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SIGGAS

0.960

+0.005 (+0.5%)

MULTIPLE PROPOSALS SIG GASES BERHAD ("SIGGAS" OR "COMPANY") (I) PROPOSED DISPOSAL; AND (II) PROPOSED DISTRIBUTION (COLLECTIVELY REFERRED TO AS "PROPOSALS")

SIG GASES BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
SIG GASES BERHAD ("SIGGAS" OR "COMPANY")

(I)	PROPOSED DISPOSAL; AND

(II)	PROPOSED DISTRIBUTION

(COLLECTIVELY REFERRED TO AS "PROPOSALS")

We refer to the Company’s announcements dated 25 March 2019 and 28 March 2019 in relation to the Proposed Disposal (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

 

On behalf of the Board, Kenanga IB wishes to announce that the Company has on today, entered into a conditional sale and purchase agreement (“SPA”) with ALM for the proposed disposal of its 100% equity interest in Southern Industrial Gas Sdn Bhd (“SIGSB”) which in turn holds 40% equity interest in Iwatani-SIG Industrial Gases Sdn Bhd (“Proposed Disposal”).

 

Subsequent to the completion of the Proposed Disposal, the Board proposes to distribute part of the proceeds to be received arising from the Proposed Disposal to all entitled shareholders of SIGGAS, by way of:

 

(i) proposed capital reduction and repayment exercise under Section 117 of the Companies Act 2016 (“Proposed Capital Reduction and Repayment”); and

 

(ii) proposed special dividend (“Proposed Special Dividend”).

 

(Proposed Capital Reduction and Repayment as well as Proposed Special Dividend are collectively referred as “Proposed Distribution”.)

 

Please refer to the attachment for further details.

 

This announcement is dated 14 June 2019.




Please refer attachment below.



Announcement Info

Company Name SIG GASES BERHAD
Stock Name SIGGAS
Date Announced 14 Jun 2019
Category General Announcement for PLC
Reference Number GA1-14062019-00050