about
business
IR
news


News Updates

Date : 26 February 2021

OTHERS KWANTAS CORPORATION BERHAD ("KWANTAS" OR "COMPANY") PROPOSED SELECTIVE CAPITAL REDUCTION AND REPAYMENT EXERCISE OF KWANTAS PURSUANT TO SECTION 116 OF THE COMPANIES ACT, 2016 ("PROPOSED SCR")

KWANTAS CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description
KWANTAS CORPORATION BERHAD ("KWANTAS" OR "COMPANY")

PROPOSED SELECTIVE CAPITAL REDUCTION AND REPAYMENT EXERCISE OF KWANTAS PURSUANT TO SECTION 116 OF THE COMPANIES ACT, 2016 ("PROPOSED SCR")
(Unless otherwise stated, all abbreviations used in this announcement shall have the same meaning as defined in the Company’s announcement dated 25 September 2020 and the Company’s circular to shareholders in relation to the Proposed SCR dated 30 October 2020)

We refer to the announcements dated 26 August 2020, 28 August 2020, 2 September 2020, 25 September 2020, 29 September 2020, 28 October 2020, 30 October 2020, 30 November 2020, 31 December 2020 and 27 January 2021 in relation to the Proposed SCR.

On behalf of the Board, Maybank IB wishes to announce that the High Court has fixed the hearing date on 1 March 2021 to confirm the reduction of the issued share capital of the Company in accordance with Section 116 of the Act. Accordingly, the revised tentative timetable for the implementation of the Proposed SCR is as follows:

Revised timing
Event
March 2021
- High Court sanction hearing

- Announcement of Entitlement Date

- Announcement of notice of suspension of trading of Kwantas Shares

- Entitlement Date

- Lodgement of an office copy of the High Court Order with the Registrar of Companies
April 2021
- Settlement of the SCR Offer Price

- Completion

- De-listing of the Company from the Official List
This announcement is dated 26 February 2021.





Announcement Info

Company Name KWANTAS CORPORATION BERHAD
Stock Name KWANTAS
Date Announced 26 Feb 2021
Category General Announcement for PLC
Reference Number GA1-25022021-00064


Back