General Announcement for PLC

28/04/2022

MULTIPLE PROPOSALS SERSOL BERHAD ("SERSOL" OR "COMPANY") I. PROPOSED BONUS ISSUE OF SHARES; AND II. PROPOSED FREE WARRANTS ISSUE (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

SERSOL BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description 
SERSOL BERHAD ("SERSOL" OR "COMPANY") 

I. PROPOSED BONUS ISSUE OF SHARES; AND
II. PROPOSED FREE WARRANTS ISSUE

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

We refer to the announcements dated 22 March 2022, 12 April 2022 and 13 April 2022 in relation to the Proposals (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

On behalf of the Board, TA Securities wishes to announce that Bursa Securities had, vide its letter dated 27 April 2022, resolved to approve the following:

(i)             listing and quotation of up to 385,277,375 Bonus Shares to be issued pursuant to the Proposed Bonus Issue of Shares;

(ii)            listing and quotation of up to 75,296,550 additional warrants 2013/2023 (“Adjustment Warrants A”) to be issued pursuant to the adjustment arising from the Proposed Bonus Issue of Shares;

(iii)           listing and quotation of up to 75,296,550 new Sersol Shares to be issued pursuant to the exercise of the Adjustment Warrants A;

(iv)           admission to the Official List and listing and quotation of up to 165,118,875 Warrants B to be issued pursuant to the Proposed Free Warrants Issue; and

(v)            listing and quotation of up to 165,118,875 new Sersol Shares to be issued arising from the exercise of the Warrants B.

The approvals granted by Bursa Securities for the Proposed Bonus Issue of Shares and Proposed Free Warrants Issue are subject to the following conditions:

1.             Sersol and TA Securities must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Bonus Issue of Shares and Proposed Free Warrants Issue;

2.             Sersol and TA Securities to inform Bursa Securities upon the completion of the Proposed Bonus Issue of Shares and Proposed Free Warrants Issue respectively;

3.             Sersol and TA Securities to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Bonus Issue of Shares and Proposed Free Warrants Issue are completed;

4.             in relation to the Proposed Bonus Issue of Shares, Sersol and TA Securities are required to make the relevant announcements pursuant to Rules 6.36(2)(a)&(b) and 6.36(4) of the Listing Requirements; and

5.             in relation to the Proposed Free Warrants Issue, Sersol to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the exercise of Warrants B as at the end of each quarter together with a detailed computation of listing fees payable.

This announcement is dated 28 April 2022.



Announcement Info

Company Name SERSOL BERHAD
Stock Name SERSOL
Date Announced 28 Apr 2022
Category General Announcement for PLC
Reference Number GA1-28042022-00022


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