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Lim Seong Hai Capital Berhad ("the Company")
- Notice of Extraordinary General Meeting
Date of Meeting
28 Mar 2023
Time
10:00 AM
Venue(s)
Level 7, Wisma Lim Seong Hai
33 Jalan Gombak
53000 Kuala Lumpur
W.P. Kuala Lumpur
Malaysia
Date of General Meeting Record of Depositors
21 Mar 2023
Resolutions
1. Ordinary Resolution 1
Description
PROPOSED ACQUISITION BY THE COMPANY OF 3,750,000 ORDINARY SHARES IN ASTANA SETIA SDN BHD ("ASSB"), REPRESENTING 100% EQUITY INTEREST IN ASSB FROM LIM SEONG HAI RESOURCES SDN BHD, DATUK LIM KENG GUAN, LIM PAK LIAN, LIM KENG HUN AND LIM DING SHYONG (COLLECTIVELY REFERRED TO AS THE "VENDORS OF ASSB") FOR A PURCHASE CONSIDERATION OF RM95,000,000 ("PURCHASE CONSIDERATION OF ASSB") TO BE SATISFIED THROUGH THE ISSUANCE OF 211,111,111 NEW ORDINARY SHARES IN LSH CAPITAL ("LSH CAPITAL SHARES") ("CONSIDERATION SHARES OF ASSB") AT AN ISSUE PRICE OF RM0.45 PER LSH CAPITAL SHARE ("PROPOSED ACQUISITION OF ASSB")
Shareholder’s Action
For Voting
2. Ordinary Resolution 2
Description
PROPOSED ACQUISITION BY THE COMPANY OF 100,000 ORDINARY SHARES IN LIM SEONG HAI VENTURES SDN BHD ("LSH VENTURES"), REPRESENTING 100% EQUITY INTEREST IN LSH VENTURES FROM LIM PAK LIAN, LIM KENG HUN AND LIM DING SHYONG (COLLECTIVELY REFERRED TO AS THE "VENDORS OF LSH VENTURES") FOR A PURCHASE CONSIDERATION OF RM25,699,067 ("PURCHASE CONSIDERATION OF LSH VENTURES") TO BE SATISFIED THROUGH THE ISSUANCE OF 57,109,037 LSH CAPITAL SHARES ("CONSIDERATION SHARES OF LSH VENTURES") AT AN ISSUE PRICE OF RM0.45 PER CONSIDERATION SHARE OF LSH VENTURES ("PROPOSED ACQUISITION OF LSH VENTURES")
Shareholder’s Action
For Voting
3. Ordinary Resolution 3
Description
PROPOSED DEBT SETTLEMENT BY THE COMPANY OF THE AMOUNT OWING BY LSH VENTURES TO LIM PAK LIAN, LIM KENG HUN, LIM DING SHYONG AND DATUK LIM KENG GUAN (COLLECTIVELY REFERRED TO AS THE "DIRECTORS OF LSH VENTURES") AMOUNTING TO RM36,942,645 ("DIRECTORS ADVANCES") TO BE SATISFIED THROUGH THE ISSUANCE OF 82,094,767 NEW LSH CAPITAL SHARES ("SETTLEMENT SHARES") AT AN ISSUE PRICE OF RM0.45 PER SETTLEMENT SHARE ("PROPOSED DEBT SETTLEMENT")
Shareholder’s Action
For Voting
4. Ordinary Resolution 4
Description
PROPOSED DIVERSIFICATION OF THE EXISTING PRINCIPAL ACTIVITIES OF LSH CAPITAL AND ITS SUBSIDIARIES ("LSH CAPITAL GROUP" OR THE "GROUP") TO INCLUDE PROPERTY DEVELOPMENT ACTIVITIES ("PROPERTY DEVELOPMENT BUSINESS") ("PROPOSED DIVERSIFICATION (PROPERTY DEVELOPMENT)")