News

On behalf of the Board of Directors of the Company, Kenanga Investment Bank Berhad wishes to announce that the Company proposes to undertake the following proposals:-

(i) diversification of the business of KAB and its subsidiaries (“KAB Group” or the “Group”) to include the provision of sustainable energy solutions (“SES Business”) (“Proposed Diversification”); and

(ii) private placement of up to 351,581,000 new ordinary shares in the Company (“KAB Shares” or “Shares”) (“Placement Shares”), representing up to 20% of the total number of issued Shares, to independent third party investor(s) to be identified later at an issue price to be determined later (“Proposed Private Placement”).

Please refer to the attachment for further details.

This announcement is dated 7 September 2022.