DGB

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-0.005 (-4.5%)

MULTIPLE PROPOSALS DGB ASIA BERHAD ("DGB" OR THE "COMPANY") (I) PROPOSED SHARE CONSOLIDATION; AND (II) PROPOSED PRIVATE PLACEMENT; (COLLECTIVELY, THE "PROPOSALS")

DGB ASIA BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
DGB ASIA BERHAD ("DGB" OR THE "COMPANY")

(I)	PROPOSED SHARE CONSOLIDATION; AND
(II)	PROPOSED PRIVATE PLACEMENT; 

(COLLECTIVELY, THE "PROPOSALS")
(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 26 June 2023 in relation to the Proposals, where applicable, unless stated otherwise or defined herein.)

Reference is made to the earlier announcements dated 26 June 2023 and 27 June 2023 in relation to the Proposals.

On behalf of the Board, TA Securities wishes to announce that Bursa Securities had, vide its letter dated 18 July 2023, resolved to approve the following:

(i)          The Proposed Share Consolidation;

(ii)         Listing and quotation of up to 236,062,166 Consolidated Shares (assuming all of the outstanding Warrants C are exercised into new DGB Shares prior to the implementation of the Proposed Share Consolidation);

(iii)        Listing and quotation of up to 47,818,858 consolidated Warrants C (assuming none of the 478,188,586 outstanding Warrants C are exercised prior to the implementation of the Proposed Share Consolidation); and

(iv)        Listing and quotation of up to 66,000,000 Placement Shares to be issued pursuant to the Proposed Private Placement.

The approval granted by Bursa Securities for the Proposed Private Placement is subject to the following conditions:

1.         DGB and TA Securities must fully comply with the relevant provisions under the ACE Market Listing Requirements (“ACE LR”) pertaining to the implementation of the Proposed Private Placement.

2.         DGB and TA Securities to inform Bursa Securities upon the completion of the Proposed Private Placement.

3.         DGB to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposed Private Placement is completed.

4.         DGB to furnish Bursa Securities with a certified true copy of the resolutions passed by the shareholders in a general meeting approving the Proposed Private Placement and Proposed Share Consolidation.

5.         TA Securities to furnish Bursa Securities with details of the proposed placee(s) as per Rule 6.16 of the ACE LR for Bursa Securities’ clearance, prior to the issuance/ allotment of the Placement Shares.

6.         DGB to provide quarterly updates via Bursa LINK (simultaneously with the submission of Quarterly Report and in the form of General Announcement for PLC) on the following:

           (a)   The status of each of the event, project or purpose for which the total proceeds raised from the Proposed Private Placement are utilised for, including but not limited to, the percentages of completion of the projects/initiatives;

           (b)   The status of each of the event, project or purpose for which the total proceeds raised from the Company's 2021 Rights Issue with Warrants C and 2021 Private Placement (as defined in the draft circular) are utilised for, including but not limited to, the percentages of completion of the projects/initiatives;

           (c)   Where relevant, details on where the balance of proceeds raised is being placed (pending utilisation). If it is parked with asset management company/fund manager, to disclose the name of the asset management company/fund manager; and

           (d)   The summary of Placement Shares issued and allotted as follows:

                 (1)   Date of price fixing and date of issuance of Placement Shares (each tranche);
                 (2)   Quantity of Placement Shares issued and allotted;
                 (3)   Issue price and basis of arriving at the issue price (each tranche); and
                 (4)   Aggregate number of Placement Shares issued and allotted as at the end of each quarter.

7.         In relation to the circular to shareholders on the Proposed Share Consolidation and Proposed Private Placement, DGB is required to incorporate Bursa Securities’ comments made on the circular to shareholders.

This announcement is dated 18 July 2023.





Announcement Info

Company Name DGB ASIA BERHAD
Stock Name DGB
Date Announced 18 Jul 2023
Category General Announcement for PLC
Reference Number GA1-18072023-00025