MULTIPLE PROPOSALS FUTUTECH BERHAD ("FUTUTECH" OR THE COMPANY") - PROPOSED ACQUISITIONS; - PROPOSED PRIVATE PLACEMENT; - PROPOSED INCREASE IN AUTHORISED CAPITAL; AND - PROPOSED AMENDMENTS TO M&A (COLLECTIVELY REFERRED TO AS THE PROPOSALS)
FUTUTECH BERHAD ("FUTUTECH" OR THE COMPANY") - PROPOSED ACQUISITIONS; - PROPOSED PRIVATE PLACEMENT; - PROPOSED INCREASE IN AUTHORISED CAPITAL; AND - PROPOSED AMENDMENTS TO M&A (COLLECTIVELY REFERRED TO AS THE PROPOSALS)
Reference is made to the announcements dated 15 September 2015, 6 October 2015 and 18 December 2015 in relation to the Proposals (“Announcements”).
Unless otherwise stated, the definitions used throughout this announcement shall have the same meaning as defined in the Announcements.
On behalf of the Board of Directors of Fututech, the Joint Advisers are pleased to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) has vide its letter dated 18 December 2015 granted the Company an extension of time of six (6) months from the date of completion of the Proposed Acquisitions to comply with the public spread requirement pursuant to Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Securities (“Public Spread Requirement”).
Based on the Record of Depositors of Fututech as at 15 December 2015, upon the completion of the Proposed KPSB Acquisition, the public shareholding spread of the Company will decrease to approximately 20.01%, which will not be in compliance with the Public Spread Requirement.
In order to comply with the Public Spread Requirement, the Company will take / has taken, inter alia, the following measures to rectify the shortfall in public shareholding spread:-
This announcement is dated 18 December 2015.
|Company Name||FUTUTECH BERHAD|
|Date Announced||18 Dec 2015|
|Category||General Announcement for PLC|