LKL

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MULTIPLE PROPOSALS LKL INTERNATIONAL BERHAD ("LKL" OR THE "COMPANY") (I) PROPOSED SHARE CONSOLIDATION; (II) PROPOSED DIVERSIFICATION; (III) PROPOSED RIGHTS ISSUE WITH WARRANTS; AND (IV) PROPOSED SIS (COLLECTIVELY, THE "PROPOSALS")

LKL INTERNATIONAL BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
LKL INTERNATIONAL BERHAD ("LKL" OR THE "COMPANY")

(I)	PROPOSED SHARE CONSOLIDATION;
(II)	PROPOSED DIVERSIFICATION;
(III)	PROPOSED RIGHTS ISSUE WITH WARRANTS; AND
(IV)	PROPOSED SIS

(COLLECTIVELY, THE "PROPOSALS")

On behalf of the Board of Directors of LKL (“Board”), TA Securities Holdings Berhad (“TA Securities”) wishes to announce that the Company proposes to undertake the following:

 

(i)         proposed consolidation of every 10 ordinary shares in LKL (“LKL Shares” or “Shares”) into 1 LKL Share (“Consolidated Share”) (“Proposed Share Consolidation”);

 

(ii)         proposed diversification of the principal activities of LKL and its subsidiaries (“LKL Group”) to include the operation of pharmacies including retailing of pharmaceutical, healthcare and personal care products (“Proposed Diversification”);

 

(iii)        proposed renounceable rights issue of up to 291,480,180 LKL Shares (“Rights Shares”) together with up to 194,320,120 free detachable warrants in LKL (“Warrants”) on the basis of 3 Rights Shares together with 2 free Warrants for every 1 Consolidated Share held by the entitled shareholders of LKL on an entitlement date to be determined (“Proposed Rights Issue with Warrants”); and

 

(iv)        proposed establishment of a share issuance scheme of up to 30% of the total number of issued Shares of LKL (excluding treasury shares, if any) to the eligible directors and eligible employees of LKL Group (“Proposed SIS”),

 

(collectively the “Proposals”).

 

Further details of the Proposals are set out in the attachment below.

 

This announcement is dated 17 June 2022.




Please refer attachment below.



Announcement Info

Company Name LKL INTERNATIONAL BERHAD
Stock Name LKL
Date Announced 17 Jun 2022
Category General Announcement for PLC
Reference Number GA1-17062022-00026