TWL

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MULTIPLE PROPOSALS TWL HOLDINGS BERHAD (FORMERLY KNOWN AS TIGER SYNERGY BERHAD) ("TWL" OR THE "COMPANY") (I) PROPOSED ISSUANCE; AND (II) PROPOSED PRIVATE PLACEMENT (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

TWL HOLDINGS BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
TWL HOLDINGS BERHAD (FORMERLY KNOWN AS TIGER SYNERGY BERHAD) ("TWL" OR THE "COMPANY")

(I)	PROPOSED ISSUANCE; AND
(II)	PROPOSED PRIVATE PLACEMENT

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

(For consistency, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcement dated 27 January 2022 in relation to the Proposals, unless stated otherwise or defined herein.)

 

Reference is made to the earlier announcements in relation to the Proposals dated 10 January 2022, 27 January 2022 and 4 February 2022.

 

On behalf of the Board, Mercury Securities is pleased to announce that Bursa Securities had, vide its letter dated 18 February 2022 (which was received after business hours at the end of that day), approved the listing and quotation of:-

 

(i)         up to 555,555,556 Consideration Shares to be issued pursuant to the Proposed Issuance as part of the Purchase Consideration for the Acquisition; and

 

(ii)         up to 771,036,000 Placement Shares to be issued pursuant to the Proposed Private Placement.

 

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

 

(i)         Confirmation by Mercury Securities on the compliance of at least 25% of the public shareholding spread requirements pursuant to Paragraph 8.02(1) of the Listing Requirements upon the listing and quotation of the Consideration Shares;

 

(ii)         TWL and Mercury Securities must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposals;

 

(iii)        TWL / Mercury Securities to furnish Bursa Securities with the certified true copy of the resolutions passed by the Shareholders at extraordinary general meeting approving the Proposals;

 

(iv)        TWL and Mercury Securities to inform Bursa Securities upon the completion of the Proposals;

 

(v)        TWL and Mercury Securities 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; and

 

(vi)        To incorporate Bursa Securities’ comments in respect of draft circular to Shareholders.

 

 

This announcement is dated 21 February 2022.






Announcement Info

Company Name TWL HOLDINGS BERHAD
Stock Name TWL
Date Announced 21 Feb 2022
Category General Announcement for PLC
Reference Number GA1-21022022-00041