convertible Preference Shares ("ICPS") together with excess ICPS applications by Dato' Seow as set out below:

	Direct shareholdings as at 25 November 2019		Entitlement Undertaking	Additional Undertaking	Total Undertaking
Undertaking Shareholder	No. of Shares	%	No. of ICPS	No. of ICPS	No. of ICPS	%
	‘000		‘000	‘000	‘000
Dato’ Seow	47,647	11.44	714,709	896,737	1,611,446	25.80
CHSB	15,773	3.79	236,595	-	236,595	3.79
SYCHSB	10,131	2.43	151,959	-	151,959	2.43
Total	73,551	17.67	1,103,263	896,737	2,000,000	32.03

SJ Securities wishes to inform that SVB has procured and secured additional 2 undertaking shareholders i.e. Fantastic Hallmark Sdn Bhd ("FHSB") and Westhill Capital Sdn Bhd ("WCSB") to subscribe in full based on their respective entitlements under the Proposed Rights Issue of ICPS together with excess ICPS applications, hence the revised Undertaking Shareholders' subscription is set out below:

	Shareholdings as at 31 December 2019		Entitlement Undertaking	Additional Undertaking	Total Undertaking
Undertaking Shareholder	No. of Shares	%	No. of ICPS	No. of ICPS	No. of ICPS	%
	‘000		‘000	‘000	‘000
Dato’ Seow	47,647	11.44	714,709	-	714,709	11.44
CHSB	15,773	3.79	236,595	-	236,595	3.79
SYCHSB	10,131	2.43	151,959	-	151,959	2.43
FHSB	22,306	5.36	334,591	64,182	398,773	6.39
WCSB	28,919	6.95	433,782	64,182	497,964	7.97
Total	124,776	29.97	1,871,636	128,364	2,000,000	32.02

This announcement is dated 31 January 2020.

Announcement Info

Company Name	SYCAL VENTURES BERHAD
Stock Name	SYCAL
Date Announced	31 Jan 2020
Category	General Announcement for PLC
Reference Number	GA1-31012020-00027

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