PROPOSED SHORT TERM INVESTMENT BY M3 TECHNOLOGIES PAKISTAN (PRIVATE) LIMTED (PROPOSED INVESTMENT)

M3 TECHNOLOGIES (ASIA) BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-17042019-00001
Subject PROPOSED SHORT TERM INVESTMENT BY M3 TECHNOLOGIES PAKISTAN (PRIVATE) LIMTED (PROPOSED INVESTMENT)
Description
M3 TECHNOLOGIES (ASIA) BERHAD ("M3TECH" OR "THE COMPANY") 

PROPOSED SHORT TERM INVESTMENT BY M3 TECHNOLOGIES PAKISTAN (PRIVATE) LIMITED (PROPOSED INVESTMENT)
Query Letter Contents

We refer to your Company’s announcement dated 16 April 2019 in respect of the aforesaid matter.
 

In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

  1. The particulars of assets/investment that the Investment Amount will be invested in.
  2. The names of substantial shareholders of Aqeel Karim Dhedhi Securities (Private) Limited together with their respective shareholdings.
  3. The highest percentage ratio applicable to the Proposed Investment pursuant to Rule10.02(g) of the ACE Market Listing Requirements.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully

 

TAN YEW ENG
Vice President, Issuers
Listing, Regulation

 

TYE/NMA

 

Cc : Market Surveillance Dept., Securities Commission (via fax)

(For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcement made on 16 April 2019.)

We refer to Bursa Malaysia Securities Berhad (“Bursa Securities”) query letter dated 17 April 2019 on the above matter and hereby furnish the additional information as requested:-

1. The particulars of assets/investment that the Investment Amount will be invested in.

Aqeel Karim Dhedhi Securities (Private) Limited (AKDSPL) is the holding company of AKD Group having a number of subsidiaries engaged in real estate, oil & gas and financial services sector. Being a holding company, AKDSPL arranges funding and invests in its subsidiaries/other group companies in the form of equity and debt.

2. The names of substantial shareholders of Aqeel Karim Dhedhi Securities (Private) Limited together with their respective shareholdings.
No. of Shares
Par Value
Amount (PKR)
Held By
% of Shareholding
69,272,000
10
692,720,000
Mr. Aqeel Karim Dhedhi
66%
6,000
10
60,000
Mr. Tariq Adam
0.006%
10,265,000
10
102,650,000
Mrs. Yasmeen Aqeel
10%
450,000
10
4,500,000
Mr. Muhammad Iqbal
0.3%
5,006,000
10
50,060,000
Ms. Ayesha Aqeel
4.7%
20,001,000
10
200,010,000
Ms. Hina Junaid
19%
105,000,000
10
1,050,000,000
Total Paid-up Capital
100%
3. The highest percentage ratio applicable to the Proposed Investment pursuant to Rule10.02(g) of the ACE Market Listing Requirements.

The highest percentage ratio applicable to the Proposed Investment pursuant to Paragraph 10.02(g) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad is 6.7%, based on the latest audited consolidated financial statements of M3Tech for the financial year ended 30 June 2017.

This announcement is dated 18 April 2019.




Announcement Info

Company Name M3 TECHNOLOGIES (ASIA) BERHAD
Stock Name M3TECH
Date Announced 18 Apr 2019
Category General Announcement for PLC
Reference Number GA1-18042019-00035