NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : OTHER ISSUE OF SECURITIES Mi TECHNOVATION BERHAD ("Mi TECHNOVATION" OR "COMPANY") (I) PROPOSED BONUS ISSUE; AND (II) PROPOSED SGS; (COLLECTIVELY REFERRED TO AS "PROPOSALS")

MI TECHNOVATION BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
OTHER ISSUE OF SECURITIES
Description
Mi TECHNOVATION BERHAD ("Mi TECHNOVATION" OR "COMPANY")

(I)	PROPOSED BONUS ISSUE; AND 
(II)	PROPOSED SGS; 

(COLLECTIVELY REFERRED TO AS "PROPOSALS")

On behalf of the Board of Directors of Mi Technovation (“Board”), Affin Hwang Investment Bank Berhad (“Affin Hwang IB”) wishes to announce that the Company proposes to undertake the following:

 

(i)  bonus issue of up to 250,000,000 new ordinary shares in Mi Technovation (“Mi Technovation Share(s)” or “Share(s)”) (“Bonus Share(s)”) on the basis of one (1) Bonus Share for every two (2) existing Mi Technovation Shares held on an entitlement date to be determined and announced later (“Entitlement Date”) (“Proposed Bonus Issue”); and

 

(ii)  establishment of an employees’ share grant scheme of up to ten percent (10%) of the total number of issued shares of the Company (excluding treasury shares, if any) at any point of time during the duration of the scheme for the eligible executive Directors and employees of Mi Technovation and its subsidiary companies (“Mi Technovation Group” or “Group”) (excluding subsidiary companies which are dormant, if any) (“Proposed SGS” or “Scheme”)

 

Please refer to the attachment for further details.


This announcement is dated 8 October 2019.




Please refer attachment below.



Announcement Info

Company Name MI TECHNOVATION BERHAD
Stock Name MI
Date Announced 08 Oct 2019
Category General Announcement for PLC
Reference Number GA1-08102019-00019