SAUDEE

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MULTIPLE PROPOSALS SAUDEE GROUP BERHAD ("SAUDEE" OR THE "COMPANY") (I) PROPOSED PRIVATE PLACEMENT; AND (II) PROPOSED SIS (COLLECTIVELY, THE "PROPOSALS")

SAUDEE GROUP BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
SAUDEE GROUP BERHAD ("SAUDEE" OR THE "COMPANY")

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

(COLLECTIVELY, THE "PROPOSALS")

 

(For consistency, the abbreviations used throughout this announcement shall have the same meanings as those defined in the announcement dated 17 August 2022, where applicable, unless stated otherwise or defined herein.)

 

Reference is made to the earlier announcement dated 17 August 2022.

 

On behalf of the Board, TA Securities is pleased to announce that Bursa Securities had, vide its letter dated 27 September 2022, approved the following:

 

(i)         listing and quotation of up to 347,000,000 new Saudee Shares to be issued pursuant to the Proposed Private Placement; and

 

(ii)         listing and quotation of such number of additional Saudee Shares, representing up to 15% of the total number of issued Saudee Shares to be issued pursuant to the Proposed SIS.

 

The approval by Bursa Securities for the above is subject to, amongst others, the following conditions:

 

(i)         Saudee and TA Securities must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposals;

 

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

 

(iii)        Saudee and TA Securities are required to inform Bursa Securities upon completion of the Proposals;

 

(iv)        Saudee 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)        TA Securities is required to furnish Bursa Securities with details of the placees as per Paragraph 6.15 of the Listing Requirements for its review, prior to the issuance / allotment of the Placement Shares;

 

(vi)        TA Securities is required to furnish Bursa Securities with details of the placees in accordance with Paragraph 6.15 of the Listing Requirements as soon as practicable after each tranche of placement and before the listing of the new shares to be issued pursuant to the Proposed Private Placement; and

 

(vii)       Saudee is required to submit a confirmation to Bursa Securities of full compliance of the Proposed SIS pursuant to Paragraph 6.43(1) of the Listing Requirements and stating the effective date of implementation.

 

This announcement is dated 27 September 2022.






Announcement Info

Company Name SAUDEE GROUP BERHAD
Stock Name SAUDEE
Date Announced 27 Sep 2022
Category General Announcement for PLC
Reference Number GA1-27092022-00037