Bursa Announcements

Date: 26 October 2017

MULTIPLE PROPOSALS ECONPILE HOLDINGS BERHAD ("ECONPILE" OR THE "COMPANY") (I) PROPOSED SHARE SPLIT; (II) PROPOSED BONUS ISSUE OF SHARES; AND (III) PROPOSED BONUS ISSUE OF WARRANTS. (COLLECTIVELY REFERRED TO AS PROPOSALS)


Type Announcement
Subject MULTIPLE PROPOSALS
Description ECONPILE HOLDINGS BERHAD ("ECONPILE" OR THE "COMPANY")

(I) PROPOSED SHARE SPLIT;

(II) PROPOSED BONUS ISSUE OF SHARES; AND

(III) PROPOSED BONUS ISSUE OF WARRANTS.

(COLLECTIVELY REFERRED TO AS PROPOSALS)

(Unless otherwise defined, the abbreviations and definitions used throughout this announcement are the same as those previously defined in the earlier announcements).

 

We refer to the announcements dated 6 September 2017 and 4 October 2017 in relation to the Proposals.

 

On behalf of the Company, Kenanga IB is pleased to announce that Bursa Securities had, vide its letter dated 25 October 2017 ("Approval Letter"), resolved to approve the following:

(a)   Proposed Share Split;

(b)   Listing and quotation of up to 267,500,005 new Econpile Shares to be issued pursuant to the Proposed Bonus Issue of Shares;

(c)   Admission to the Official List and listing and quotation of up to 267,500,005 Warrants to be issued pursuant to the Proposed Bonus Issue of Warrants; and

(d)   Listing and quotation of up to 267,500,005 new Econpile Shares to be issued arising from the exercise of the Warrants.

 

The approval of Bursa Securities is subject to the following conditions:

(i)    Econpile and Kenanga IB must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposals;

(ii)   Econpile and Kenanga IB to inform Bursa Securities upon the completion of the Proposals;

(iii)  Econpile and Kenanga IB to furnish a certified true copy of the resolution passed by shareholders at the shareholders' meeting for the Proposals;

(iv)  Econpile and Kenanga IB to make the relevant announcements pursuant to paragraph 6.56(2)(b)(ii) and (iii) and paragraph 13.10(2) of the Listing Requirements;

(v)   Econpile to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposals are completed; and

(vi)  To incorporate Bursa Securities' comments in respect of draft circular to shareholders for the Proposals.

 

This announcement is dated 26 October 2017.

 




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