M&A

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MULTIPLE PROPOSALS M & A EQUITY HOLDINGS BERHAD (FORMERLY KNOWN AS SYF RESOURCES BERHAD) ("MAEH" OR "COMPANY") (I) DISPOSALS; (II) SPECIAL DIVIDEND AND/OR CAPITAL REPAYMENT; (III) ACQUISITION; (IV) RIGHTS ISSUE; (V)RESTRICTED ISSUE; (VI) EXEMPTION; AND (VII) CHANGE OF NAME (COLLECTIVELY, THE "PROPOSALS")

M & A EQUITY HOLDINGS BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
M & A EQUITY HOLDINGS BERHAD (FORMERLY KNOWN AS SYF RESOURCES BERHAD) ("MAEH" OR "COMPANY")

(I) DISPOSALS;
(II) SPECIAL DIVIDEND AND/OR CAPITAL REPAYMENT;
(III) ACQUISITION;
(IV) RIGHTS ISSUE;
(V)RESTRICTED ISSUE;
(VI) EXEMPTION; AND
(VII) CHANGE OF NAME

(COLLECTIVELY, THE "PROPOSALS")

 

We refer to the Company’s announcement dated 15 December 2022 in relation to the receipt of approval from the Securities Commission Malaysia (“SC”) in respect of the Proposals. Among others, the conditions imposed by the SC in relation to MAEH’s compliance to the Bumiputera equity requirements for public listed companies (“Bumiputera Equity Condition”) as set out in items 1.2(ii) and (iii) of the approval letter, are as set out below: -

 

(i) MAEH to allocate 12.5% of its enlarged number of issued shares to Bumiputera investors to be approved or recognised by the Ministry of Investment, Trade and Industry (“MITI”) within one (1) year after registering after-tax-profit or three (3) years after the implementation of the Proposals, whichever is the earlier (“Trigger Date”); and

 

(ii) MAEH to submit to the SC on its proposal to comply with the equity condition stated in item (i) above within six (6) months from the Trigger Date.

 

On behalf of the Board of Directors of MAEH (“Board”), Malacca Securities Sdn Bhd (“Malacca Securities”) wishes to announce that the SC had, vide its letter dated 7 May 2024 (“Letter”) (which was received on 15 May 2024), approved the proposals by MAEH to comply with the Bumiputera Equity Condition.

 

Further details of the proposals will be announced in due course.

 

Malacca Securities is required to update the SC on the progress of the above proposals on a quarterly basis.

 

This announcement is dated 15 May 2024.






Announcement Info

Company Name M & A EQUITY HOLDINGS BERHAD
Stock Name M&A
Date Announced 15 May 2024
Category General Announcement for PLC
Reference Number GA1-15052024-00078