NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : OTHER ISSUE OF SECURITIES HO WAH GENTING BERHAD ("HWGB" OR THE "COMPANY") PROPOSED SETTLEMENT OF DEBT OWING TO CREDITORS OF HWGB TO BE SATISFIED ENTIRELY VIA THE ISSUANCE OF NEW ORDINARY SHARES IN HWGB ("PROPOSED CREDITORS CAPITALISATION")

HO WAH GENTING BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
OTHER ISSUE OF SECURITIES
Description
HO WAH GENTING BERHAD ("HWGB" OR THE "COMPANY")

PROPOSED SETTLEMENT OF DEBT OWING TO CREDITORS OF HWGB TO BE SATISFIED ENTIRELY VIA THE ISSUANCE OF NEW ORDINARY SHARES IN HWGB ("PROPOSED CREDITORS CAPITALISATION")

Unless otherwise stated, all capitalised terms set out herein shall have the same meanings as those set out in HWGB’s announcements dated 16 August 2019 and 28 August 2019 in relation to the Proposed Creditors Capitalisation ("Announcement").

 

On behalf of the Board, Kenanga IB wishes to announce that Bursa Securities had, vide its letter dated 13 September 2019, resolved to approve the listing and quotation of 102,666,900 Settlement Shares to be issued pursuant to the Proposed Creditors Capitalisation.

 

The approval by Bursa Securities for the above is subject to the following conditions:-

 

i.      HWGB and Kenanga IB must fully comply with the relevant provisions under the Main Market Listing Requirements of Bursa Securities pertaining to the implementation of the Proposed Creditors Capitalisation;

 

ii.     HWGB and Kenanga IB to inform Bursa Securities upon the completion of the Proposed Creditors Capitalisation;

 

iii.     HWGB or Kenanga IB to confirm and furnish a certified true copy of the resolution passed by the shareholders of HWGB approving the Proposed Creditors Capitalisation to Bursa Securities prior to the listing and quotation of the Settlement Shares; and

 

iv.    Kenanga IB to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval, including the compliance of the public shareholding spread requirements, prior to the listing and quotation of the Settlement Shares.

 

This announcement is dated 13 September 2019.






Announcement Info

Company Name HO WAH GENTING BERHAD
Stock Name HWGB
Date Announced 13 Sep 2019
Category General Announcement for PLC
Reference Number GA1-13092019-00052