MULTIPLE PROPOSALS SCH GROUP BERHAD ("SCH" OR THE "COMPANY") (i) PROPOSED SHARE CONSOLIDATION; (ii) PROPOSED RIGHTS ISSUE; AND (iii) PROPOSED EXEMPTION (COLLECTIVELY, THE "PROPOSALS")
| SCH GROUP BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | SCH GROUP BERHAD ("SCH" OR THE "COMPANY")
(i) PROPOSED SHARE CONSOLIDATION;
(ii) PROPOSED RIGHTS ISSUE; AND
(iii) PROPOSED EXEMPTION
(COLLECTIVELY, THE "PROPOSALS") |
|
This announcement is dated 6 November 2020.
On behalf of the Board of Directors of SCH, AmInvestment Bank Berhad wishes to announce that the Company proposes to undertake the following:-
(i) proposed consolidation of every 3 ordinary shares in SCH (“SCH Shares” or “Shares”) into 1 consolidated SCH Share (“Consolidated Share”) (“Proposed Share Consolidation”);
(ii) proposed rights issue of new SCH Shares (“Rights Shares”) to raise gross proceeds of up to RM155 million (“Proposed Rights Issue”); and
(iii) proposed exemption to Hextar Holdings Sdn Bhd (“Hextar”) and persons acting in concert (“PACs”) with it to undertake a mandatory offer for the remaining SCH Shares not already owned by them arising from the subscription by Hextar of the Rights Shares pursuant to the irrevocable undertakings (“Proposed Exemption”).
Please refer to the attachment for further details on the Proposals. |
|
Please refer attachment below.
Announcement Info
| Company Name | SCH GROUP BERHAD |
| Stock Name | SCH |
| Date Announced | 06 Nov 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-06112020-00036 |