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Notice of the Extraordinary General Meeting which will be conducted entirely on a fully virtual basis through live streaming online meeting platform
Date of Meeting
26 Oct 2021
Time
10:00 AM
Venue(s)
Online Meeting Platform of TIIH Online provided by
Tricor Investor & Issuing House Services Sdn Bhd
via Remote Participation and Electronic Voting facilities
at https://tiih.online in
Malaysia
Date of General Meeting Record of Depositors
18 Oct 2021
Resolutions
1. Ordinary Resolution 1
Description
Proposed Acquisition by Advancecon of 260,100,006 ordinary shares in Spring Energy Resources Berhad ("SERB"), representing 51% equity interest from Fook Hua Holdings Sdn Bhd ("FHHSB" or the "Vendor") for a total purchase consideration of RM30,400,000 to be satisfied via a combination of cash payment of RM15,220,000 and issuance of 33,000,000 new ordinary shares of Advancecon ("consideration share(s)" or "share(s)") at the issue price of RM0.46 per consideration share ("Proposed Acquisition")
Shareholder’s Action
For Voting
2. Ordinary Resolution 2
Description
Proposed Diversification of the existing principal activities of Advancecon and its subsidiaries to include Quarry Operation and related activities ("Proposed Diversification")