SYSTECH

0.465

+0.01 (+2.2%)

GENERAL MEETINGS: Notice of Meeting

SYSTECH BHD

Type of Meeting Extraordinary
Indicator Notice of Meeting
Description
NOTICE OF EXTRAORDINARY GENERAL MEETING OF SYSTECH BHD ("SYSTECH" OR THE "COMPANY")
- PROPOSED SHARES ISSUANCE;
- PROPOSED ACQUISITION;
- PROPOSED BONUS ISSUE OF WARRANTS; AND
- PROPOSED ESS
Date of Meeting 18 Apr 2024
Time 10:00 AM

Venue(s)
Fully virtual basis via online meeting platform:

https://meeting.boardroomlimited.my

(Domain Registration No. with MYNIC - D6A357657)

Malaysia

Date of General Meeting Record of Depositors 09 Apr 2024

Resolutions


1. ORDINARY RESOLUTION 1

Description
PROPOSED SHARES ISSUANCE OF UP TO 144,000,000 ORDINARY SHARES IN SYSTECH ("SYSTECH SHARES" OR "SHARES") ("SUBSCRIPTION SHARES"), REPRESENTING APPROXIMATELY 29.4% OF THE ENLARGED TOTAL NUMBER OF ISSUED SHARES (EXCLUDING TREASURY SHARES) AFTER THE SHARES ISSUANCE ("PROPOSED SHARES ISSUANCE")
Shareholder’s Action For Voting

2. ORDINARY RESOLUTION 2

Description
PROPOSED ALLOTMENT OF 72,222,600 SUBSCRIPTION SHARES TO HOOI JIA HAO ("HJH"), A PERSON CONNECTED TO SMARTPRO CAPITAL SDN. BHD. ("SCSB"), THE MAJOR SHAREHOLDER OF SYSTECH, PURSUANT TO THE PROPOSED SHARES ISSUANCE ("PROPOSED ALLOCATION TO HJH")
Shareholder’s Action For Voting

3. ORDINARY RESOLUTION 3

Description
PROPOSED ACQUISITION OF 552,255 ORDINARY SHARES IN WILSTECH SDN. BHD. ("WILSTECH"), REPRESENTING THE ENTIRE EQUITY INTEREST OF WILSTECH, FOR A TOTAL PURCHASE CONISIDERATION OF RM75,000,000, TO BE SATISFIED VIA CASH CONSIDERATION OF RM20,000,000 AND THE REMAINING RM55,000,000 TO BE SETTLED VIA THE ISSUANCE OF 152,777,777 SYSTECH SHARES ("CONSIDERATION SHARES") AT AN ISSUE PRICE OF RM0.36 PER CONSIDERATION SHARE ("PROPOSED ACQUISITION")
Shareholder’s Action For Voting

4. ORDINARY RESOLUTION 4

Description
PROPOSED BONUS ISSUE OF UP TO 160,656,399 NEW WARRANTS IN SYSTECH ("WARRANTS") ON THE BASIS OF 1 WARRANT FOR EVERY 4 EXISTING SYSTECH SHARES HELD BY THE ENTITLED SHAREHOLDERS ON AN ENTITLEMENT DATE TO BE DETERMINED AND ANNOUNCED LATER ("PROPOSED BONUS ISSUE OF WARRANTS")
Shareholder’s Action For Voting

5. ORDINARY RESOLUTION 5

Description
PROPOSED ESTABLISHMENT OF AN EMPLOYEES SHARE SCHEME OF UP TO 15.0% OF THE TOTAL NUMBER OF ISSUED SHARES (EXCLUDING TREASURY SHARES) ("SCHEME") AT ANY POINT IN TIME DURING THE TENURE OF THE SCHEME FOR ELIGIBLE DIRECTORS AND EMPLOYEES OF SYSTECH AND ITS SUBSIDIARIES ("SYSTECH GROUP") (EXCLUDING DORMANT SUBSIDIARIES) ("PROPOSED ESS")
Shareholder’s Action For Voting

6. ORDINARY RESOLUTION 6

Description
PROPOSED ALLOCATION OF AWARDS TO LEE CHOON TENG PURSUANT TO THE PROPOSED ESS ("PROPOSED ALLOCATION OF AWARDS TO LEE CHOON TENG")
Shareholder’s Action For Voting

7. ORDINARY RESOLUTION 7

Description
PROPOSED ALLOCATION OF AWARDS TO TEOH KENG CHANG PURSUANT TO THE PROPOSED ESS ("PROPOSED ALLOCATION OF AWARDS TO TEOH KENG CHANG")
Shareholder’s Action For Voting

8. ORDINARY RESOLUTION 8

Description
PROPOSED ALLOCATION OF AWARDS TO CHAN SOON TAT PURSUANT TO THE PROPOSED ESS ("PROPOSED ALLOCATION OF AWARDS TO CHAN SOON TAT")
Shareholder’s Action For Voting

9. ORDINARY RESOLUTION 9

Description
PROPOSED ALLOCATION OF AWARDS TO HONG BOON TOH PURSUANT TO THE PROPOSED ESS ("PROPOSED ALLOCATION OF AWARDS TO HONG BOON TOH")
Shareholder’s Action For Voting

10. ORDINARY RESOLUTION 10

Description
PROPOSED ALLOCATION OF AWARDS TO FONG SHENG NIE PURSUANT TO THE PROPOSED ESS ("PROPOSED ALLOCATION OF AWARDS TO FONG SHENG NIE")
Shareholder’s Action For Voting

11. ORDINARY RESOLUTION 11

Description
PROPOSED ALLOCATION OF AWARDS TO OOI GIN HUI PURSUANT TO THE PROPOSED ESS ("PROPOSED ALLOCATION OF AWARDS TO OOI GIN HUI")
Shareholder’s Action For Voting

12. ORDINARY RESOLUTION 12

Description
PROPOSED ALLOCATION OF AWARDS TO LOW MIN YEW, A PERSON CONNECTED TO SCSB, THE MAJOR SHAREHOLDER OF SYSTECH, PURSUANT TO THE PROPOSED ESS ("PROPOSED ALLOCATION OF AWARDS TO LMY")
Shareholder’s Action For Voting



Please refer attachment below.




Announcement Info

Company Name SYSTECH BHD
Stock Name SYSTECH
Date Announced 02 Apr 2024
Category General Meeting
Reference Number GMA-02042024-00002
Corporate Action ID MY240402MEET0002