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MULTIPLE PROPOSALS UCrest Berhad (formerly known as Palette Multimedia Berhad) ("UCrest" or Company) and its subsidiary companies (UCrest Group) (I) Proposed Private Placement; and (II) Proposed ESOS. (the Proposed Private Placement and the Proposed ESOS are to be collectively referred to as Proposals)

UCREST BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
UCrest Berhad (formerly known as Palette Multimedia Berhad) ("UCrest" or Company) and its subsidiary companies (UCrest Group)

(I)	Proposed Private Placement; and
(II)	Proposed ESOS.

(the Proposed Private Placement and the Proposed ESOS are to be collectively referred to as Proposals)

(Unless stated otherwise, abbreviations and definitions used throughout this announcement shall be the same as the announcement in relation to the Proposals on 28 November 2017)

 

We refer to the announcements made by the Company on 28 November 2017.

 

On behalf of UCrest, KAF IB wishes to announce that Bursa Securities had, vide its letter dated 28 December 2017 to KAF IB, resolved to approve the following:-

 

1. Listing of up to 106,901,642 Placement Shares to be issued pursuant to the Proposed Private Placement; and

 

2. Listing of such number of new UCrest Shares representing up to 15% of the total number of issued shares of UCrest, excluding treasury shares, to be issued pursuant to the exercise of ESOS Options under the Proposed ESOS,

 

on the ACE Market of Bursa Securities.

 

The approval granted by Bursa Securities for the listing and quotation of Placement Shares is subject to the following conditions:-

 

1. UCrest and KAF IB must fully comply with the relevant provisions under the ACE LR pertaining to the implementation of the Proposed Private Placement; and

 

2. UCrest and KAF IB to inform Bursa Securities upon the completion of the Proposed Private Placement; and

 

3. UCrest to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Private Placement is completed.

 

The approval granted by Bursa Securities for the Proposed ESOS, is subject to the following conditions:-

 

1. KAF IB is required to submit a confirmation to Bursa Securities of full compliance of the Proposed ESOS pursuant to Rule 6.44 of the ACE LR and stating the effective date of implementation together with a certified true copy of the resolution passed by the shareholders in general meeting; and

 

2. UCrest is required to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the exercise of options, pursuant to the Proposed ESOS as at the end of each quarter together with a detailed computation of listing fees payable.

 

This announcement is dated 28 December 2017.






Announcement Info

Company Name UCREST BERHAD
Stock Name UCREST
Date Announced 28 Dec 2017
Category General Announcement for PLC
Reference Number GA1-28122017-00103



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