MULTIPLE PROPOSALS EA HOLDINGS BERHAD ("EAH" OR THE "COMPANY") I. PROPOSED BONUS ISSUE OF UP TO 267,356,264 NEW ORDINARY SHARES OF RM0.10 EACH IN EAH ("EAH SHARE(S)") ("BONUS SHARE(S)") TO BE CREDITED AS FULLY PAID-UP ON THE BASIS OF ONE (1) BONUS SHARE FOR EVERY FIVE (5) EXISTING EAH SHARES HELD ON AN ENTITLEMENT DATE TO BE DETERMINED LATER ("PROPOSED BONUS ISSUE"); II. PROPOSED ACQUISITION BY EAH OF 800,000 ORDINARY SHARES OF RM1.00 EACH IN CEKAP AIR SDN BHD ("CEKAP"), REPRESENTING 20% OF THE EQUITY INTEREST IN CEKAP FOR A PURCHASE CONSIDERATION OF RM47.04 MILLION, TO BE FULLY SATISFIED VIA THE ISSUANCE OF NEW EAH SHARES AT THE ISSUE PRICE OF RM0.10 PER EAH SHARE ("PROPOSED ACQUISITION"); AND III. PROPOSED DIVERSIFICATION OF THE EXISTING PRINCIPAL ACTIVITIES OF EAH AND ITS SUBSIDIARY COMPANIES TO INCLUDE MECHANICAL AND ELECTRICAL ENGINEERING BUSINESS AND CONSTRUCTION PROJECT MANAGEMENT CONSULTANCY BUSINESS ("PROPOSED DIVERSIFICATION") (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
| EA HOLDINGS BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | EA HOLDINGS BERHAD ("EAH" OR THE "COMPANY") I. PROPOSED BONUS ISSUE OF UP TO 267,356,264 NEW ORDINARY SHARES OF RM0.10 EACH IN EAH ("EAH SHARE(S)") ("BONUS SHARE(S)") TO BE CREDITED AS FULLY PAID-UP ON THE BASIS OF ONE (1) BONUS SHARE FOR EVERY FIVE (5) EXISTING EAH SHARES HELD ON AN ENTITLEMENT DATE TO BE DETERMINED LATER ("PROPOSED BONUS ISSUE"); II. PROPOSED ACQUISITION BY EAH OF 800,000 ORDINARY SHARES OF RM1.00 EACH IN CEKAP AIR SDN BHD ("CEKAP"), REPRESENTING 20% OF THE EQUITY INTEREST IN CEKAP FOR A PURCHASE CONSIDERATION OF RM47.04 MILLION, TO BE FULLY SATISFIED VIA THE ISSUANCE OF NEW EAH SHARES AT THE ISSUE PRICE OF RM0.10 PER EAH SHARE ("PROPOSED ACQUISITION"); AND III. PROPOSED DIVERSIFICATION OF THE EXISTING PRINCIPAL ACTIVITIES OF EAH AND ITS SUBSIDIARY COMPANIES TO INCLUDE MECHANICAL AND ELECTRICAL ENGINEERING BUSINESS AND CONSTRUCTION PROJECT MANAGEMENT CONSULTANCY BUSINESS ("PROPOSED DIVERSIFICATION") (COLLECTIVELY REFERRED TO AS THE "PROPOSALS") |
On behalf of the Board of Directors of EAH, RHB Investment Bank Berhad wishes to announce that the Company proposes to undertake the following:- i. bonus issue of up to 267,356,264 Bonus Shares, to be credited as fully paid-up on the basis of one (1) Bonus Share for every five (5) existing EAH Shares held on an entitlement date to be determined later ("Proposed Bonus Issue"); ii. acquisition by EAH from Chong Mui Fun, Shankar a/l Muniandy, Yong Chee Hon, Dr. Yeoh Seong Mok, Yong Zhen Wei and Yeoh William (collectively referred to as the "Vendors"), for the proposed acquisition of 800,000 ordinary shares of RM1.00 each in Cekap, representing 20% of the equity interest in Cekap for a purchase consideration of RM47,040,000, which will be fully satisfied by the issuance of 470,400,000 EAH Shares at an issue price of RM0.10 per EAH Share ("Proposed Acquisition"); and iii. diversification of the existing principal activities of EAH and its subsidiary companies to include mechanical and electrical engineering business and construction project management consultancy business ("Proposed Diversification"). Further details on the Proposals are set out in the attachment enclosed. This announcement is dated 18 March 2015.
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Announcement Info
| Company Name | EA HOLDINGS BERHAD (ACE Market) |
| Stock Name | EAH |
| Date Announced | 18 Mar 2015 |
| Category | General Announcement |
| Reference No | MI-150318-62067 |