February 7, 2015

Company announcements: YONGTAI, NICE, FUTUTEC, KNM, PWROOT, BHS, BARAKAH, TEOSENG

YONGTAI - MULTIPLE PROPOSALS

Announcement Type: General Announcement
Company NameYONG TAI BERHAD  
Stock Name YONGTAI  
Date Announced6 Feb 2015  
CategoryGeneral Announcement
Reference NoOS-150206-60909

TypeAnnouncement
SubjectMULTIPLE PROPOSALS
DescriptionYONG TAI BERHAD (“YONGTAI” OR “COMPANY”)

(I) PROPOSED JOINT VENTURE;
(II) PROPOSED PAR VALUE REDUCTION;
(III) PROPOSED RIGHTS ISSUE WITH WARRANTS;
(IV) PROPOSED SPECIAL ISSUE;
(V) PROPOSED IASC; AND
(VI) PROPOSED AMENDMENTS

(COLLECTIVELY REFERRED TO AS “PROPOSALS”

Reference is made to the announcement dated 4 December 2014 in relation to the Proposals. For consistency, the abbreviations used throughout this announcement are the same as those in the previous announcements.

M&A Securities on behalf of the Company wishes to announce that Bursa Securities had vide its letter dated 6 February 2015 approved the following:-

(a) Admission to the Official List of the Main Market of Bursa Securities and the listing and quotation for up to 40,115,000 Warrants to be issued pursuant to the Proposed Rights Issue with Warrants; 

(b) Listing of and quotation for:- 

(i) 80,230,000 Rights Shares to be issued pursuant to the Proposed Rights Issue with Warrants;

(ii) Up to 40,115,000 new YONGTAI Shares to be issued arising from the full exercise of the Warrants; and

(iii) Up to 40,000,000 new YONGTAI Shares to be issued pursuant to the Proposed Special Issue.

The approval granted by Bursa Securities for the Proposed Rights Issue with Warrants and Proposed Special Issue is subject to the following conditions:-

(a) YONGTAI and M&A Securities must fully comply with the relevant provisions under the Main Market Listing Requirements pertaining to the implementation of the Proposed Rights Issue with Warrants and Proposed Special Issue;

(b) YONGTAI and M&A Securities to inform Bursa Securities upon the completion of the Proposed Rights Issue with Warrants and Proposed Special Issue;

(c) YONGTAI to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Rights Issue with Warrants and Proposed Special Issue are completed; and

(d) YONGTAI is required to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the exercise of the Warrants, as at the end of each quarter together with a detailed computation of listing fees payable.

This announcement is dated 6 February 2015.

 

 

 



NICE - OTHERS Monthly Announcement On The Status Of Default In Payments Pursuant To Practice Note 1 (“PN1”) Of The Main Market Listing Requirements (“MMLR”) Of Bursa Malaysia Securities Berhad

Announcement Type: General Announcement
Company NameNICHE CAPITAL EMAS HOLDINGS BERHAD  
Stock Name NICE  
Date Announced6 Feb 2015  
CategoryGeneral Announcement
Reference NoCC-150202-52B60

TypeAnnouncement
SubjectOTHERS
DescriptionMonthly Announcement On The Status Of Default In Payments Pursuant To Practice Note 1 (“PN1”) Of The Main Market Listing Requirements (“MMLR”) Of Bursa Malaysia Securities Berhad

Further to the announcement on 7 January 2015, the Board of Directors of the Company wishes to announce that there has been no material development on the Default status as previously announced.

This announcement is dated 6 February 2015.



FUTUTEC - OTHERS Heads of Agreement with Datuk Tee Eng Ho, Datin Toh Siew Chuon and Mr. Tee Eng Seng

Announcement Type: General Announcement
Company NameFUTUTECH BERHAD  
Stock Name FUTUTEC  
Date Announced6 Feb 2015  
CategoryGeneral Announcement
Reference NoCA-150206-44463

TypeAnnouncement
SubjectOTHERS
DescriptionHeads of Agreement with Datuk Tee Eng Ho, Datin Toh Siew Chuon and Mr. Tee Eng Seng

The Board of Directors of Fututech Berhad ("Company") is pleased to announce that the Company has on 6 February 2015 entered into a Heads of Agreement with Datuk Tee Eng Ho, Datin Toh Siew Chuon and Mr. Tee Eng Seng (“Vendors”) to explore and negotiate further with the Vendors on a proposed acquisitions by the Company of the entire issued and paid-up share capital of each Kerjaya Prospek (M) Sdn. Bhd. and Permatang Bakti Sdn. Bhd. from the Vendors for a total indicative purchase consideration of RM380 million (“Proposed Injection”).

 

Details of the Proposed Injection and a press release in relation to the Proposed Injection are attached for information.



FUTUTEC - FUTUTEC-RESUMPTION OF TRADING

Announcement Type: Listing Circular
Company NameFUTUTECH BERHAD  
Stock Name FUTUTEC  
Date Announced6 Feb 2015  
CategoryListing Circular
Reference NoNE-150206-34753

LISTING'S CIRCULAR NO. L/Q : 72435 OF 2015

Further to Listing's Circular No. L/Q 72420 of 2015, kindly be advised that trading in the above Company's securities will resume with effect from 9.00 a.m., Monday, 9 February 2015.

Your attention is drawn to the Company's announcements dated 6 February 2015.


KNM - TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS):NON RELATED PARTY TRANSACTIONS

Announcement Type: General Announcement
Company NameKNM GROUP BERHAD  
Stock Name KNM  
Date Announced6 Feb 2015  
CategoryGeneral Announcement
Reference NoKG-150206-39866

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
DescriptionSALE AND PURCHASE AGREEMENT BETWEEN KNM PROCESS SYSTEMS SDN BHD (“KNMPS”) AND NORTHFIELD GLOBAL LIMITED (“NGL”) FOR THE PROPOSED DISPOSAL OF KNMPS’S ENTIRE BUSINESSES & EQUITY INTERESTS IN KNM PTY LTD GROUP (“KPL GROUP”)

1. INTRODUCTION

The Board of Directors of KNM Group Berhad (“KNM” or the “Company’) wishes to announce that its wholly-owned subsidiary, KNM Process Systems Sdn Bhd (“KNMPS” or the “Vendor”) has on 5 February 2015 entered into a Sale and Purchase Agreement (“SPA”) with Northfield Global Limited (the “Purchaser’) for the disposal of inter alia the Vendor's entire business and equity interest in KNM Pty Ltd group (“KPL Group”) for a total cash consideration of AUD2.00 only (equivalent to RM5.54) (the “Consideration”) (hereinafter referred to as the “Proposed Disposal”).

2. INFORMATION ON KNMPS, NGL AND KPL

KNMPS was incorporated on 28 June 1990. It is principally involved in the design, manufacture, assembly and commissioning of process equipment, pressure vessels, heat exchangers, skid mounted assemblies, process pipe systems, storage tanks, specialised structural assemblies and module assemblies for the oil, gas and petrochemical industries. Its authorised share capital is RM2,500,000,000 divided into 2,500,000,000 ordinary shares of RM1.00 each and its issued and paid-up capital is RM1,600,000,000.

NGL is a company incorporated on 18 November 2014 and with its registered address at of P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Island. NGL is primarily an investment holding company. Its current its issued and paid-up capital is USD1.00 only.

KPL was incorporated on 28 November 2000 and it is principally an investment holding company. Its issued and paid-up capital is AUD5,300,000.00 comprising 4,300,002 ordinary shares. It is currently a wholly owned subsidiary of KNMPS.

3. THE PROPOSED DISPOSAL

3.1 The Proposed Disposal is not subject to any relevant authority’s approval and shall be completed on/by 7 February 2015 from the date of the Agreement. Upon completion, KPL Group shall immediately cease from being KNM’s group of subsidiaries.

3.2 KNM had originally invested the sum of AUD9.06 million (equivalent to approximately RM25.11 million) to acquire and develop KPL Group.

3.3 The Consideration was arrived at on a “willing buyer-willing seller” basis after taking into account the following factors:-

(i) The Purchaser’s agreement to take over all of KPL Group’s existing debts and liabilities;

(ii) The unaudited consolidated net liability of KPL Group as at 31 December 2014 is estimated to be amounted to AUD18.73 million (equivalent to approximately RM53.50 million);

4. RATIONALE FOR THE PROPOSED DISPOSAL

The rationale for the Proposed Disposal is to allow the Company to streamline its process equipment business by disposing of its loss making entities and is in tandem with the Company’s on-going transformation plan which entails the rationalisation of the Company’s manufacturing facilities worldwide.

5. FINANCIAL EFFECT OF THE PROPOSED DISPOSAL

5.1 The Proposed Disposal will not affect the share capital of KNM or the shareholdings of the substantial shareholders in KNM.

5.2 The gains or losses (if any) arising from the Proposed Disposal will depend on the net asset/liabilities of the KPL Group at the time of completion of the Proposed Disposal. The transaction will result in an estimated gain on disposal of RM22.50 million and this will be recognized in the year ending 31 December 2015.

5.3 The transaction will also not have a material effect on either the consolidated net assets or the consolidated gearing of KNM for the financial year ending 31 December 2015.

6. DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS

None of the Directors, major shareholders or persons connected to the Directors and/or major shareholders of the Company has any interest, direct or indirect, in the transaction.

7. DIRECTORS’ STATEMENT

Having considered all aspects of the transaction, the Board of Directors is of the opinion that the said transaction is in the best interest of the Company.

8. CONDITION OF PROPOSED DISPOSAL

The Proposed Disposal is not subject to the approval of any governmental authority and/or the shareholders of KNM.

9. DOCUMENTS FOR INSPECTION

The SPA is available for inspection at the registered office of KNM at 15 Jalan Dagang SB 4/1, Taman Sungai Besi Indah, 43300 Seri Kembangan, Selangor Darul Ehsan, Malaysia for three (3) months from date of this Announcement during normal business hours from Mondays to Fridays.

10. HIGHEST PERCENTAGE RATIO

The highest percentage ratio pursuant to paragraph 10.02(g) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad applicable to the Proposed Disposal is 1.565%.

This announcement is dated 6 February 2015.



PWROOT - Notice of Shares Buy Back - Immediate Announcement

Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Company NamePOWER ROOT BERHAD  
Stock Name PWROOT  
Date Announced6 Feb 2015  
CategoryNotice of Shares Buy Back - Immediate Announcement
Reference NoC&-150206-32763

Date of buy back06/02/2015
Description of shares purchasedOrdinary Shares of RM0.20 each
CurrencyMalaysian Ringgit (MYR)
Total number of shares purchased (units)312,700
Minimum price paid for each share purchased ($$)1.470
Maximum price paid for each share purchased ($$)1.490
Total consideration paid ($$)464,227.39
Number of shares purchased retained in treasury (units)312,700
Number of shares purchased which are proposed to be cancelled (units)
Cumulative net outstanding treasury shares as at to-date (units)4,661,500
Adjusted issued capital after cancellation
(no. of shares) (units)
 
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%)1.54


BHS - Others

Announcement Type: Entitlements (Notice of Book Closure)
Company NameBHS INDUSTRIES BERHAD  
Stock Name BHS  
Date Announced6 Feb 2015  
CategoryEntitlements (Notice of Book Closure)
Reference NoOS-150206-44060

EX-date24/02/2015
Entitlement date26/02/2015
Entitlement time05:00:00 PM
Entitlement subjectOthers
Entitlement descriptionShare split involving the subdivision of every one (1) ordinary share of RM0.50 each in BHS Industries Berhad (“BHS Shares”) (i.e. existing and new BHS Shares to be issued pursuant to the bonus issue of one (1) Bonus Shares for every one (1) existing BHS Share (“Bonus Shares”) into two (2) ordinary shares of RM0.25 each (“Subdivided Shares”)
Period of interest payment to
Financial Year End
Share transfer book & register of members will be to closed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone noTricor Investor Services Sdn Bhd (118401-V)
Level 17, The Gardens North Tower
Mid Valley City, Lingkaran Syed Putra
59200 Kuala Lumpur
Malaysia
Telephone No : (03) 2264 3883
Facsimile No : (03) 2282 188
Payment date
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers26/02/2015 
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit 
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable) 
Entitlement indicatorRatio
Ratio 2 : 1
Rights Issues/Offer Price

Remarks :
The Share Split will be undertaken concurrently with the Bonus Issue of Shares. The Share Split will be undertaken after the issuance of the Bonus Shares pursuant to the Bonus Issue of Shares.

The Subdivided Shares will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad (“Main Market”) on 27 February 2015, being the next market day immediately following the entitlement date.

The registrar of BHS is expected to issue and despatch the notice of allotment to all the entitled shareholders whose name appear in the Record of Depositors of BHS on the entitlement date within four (4) market days after the date of the Subdivided Shares are listed and quoted on the Main Market.

This announcement is dated 6 February 2015


BHS - Bonus Issue

Announcement Type: Entitlements (Notice of Book Closure)
Company NameBHS INDUSTRIES BERHAD  
Stock Name BHS  
Date Announced6 Feb 2015  
CategoryEntitlements (Notice of Book Closure)
Reference NoOS-150206-44052

EX-date24/02/2015
Entitlement date26/02/2015
Entitlement time05:00:00 PM
Entitlement subjectBonus Issue
Entitlement descriptionBonus issue of up to 80,000,000 ordinary shares of RM0.50 each in BHS Industries Berhad (“BHS Shares”) (“Bonus Shares”) on the basis of one (1) Bonus Share for every one (1) existing BHS Share (“Bonus Issue of Shares”)
Period of interest payment to
Financial Year End
Share transfer book & register of members will be to closed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone noTricor Investor Services Sdn Bhd (118401-V)
Level 17, The Gardens North Tower
Mid Valley City, Lingkaran Syed Putra
59200 Kuala Lumpur
Malaysia
Telephone No : (03) 2264 3883
Facsimile No : (03) 2282 188
Payment date
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers26/02/2015 
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit 
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)80000000 
Entitlement indicatorRatio
Ratio 1 : 1
Rights Issues/Offer Price

Remarks :
The Bonus Issue of Shares will be undertaken concurrently with the Share Split. The Share Split will be undertaken after the issuance of the Bonus Shares pursuant to the Bonus Issue. Hence, the Bonus Shares to be issued shall be in the form of the Subdivided Shares.

The listing and quotation for the Bonus Shares (ie. Subdivided Shares) on the Main Market of Bursa Malaysia Securities Berhad ("Main Market") shall take place on 27 February 2015, being the next market day immediately following the entitlement date.

The share registrar of BHS is expected to issue and despatch the notice of allotment to all the entitled shareholders whose name appear in the Record of Depositors of BHS on the entitlement date within four (4) market days after the date the Bonus Shares (i.e. Subdivided Shares) are listed and quoted on the Main Market.

This announcement is dated 6 February 2015


BARAKAH - OTHERS BARAKAH OFFSHORE PETROLEUM BERHAD - AWARD OF CONTRACT

Announcement Type: General Announcement
Company NameBARAKAH OFFSHORE PETROLEUM BERHAD  
Stock Name BARAKAH  
Date Announced6 Feb 2015  
CategoryGeneral Announcement
Reference NoCC-150206-00F6D

TypeAnnouncement
SubjectOTHERS
DescriptionBARAKAH OFFSHORE PETROLEUM BERHAD
- AWARD OF CONTRACT

INTRODUCTION

Barakah Offshore Petroleum Berhad ("Barakah" or the “Company") is pleased to announce that its wholly-owned subsidiary company, PBJV Group Sdn Bhd (“PBJV”), has received a Letter of Award from PETRONAS Carigali Sdn Bhd (“PCSB”) for the provision of engineering, procurement, fabrication, installation, commissioning and maintenance works of pig trap system (“Contract”).

INFORMATION ON THE CONTRACT

The Contract comprises provision of engineering, procurement, fabrication, installation, commissioning and maintenance works of pig trap system in Peninsular Malaysia, Sabah and Sarawak. The Contract duration is from 23 January 2015 to 22 January 2018, with extension option of one year, from 23 January 2018 to 22 January 2019. The pig trap system is essentially a facility to launch and receive pipe inspection gauges (“PIG”), which are used to run through internal section of pipelines from one end to the other end for inspection and maintenance of pipelines.

FINANCIAL EFFECTS


 
The total value of the Contract will depend on the actual work orders to be issued by PCSB from time to time during the Contract period. The Contract is expected to contribute positively towards the earnings and net assets per share of Barakah Group for the duration of the Contract.

RISK FACTORS

Risk factors affecting the Contract include, but not limited to, execution risks such as availability of skilled manpower and materials and changes in prices of materials. Barakah Group has, throughout the years, established its track record and expertise to undertake such projects.

As such, the management of Barakah Group believes that the Group is able to mitigate the abovementioned risk factors.

DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS'

None of the Directors and/or major shareholders and/or persons connected with the Directors and/or major shareholders of the Company has any direct or indirect interest in the Contract.

This announcement is dated 6 February 2015..

 

 


TEOSENG - NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS):BONUS ISSUES

Announcement Type: General Announcement
Company NameTEO SENG CAPITAL BERHAD  
Stock Name TEOSENG  
Date Announced6 Feb 2015  
CategoryGeneral Announcement
Reference NoMI-150206-55932

TypeAnnouncement
SubjectNEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
BONUS ISSUES
DescriptionTEO SENG CAPITAL BERHAD (“TEO SENG” OR “COMPANY”)

(I) BONUS ISSUE OF UP TO 100,000,000 NEW ORDINARY SHARES OF RM0.20 EACH IN TEO SENG (“SHARES”) (“BONUS SHARES”) TO BE CREDITED AS FULLY PAID-UP ON THE BASIS OF ONE (1) BONUS SHARE FOR EVERY TWO (2) EXISTING SHARES HELD AT THE CLOSE OF BUSINESS ON 28 JANUARY 2015 (“ENTITLEMENT DATE”) (“BONUS ISSUE OF SHARES”); AND

(II) BONUS ISSUE OF UP TO 50,000,000 WARRANTS (“WARRANTS”) ON THE BASIS OF ONE (1) WARRANT FOR EVERY FOUR (4) EXISTING SHARES HELD ON THE ENTITLEMENT DATE (“BONUS ISSUE OF WARRANTS”)

We refer to the announcements dated 11 November 2014, 21 November 2014, 5 December 2014, 23 December 2014 and 14 January 2015 in relation to, among others, the Bonus Issue of Shares and Bonus Issue of Warrants.

On behalf of the Board of Directors of Teo Seng (“Board”), Maybank Investment Bank Berhad wishes to announce that the Bonus Shares and Warrants shall be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) on 9 February 2015, being five (5) clear market days from the Entitlement Date.

This Announcement is dated 6 February 2015.



No comments:

Post a Comment