SCBUILD

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MULTIPLE PROPOSALS SC ESTATE BUILDER BERHAD ("SCBUILD/0109" OR "COMPANY") (I) PROPOSED RIGHTS ISSUE; AND (II) PROPOSED LTIP (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

SC ESTATE BUILDER BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
SC ESTATE BUILDER BERHAD ("SCBUILD/0109" OR "COMPANY")

(I)	PROPOSED RIGHTS ISSUE; AND
(II)	PROPOSED LTIP

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

Unless otherwise defined in this announcement, all abbreviations used in this announcement are defined in the announcement dated 8 June 2023.

 

On behalf of the Board of Directors of SCBUILD/0109, M&A Securities is pleased to announce that Bursa Securities had, vide its letter dated 11 October 2023, resolved to approve the following:

 

1. Listing and quotation of up to 2,148,181,818 Rights Shares to be issued pursuant to the Proposed Rights Issue; and

 

2. Listing and quotation of up to such number of new SCBUILD/0109 Shares representing up to 30% of the total number of issued shares of SCBUILD/0109 (excluding treasury shares), to be issued pursuant to the Proposed LTIP.

 

The approval granted by Bursa Securities for the Proposed Rights Issue is subject to the following conditions:

 

1. SCBUILD/0109 and M&A Securities must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Rights Issue.

 

2. SCBUILD/0109 and M&A Securities to inform Bursa Securities upon the completion of the Proposed Rights Issue.

 

3. SCBUILD/0109 to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposed Rights Issue is completed.

 

4. SCBUILD/0109 to furnish Bursa Securities with a certified true copy of the resolution passed by the shareholders at the extraordinary general meeting approving the Proposed Rights Issue.

 

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

 

1. M&A Securities is required to submit a confirmation to Bursa Securities of full compliance of the Proposed LTIP pursuant to Rule 6.44(1) of the Listing Requirements and stating the effective date of implementation;

 

2. M&A Securities is required to submit a certified true copy of the resolution passed by the shareholders in general meeting approving the Proposed LTIP; and

 

3. SCBUILD/0109 is required to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed, pursuant to the Proposed LTIP as at the end of each quarter together with a detailed computation of listing fees payable.

 

This announcement is dated 11 October 2023.

 






Announcement Info

Company Name SC ESTATE BUILDER BERHAD
Stock Name SCBUILD
Date Announced 11 Oct 2023
Category General Announcement for PLC
Reference Number GA1-11102023-00056