News

Reference is made to the Company’s earlier announcement dated 20 June 2024, 21 June 2024, 27 June 2024 and 12 July 2024 in relation to the Proposed Private Placement (“Earlier Announcements”). Unless stated otherwise, abbreviations and definitions used throughout this announcement shall bear the same meaning as those defined in the Earlier Announcements.

On behalf of the Board, Malacca Securities wishes to announce that Bursa Securities had vide its letter dated 19 July 2024, resolved to approve the listing and quotation of up to 198,634,288 new ordinary shares to be issued pursuant to the Proposed Private Placement, subject to the following conditions:-

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

(ii) Malacca Securities to inform Bursa Securities upon the completion of the Proposed Private Placement;

(iii) Malacca 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;

(iv) Malacca Securities to furnish Bursa Securities with details of the placees in accordance with Paragraph 6.15 of the Listing Requirements for Bursa Securities’ review, prior to the issuance/allotment of the Placement Shares; and

(v) KAB is required to make quarterly updates via Bursa LINK (simultaneous with the submission of quarterly report) on the following:-

(a) the status on each of the repayment of bank borrowings and the progress of the RE projects for which the total proceeds raised from the Proposed Private Placement are utilised for, including but not limited to, the total bank borrowings that have been repaid and the progress and percentages of completion of the respective RE projects;

(b) where relevant, details on where the balance of proceeds raised is being placed (pending utilisation). If it is parked with asset management company / fund manager, to disclose the name of the asset management company / fund manager; and

(c) the summary of Placement Shares issued and allotted as follows:-

1. date of price fixing and issuance date of Placement Shares (each tranche);
2. quantity of Placement Shares issued and allotted;
3. issue price and basis in arriving at (each tranche); and
4. aggregate number of Placement Shares issued and allotted as at the end of each quarter.

This announcement is dated 19 July 2024.