Announcements


Date: 09 January 2018

OTHERS FINTEC GLOBAL BERHAD (Formerly known as Asia Bioenergy Technologies Berhad ("FINTEC" or "the Company") - LETTER OF UNDERTAKING PROVIDED BY ASIABIO CAPITAL SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, TO FOCUS DYNAMICS GROUP BERHAD


Type Announcement
Subject OTHERS
Description FINTEC GLOBAL BERHAD (Formerly known as Asia Bioenergy Technologies Berhad ("FINTEC" or "the Company") - LETTER OF UNDERTAKING PROVIDED BY ASIABIO CAPITAL SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, TO FOCUS DYNAMICS GROUP BERHAD

Reference is made to the Company's circular to shareholders dated 30 August 2017 and abridged prospectus dated 2 November 2017, whereby the Company has stated that its wholly-owned subsidiary, Asiabio Capital Sdn Bhd ("Asiabio Capital"), will subscribe for its entitlement of irredeemable convertible preference shares in Focus Dynamics Group Berhad ("Focus") ("Focus ICPS") to be issued pursuant to the renounceable rights issue of ICPS with free detachable warrants exercise ("Focus Warrants D") which was announced by Focus on 28 July 2017 ("Focus Proposals").


Further to the above, the Board of Directors of Fintec wishes to announce that it has on even date provided a letter of undertaking to Focus for the subscription by Asiabio Capital of its corresponding entitlement to the revised Focus Proposals as announced by Focus on 9 January 2018 ("Revised Focus Proposals") ("Undertaking").


Based on the Revised Focus Proposals and Asiabio Capital's existing shareholding in Focus, the Undertaking will entail the subscription by Asiabio Capital of 284,699,610 Focus ICPS together with 56,939,922 Focus Warrants D at a price to be determined. The Undertaking will be wholly funded via proceeds raised from Fintec's rights issue with warrants exercise which was completed on 11 December 2017.


Please refer to the announcement made by Focus dated 9 January 2018 for further details on the Revised Focus Proposals.


This announcement is dated 9 January 2018.





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