On behalf of the Board of Directors of Econpile ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOB Kay Hian") wishes to announce that the Company proposes to undertake a private placement of up to 10% of the total number of issued shares of Econpile to third party investor(s) to be identified later and at an issue price to be determined and announced later pursuant to Sections 75 and 76 of the Companies Act 2016 ("Proposed Private Placement").
Further details of the Proposed Private Placement are set out in the attachment enclosed.
This announcement is dated 15 September 2020.