CATCHA

0.190

+0.015 (+8.6%)

PRACTICE NOTE 16 / GUIDANCE NOTE 2 : MONTHLY ANNOUNCEMENT

CATCHA DIGITAL BERHAD

Type Announcement
Subject PRACTICE NOTE 16 / GUIDANCE NOTE 2
MONTHLY ANNOUNCEMENT
Description
CATCHA DIGITAL BERHAD ("CATCHA" OR "THE COMPANY")

MONTHLY ANNOUNCEMENT PURSUANT TO GUIDANCE NOTE 2 OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD

We refer to the Company’s announcements on 3 August 2017, 11 October 2017, 31 October 2017, 2 November 2017, 27 November 2017, 26 February 2018, 30 May 2018, 30 August 2018, 29 November 2018, 27 February 2019, 29 May 2019, 27 August 2019, 27 November 2019, 25 February 2020, 28 May 2020, 27 August 2020, 26 November 2020, 23 February 2021, 27 May 2021, 24 August 2021, 23 November 2021, 22 February 2022 and 26 May 2022 in relation to the monthly announcement pursuant to Practice Note 16/Guidance Note 2.

 

On 8 November 2019, TA Securities, had, on behalf of the Company, announced the proposed regularisation plan of the Company comprising the acquisition of Orissa Wicomm Sdn Bhd, proposed special issue of ICULS with Warrants A, proposed rights issue with Warrants B and proposed exemption. Please refer to the Company's announcement dated 8 November 2019 for further details.


On 30 December 2019, TA Securities announced that the application for the Proposed Regularisation Plan together with a listing application for new securities to be issued pursuant to the same has been submitted to Bursa Securities.

 

On 9 January 2020, TA Securities announced that the Company and the Vendors had vide a letter dated 7 January 2020, mutually agreed to extend the Condition Period for a period of sixty (60) days up to 7 March 2020 to fulfill the Conditions Precedent (“Extended Condition Period”) pursuant to the Share Sale Agreement.

 

On 9 March 2020, TA Securities announced that the Company and the Vendors had vide a letter dated 7 March 2020, mutually agreed to extend the Condition Period for a period of sixty (60) days up to 6 May 2020 to fulfill the Conditions Precedent (“Extended Condition Period”) pursuant to the SSA.

 

On 6 May 2020, TA Securities announced that the Company has vide a letter dated 6 May 2020 notified the Vendors that the Company proposes not to further extend the Extended Condition Period.

 

Accordingly, the SSA will be terminated with effect from 6 May 2020 in accordance with Clause 3.1.6 of the SSA, which provides that in the event any of the Conditions Precedent is not satisfied by the expiration of the Extended Condition Period or not waived by Rev Asia, the SSA will terminate and thereafter be of no effect except for the survival provisions, which shall remain in force and none of the parties shall have any claim against the others under the SSA, save for any claims arising from any antecedent breach.

 

In view of the termination of the SSA, the Shareholders’ Agreement will also be rescinded.

 

On 8 May 2020, TA Securities announced that following the termination of the SSA and Shareholders’ Agreement in relation to the Proposed Acquisition on 6 May 2020, the other proposals under the Proposed Regularisation Plan were also terminated in view of the inter-conditionality of the proposals.


As such, the Company had on 8 May 2020, submitted a request to Bursa Securities to withdraw its application dated 27 December 2019 in relation to the Proposed Regularisation Plan.

 

On 5 June 2020, TA Securities announced that Bursa Securities has vide its letter dated 5 June 2020, granted the Company an extension of time up to 8 August 2020 to submit a regularisation plan to Bursa Securities.

 

On 7 August 2020, TA Securities announced that the Company had submitted an application to Bursa Securities for a further extension of time from 8 August 2020 to 8 December 2020 to submit a regularisation plan to Bursa Securities (“Application”). The Application is subject to the approval of Bursa Securities.

 

On 3 September 2020, TA Securities announced that Bursa Securities has granted the Company an extension of time up to 8 December 2020 to submit a regularisation plan to Bursa Securities.


On 20 November 2020, TA Securities announced that the Company had submitted an application to Bursa Securities for a further extension of time from 8 December 2020 to 8 January 2021 to submit a regularisation plan to Bursa Securities (“Application”). The Application is subject to the approval of Bursa Securities.


On 23 December 2020, TA Securities announced that Bursa Securities has granted the Company an extension of time up to 22 January 2021 to submit a regularisation plan to Bursa Securities.

 

On 22 January 2021, TA Securities announced that the application for the Proposed Regularisation Plan together with the listing application for new securities to be issued pursuant to the same has been resubmitted to Bursa Securities.

 

On 18 March 2021, TA Securities announced that the Company and the Vendors had on 18 March 2021 mutually agreed to extend the Conditional Period for a period not later than 31 May 2021 to fulfill the Conditions Precedent (“Extended Conditional Period”) pursuant to the SSA.

 

On 31 May 2021, TA Securities announced that the Company and the Vendors had on 31 May 2021 mutually agreed to extend the Conditional Period for a period not later than 31 August 2021 to fulfill the Conditions Precedent (“Further Extended Conditional Period”) pursuant to the SSA.

 

On 13 August 2021, TA Securities announced that Bursa Securities had vide its letter dated 12 August 2021 decided to reject the Proposed Regularisation Plan as its Sponsor has not demonstrated to the satisfaction of Bursa Securities the ability of the Proposed Regularisation Plan to comply with Chapter 3 and Guidance Note 18 of the ACE Market Listing Requirements (“Bursa Securities Decision”).


On 1 September 2021, TA Securities announced that the Company and the Vendors had, on 30 August 2021, mutually agreed to extend the Conditional Period to a period not later than 30 November 2021 to fulfill the Conditions Precedent pursuant to the SSA.

 

On 10 September 2021, the Board of Directors of Catcha announced that Catcha has appointed Malacca Securities Sdn Bhd ("Malacca Securities") as the Company’s Co-Adviser to be jointly undertaken with TA Securities in relation to the appeal in respect of the decision by Bursa Securities on the Proposed Regularisation Plan and to act jointly for and on behalf of the Company to liaise with Bursa Securities on all matters pertaining thereto. On even date, TA Securities and Malacca Securities announced that an appeal in relation to the decision by Bursa Securities on the Proposed Regularisation Plan has been submitted to Bursa Securities.


On 12 November 2021, TA Securities announced that the Company and the Vendors entered into the third amended and restated share sale agreement to amend andvary certain terms of the SSA.


On 29 November 2021, TA Securities announced that the Company and the Vendors mutually agreed to extend the Conditional Period to a period not later than 31 March 2022 to fulfill the Conditions Precedent pursuant to the SSA.

 

Subsequent to the lodgement of appeal on 10 September 2021, the Company has received queries and has had numerous discussions with Bursa Securities on the said queries. In the last verbal conversation with Bursa Securities on 16 February 2022, the processing of the appeal is currently on-going and the Board is of the view that the processing is expected to be finalised soon.


On 25 February 2022, TA Securities and Malacca Securities announced that the Board has decided to further vary the Proposed Rights Issue as announced on 10 September 2021 (“Initial Proposed Rights Issue”) to a proposed renounceable rights issue of up to 174,640,020 Shares (“Rights Share(s)”), on the basis of one (1) Rights Share for every one (1) existing Share held by the Entitled Shareholders on the Entitlement Date to be determined later (“Proposed Rights Issue”) (“2nd Revision”).


On 30 March 2022, TA Securities announced that the Company and the Vendors had mutually agreed to extend the Conditional Period to a period not later than 30 June 2022 to fulfil the Conditions Precedent pursuant to the SSA.

 

On 5 April 2022, TA Securities announced that Bursa Securities has approved the revised Proposed Regularisation Plan.

 

On 13 May 2022, the Board of Directors of Catcha announced that Catcha has appointed Malacca Securities as the Company’s Co-Adviser with TA Securities in relation to the Proposed Regularisation Plan.

 

On 24 May 2022, TA Securities and Malacca Securities announced that the Company and the Vendors entered into the fourth amended and restated share sale agreement to amend and vary certain terms of the SSA.

 

On 27 June 2022, TA Securities and Malacca Securities announced that the Company and the Vendors had mutually agreed to extend the Conditional Period to a period not later than 31 August 2022 to fulfill the Conditions Precedent pursuant to the SSA.

 

This Announcement is dated 25 August 2022.






Announcement Info

Company Name CATCHA DIGITAL BERHAD
Stock Name CATCHA
Date Announced 25 Aug 2022
Category General Announcement for PLC
Reference Number GA1-25082022-00021