MULTIPLE PROPOSALS K-STAR SPORTS LIMITED ("K-STAR" OR THE "COMPANY") - PROPOSED SPECIAL ISSUE; AND - PROPOSED INTERNAL REORGANISATION (COLLECTIVELY, REFERRED AS THE "PROPOSALS")
K-STAR SPORTS LIMITED |
Type | Announcement |
Subject | MULTIPLE PROPOSALS |
Description | K-STAR SPORTS LIMITED ("K-STAR" OR THE "COMPANY") - PROPOSED SPECIAL ISSUE; AND - PROPOSED INTERNAL REORGANISATION (COLLECTIVELY, REFERRED AS THE "PROPOSALS") |
On behalf of the Board of Directors of K-Star (“Board”), M&A Securities Sdn Bhd wishes to announce that K-Star and its subsidiaries (“Group” or “K-Star Group”) proposes to undertake the following:
(aa) all existing K-Star Shares with new ordinary shares in a new investment holding company, namely Bluesky Capital Sdn. Bhd. (“Newco”) (“Newco Shares”) on a one-for-one basis; and
(bb) all outstanding warrants 2018/2021 (“K-Star Warrants” or “Warrants”) with new warrants to be issued by Newco (“Newco Warrants”) on a one-for-one basis;
as at an entitlement date to be determined and announced by the Board (“Proposed Securities Exchange”);
Further, the Company had on 30 June 2020 entered into a conditional scheme agreement with Newco for the Proposed Internal Reorganisation. Further details of the Proposed Special Issue and every components of the Proposed Internal Reorganisation are set out in the announcement attached.
This announcement is dated 30 June 2020. |
Please refer attachment below.
Announcement Info
Company Name | K-STAR SPORTS LIMITED |
Stock Name | KSTAR |
Date Announced | 30 Jun 2020 |
Category | General Announcement for PLC |
Reference Number | GA1-30062020-00040 |