Announcements


Date: 21 August 2017

MULTIPLE PROPOSALS ASIA BIOENERGY TECHNOLOGIES BERHAD ("ABT" OR THE "COMPANY") (I) PROPOSED RIGHTS ISSUE OF ICPS WITH WARRANTS; (II) PROPOSED CONSTITUTION AMENDMENTS; AND (III) PROPOSED BYLAWS AMENDMENTS (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")


Type Announcement
Subject MULTIPLE PROPOSALS
Description ASIA BIOENERGY TECHNOLOGIES BERHAD ("ABT" OR THE "COMPANY")

(I) PROPOSED RIGHTS ISSUE OF ICPS WITH WARRANTS;
(II) PROPOSED CONSTITUTION AMENDMENTS; AND
(III) PROPOSED BYLAWS AMENDMENTS

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

(For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the Company's announcement dated 11 August 2017 in relation to the Proposals.)

We refer to Section 3 the Company's announcement dated 11 August 2017 ("Announcement") in relation to the proposed utilisation of proceeds arising from the Proposed Rights Issue of ICPS with Warrants.

On behalf of the Board, Mercury Securities wishes to announce that after further deliberation, the Board has decided that the proceeds to be raised under the Base Case Scenario and Maximum Scenario of up to RM38.6 million and up to RM56.2 million respectively will not be invested in companies listed or to be listed on the LEAP Market but instead will only be used for the Group's future investment in unquoted incubatee companies and/or start-up companies which are deemed appropriate by the Board as well as activities for nurturing and assisting incubatees as and when the opportunities arise.

Save for the above, all other information in the Announcement remains unchanged.

This announcement is dated 21 August 2017.




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