TGL

1.240

+0.08 (+6.9%)

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : COMBINATION OF NEW ISSUE OF SECURITIES TEO GUAN LEE CORPORATION BERHAD ("TGL" OR "COMPANY") (I) PROPOSED BONUS ISSUE; AND (II) PROPOSED ESTABLISHMENT OF A LONG TERM INCENTIVE PLAN (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

TEO GUAN LEE CORPORATION BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
COMBINATION OF NEW ISSUE OF SECURITIES
Description
TEO GUAN LEE CORPORATION BERHAD ("TGL" OR "COMPANY")

(I)	PROPOSED BONUS ISSUE; AND

(II)	PROPOSED ESTABLISHMENT OF A LONG TERM INCENTIVE PLAN

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

We refer to the announcements dated 23 April 2021 and 27 April 2021 (“Announcements”).

(Unless otherwise defined, the abbreviations used throughout this announcement are the same as those previously defined in the Announcements).

On behalf of the Board, Affin Hwang IB wishes to announce that Bursa Securities had vide its letter dated 10 May 2021, resolved to approve the following:

(i) listing and quotation of 40,742,200 Bonus Shares to be issued pursuant to the Proposed Bonus Issue; and

(ii) listing and quotation of such number of new TGL Shares, representing up to 10% of the total number of issued shares of TGL to be issued pursuant to the Proposed LTIP.

The approval granted by Bursa Securities is subject to the following conditions: 

(i) TGL and Affin Hwang IB must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposals;

(ii) TGL is required to furnish Bursa Securities with a certified true copy of the resolutions passed by the shareholders at the extraordinary general meeting approving the Proposals;

(iii) TGL and Affin Hwang IB to inform Bursa Securities upon completion of the Proposals;

(iv) TGL is required to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposals are completed;

(v) TGL and Affin Hwang IB are required to make the relevant announcements in accordance with Paragraphs 6.35(2)(a) & (b) and 6.35(4) of the Listing Requirements;

(vi) TGL is required to submit a confirmation to Bursa Securities of full compliance of the Proposed LTIP pursuant to Paragraph 6.43(1) of the Listing Requirements and stating the effective date of implementation; and

(vii) Payment of additional listing fees pertaining to the exercise of LTIP options, if relevant. In this respect, TGL is required to furnish Bursa Securities on a quarterly basis a summary of the total number of new Shares listed pursuant to the exercise of LTIP options as at the end of each quarter together with a detailed computation of listing fees payable.

 

This announcement is dated 11 May 2021.






Announcement Info

Company Name TEO GUAN LEE CORPORATION BERHAD
Stock Name TGL
Date Announced 11 May 2021
Category General Announcement for PLC
Reference Number GA1-11052021-00016