MULTIPLE PROPOSALS BINTAI KINDEN CORPORATION BERHAD ("BINTAI" OR THE "COMPANY") (I) PROPOSED DIVERSIFICATION; AND (II) PROPOSED PRIVATE PLACEMENT (COLLECTIVELY, THE "PROPOSALS")
| BINTAI KINDEN CORPORATION BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | BINTAI KINDEN CORPORATION BERHAD ("BINTAI" OR THE "COMPANY")
(I) PROPOSED DIVERSIFICATION; AND
(II) PROPOSED PRIVATE PLACEMENT
(COLLECTIVELY, THE "PROPOSALS") |
|
Unless otherwise defined, the definitions set out in the previous announcements in relation to the Proposals shall apply herein.
Reference is made to the earlier announcement dated 21 January 2021 and 9 February 2021 in relation to the Proposals.
The Company had on 12 April 2021 entered into a memorandum of understanding with Yeo Eng Lam for the proposed acquisition of the entire equity interest in Johnson Medical International Sdn Bhd (“JMI”) (“Proposed Acquisition”) (“MOU”). Both parties are currently in active negotiations to finalise the terms of the definitive agreements to be entered into for the Proposed Acquisition.
As a result of this new development, the Company is currently undertaking a review on its future business strategy to rebalance its medical asset portfolio, which includes its current participation in the Mixed Development Projects. Such review may also result in variations of the Proposals and the overall funding requirements.
In this regard, on behalf of the Company, M&A Securities wishes to announce that the Board has decided to withdraw the additional listing application for the Proposals which was submitted to Bursa Securities on 9 February 2021 pending such review.
This announcement is dated 19 April 2021. |
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Announcement Info
| Company Name | BINTAI KINDEN CORPORATION BERHAD |
| Stock Name | BINTAI |
| Date Announced | 19 Apr 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-19042021-00078 |