NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING SAUDEE GROUP BERHAD ("SAUDEE" OR THE "COMPANY") PROPOSED PRIVATE PLACEMENT OF UP TO 19,895,500 NEW ORDINARY SHARES IN SAUDEE, REPRESENTING UP TO APPROXIMATELY 10% OF THE TOTAL NUMBER OF ISSUED SHARES OF SAUDEE (EXCLUDING TREASURY SHARES), TO INDEPENDENT THIRD PARTY INVESTOR(S) TO BE IDENTIFIED LATER AT AN ISSUE PRICE TO BE DETERMINED LATER

SAUDEE GROUP BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description
SAUDEE GROUP BERHAD ("SAUDEE" OR THE "COMPANY")

PROPOSED PRIVATE PLACEMENT OF UP TO 19,895,500 NEW ORDINARY SHARES IN SAUDEE, REPRESENTING UP TO APPROXIMATELY 10% OF THE TOTAL NUMBER OF ISSUED SHARES OF SAUDEE (EXCLUDING TREASURY SHARES), TO INDEPENDENT THIRD PARTY INVESTOR(S) TO BE IDENTIFIED LATER AT AN ISSUE PRICE TO BE DETERMINED LATER

(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 17 August 2020 in relation to the Proposed Private Placement (“First Announcement”), where applicable, unless stated otherwise or defined herein.)

 

Reference is made to the announcements dated 17 August 2020, 19 August 2020 and 21 August 2020 in relation to the Proposed Private Placement.

 

On behalf of the Board, Mercury Securities wishes to announce that Bursa Securities has, vide its letter dated 24 August 2020, resolved to approve the listing and quotation of up to 19,895,500 new Saudee Shares to be issued pursuant to the Proposed Private Placement.

 

The approval granted by Bursa Securities for the Proposed Private Placement is subject to the following:-

 

(i)         Saudee and Mercury Securities must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Private Placement;

 

(ii)         Saudee / Mercury Securities is required to submit the list of placees for the Proposed Private Placement to Bursa Securities for review and clearance prior to the issuance and allotment of the new Saudee Shares;

 

(iii)        Saudee and Mercury Securities to inform Bursa Securities upon the completion of the Proposed Private Placement;

 

(iv)        Mercury Securities to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Private Placement is completed; and

 

(v)        Saudee to furnish Bursa Securities with a certified true copy of the resolution passed pursuant to Sections 75 and 76 of the Act, in the event the existing authority has expired prior to the full implementation of the Proposed Private Placement.

 

 

This announcement is dated 24 August 2020.






Announcement Info

Company Name SAUDEE GROUP BERHAD
Stock Name SAUDEE
Date Announced 24 Aug 2020
Category General Announcement for PLC
Reference Number GA1-24082020-00108