MULTIPLE PROPOSALS (I) PROPOSED RIGHTS ISSUE WITH WARRANTS; (II) PROPOSED ESOS; (III) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL; AND (IV) PROPOSED M&A AMENDMENTS (COLLECTIVELY REFERRED TO AS THE PROPOSALS)

M3 TECHNOLOGIES (ASIA) BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
(I)	PROPOSED RIGHTS ISSUE WITH WARRANTS;
(II)	PROPOSED ESOS;
(III)	PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL; AND
(IV)	PROPOSED M&A AMENDMENTS 

(COLLECTIVELY REFERRED TO AS THE PROPOSALS)

Unless otherwise stated, all definitions and terms used in this announcement shall have the same meanings as defined in the previous announcements.

On behalf of the Board of Directors of M3Tech, Public Investment Bank Berhad (“PIVB”) wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had vide its letter dated 17 September 2015, approved the following:  

(i)    admission to the Official List of Bursa Securities and the listing of and quotation for up to 296,364,321 Warrants to be issued pursuant to the Proposed Rights Issue With Warrants;

(ii)    listing of up to 395,152,428 Rights Shares to be issued pursuant to the Proposed Rights Issue with Warrants;

(iii)    listing of up to 296,364,321 new M3Tech Shares to be issued arising from the full exercise of the Warrants; and

(iv)    listing of such number of new M3Tech Shares representing up to thirty percent (30%) of the prevailing issued and paid-up share capital of M3Tech during the duration of the ESOS (excluding treasury shares, if any) to be issued and allotted pursuant to the Proposed ESOS.

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

(i)    M3Tech and PIVB must fully comply with the relevant provisions under the ACE Market Listing Requirements of Bursa Securities (“ACE LR”) pertaining to the implementation of the Proposed Rights Issue with Warrants;

(ii)    M3Tech and PIVB to inform Bursa Securities upon the completion of the Proposed Rights Issue with Warrants; 

(iii)    M3Tech 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 with Warrants is completed; and

(iv)    M3Tech is required to furnish Bursa Securities on a quarterly basis, a summary of the total number of shares listed (pursuant to the exercise of the Warrants) as at the end of each quarter together with a detailed computation of listing fees payable. 

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

(i)    PIVB is required to submit a confirmation to Bursa Securities of full compliance of the ESOS pursuant to Rule 6.44 of the ACE LR and stating the effective date of implementation together with a certified true copy of the resolution passed by the shareholders in general meeting; and

(ii)    M3Tech is required to furnish Bursa Securities on a quarterly basis a summary of the total number of ESOS shares listed as at the end of each quarter together with a detailed computation of listing fees payable. 

This announcement is dated 17 September 2015.






Announcement Info

Company Name M3 TECHNOLOGIES (ASIA) BERHAD
Stock Name M3TECH
Date Announced 17 Sep 2015
Category General Announcement for PLC
Reference Number GA1-17092015-00047