| Type | Announcement |
| Subject | KKB ENGINEERING BERHAD (“KKB” OR “COMPANY”) (I) PROPOSED BONUS ISSUE (II) PROPOSED SHARE SPLIT (III) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL (IV) PROPOSED AMENDMENTS (collectively, the “Proposals”) |
| Contents | (I) PROPOSED BONUS ISSUE OF 48,336,000 NEW ORDINARY SHARES OF RM1.00 EACH HELD IN KKB (“KKB SHARES”) (“BONUS SHARES”) TO BE CREDITED AS FULLY PAID UP ON THE BASIS OF THREE (3) NEW KKB SHARES FOR EVERY FIVE (5) EXISTING KKB SHARES HELD ON AN ENTITLEMENT DATE TO BE DETERMINED AND ANNOUNCED LATER (“ENTITLEMENT DATE”) (“PROPOSED BONUS ISSUE”); (II) PROPOSED SHARE SPLIT INVOLVING THE SUBDIVISION OF EVERY ONE (1) EXISTING ORDINARY SHARE OF RM1.00 EACH HELD IN KKB INTO TWO (2) ORDINARY SHARES OF RM0.50 EACH (“SUBDIVIDED KKB SHARES”) HELD IN KKB ON THE ENTITLEMENT DATE (“PROPOSED SHARE SPLIT”); (III) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL OF KKB FROM RM100,000,000 COMPRISING 100,000,000 KKB SHARES TO RM250,000,000 COMPRISING 500,000,000 SUBDIVIDED KKB SHARES (“PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL”); AND (IV) PROPOSED AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF KKB (“PROPOSED AMENDMENTS”). (collectively, the “Proposals”) |
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We refer to our announcement dated 23 February 2010 in relation to the above.
On behalf of the Board of Directors of KKB, Kenanga Investment Bank Berhad (“KIBB”) is pleased to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) has, vide its letter dated 17 March 2010, granted its approval for:- (i) the listing and quotation of 48,336,000 new ordinary shares of RM1.00 each held in KKB to be issued pursuant to the Proposed Bonus Issue; and (ii) the Proposed Share Split. The Proposed Increase in Authorised Share Capital and Proposed Amendments are not subjected to the approval of Bursa Securities. The approval granted by Bursa Securities in relation to the Proposed Bonus Issue is subject to the following conditions: - a) KKB and its adviser must fully comply with the relevant provisions under the Main Market Listing Requirements (“Main LR”) pertaining to the implementation of the Proposed Bonus Issue; b) KKB and its adviser to inform Bursa Securities upon the completion of the Proposed Bonus Issue; c) KKB 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 is completed; and d) KKB and its adviser are required to make the relevant announcements pursuant to Paragraph 6.35(2)(a) and (b) and 6.35(4) of the Main LR. In relation to the Proposed Share Split, KKB or its adviser is required to make the relevant announcement pursuant to Paragraph 13.10(2) of the Main LR. The Bonus Shares and the Subdivided KKB Shares will be listed and quoted on the Main Market of Bursa Securities on the next market day after the Entitlement Date simultaneously. The Proposals are now pending the approval of shareholders of KKB at an annual general meeting, details of which will be set out in a circular to shareholders to be issued in due course. This announcement is dated 18 March 2010. |
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| Company Name | KKB ENGINEERING BERHAD |
| Stock Name | KKB |
| Date Announced | 18 Mar 2010 |
| Category | General Announcement |
| Reference No | MI-100318-64039 |
