LONDON BISCUITS BERHAD ("LBB") SUBSCRIPTION AGREEMENT PURSUANT TO THE PROPOSED SUBSCRIPTION BY COPE OPPORTUNITIES IV SDN. BHD. ("COPE") OF 15,000,000 OF NEW REDEEMABLE CONVERTIBLE PREFERENCE SHARES ("RCPS") AT THE SUBSCRIPTION PRICE OF RM1.00 EACH

LONDON BISCUITS BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-12092018-00001
Subject LONDON BISCUITS BERHAD ("LBB") SUBSCRIPTION AGREEMENT PURSUANT TO THE PROPOSED SUBSCRIPTION BY COPE OPPORTUNITIES IV SDN. BHD. ("COPE") OF 15,000,000 OF NEW REDEEMABLE CONVERTIBLE PREFERENCE SHARES ("RCPS") AT THE SUBSCRIPTION PRICE OF RM1.00 EACH
Description
LONDON BISCUITS BERHAD ("LBB" OR "THE COMPANY")    
SUBSCRIPTION AGREEMENT PURSUANT TO THE PROPOSED SUBSCRIPTION BY COPE OPPORTUNITIES IV SDN. BHD. ("COPE") OF 15,000,000 OF NEW REDEEMABLE CONVERTIBLE PREFERENCE SHARES AT THE SUBSCRIPTION PRICE OF RM1.00 EACH IN KINOS FOOD INDUSTRIES (M) SDN. BHD. ("KINOS"), A WHOLLY-OWNED SUBSIDIARY OF LBB AND SHAREHOLDERS AGREEMENT
Query Letter Contents

We refer to your Company’s announcement dated 7 September 2018, in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

  1. Principal business activity of KINOS as well as its financial information such as net assets and net profits based on the latest audited accounts;
  2. Rationale for LBB to enter into the subscription agreement with COPE;
  3. We took note that KINOS is a wholly owned subsidiary of LBB.  In this regard, please provide greater clarity as to why DSLYC is part of the Put Option Agreement;
  4. Name of directors and substantial shareholders of COPE and to further elaborate on the benefits that COPE can contribute to KINOS;
  5. Confirmation as to whether the proposals would trigger Material Dilution under Para 8.21 of MMLR. If no, to provide the basis and justification thereof;
  6. Further information on the Put Agreement (including the tenure) and the rationale of entering into such agreement; and
  7. Salient terms of RCPS.

Yours faithfully,

HENG TECK HENG
Vice President, Issuers
Listing, Regulation

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

Reference is made to the query letter from Bursa Malaysia Securities Berhad dated 13 September 2018 and the Company’s announcement dated 7 September 2018 in relation to the above matter.

LONDON BISCUITS BERHAD wishes to provide additional information in relation thereto as per the file attached.

This announcement is dated 14 September 2018.

 



Please refer attachment below.

Attachments

LBB - Kinos Query (Final).pdf
158.9 kB



Announcement Info

Company Name LONDON BISCUITS BERHAD
Stock Name LONBISC
Date Announced 14 Sep 2018
Category General Announcement for PLC
Reference Number GA1-13092018-00079