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MULTIPLE PROPOSALS YGL CONVERGENCE BERHAD ("YGL" OR "COMPANY") (I) PROPOSED PRIVATE PLACEMENT; AND (II) PROPOSED CAPITAL REDUCTION, COLLECTIVELY REFERRED TO AS THE "PROPOSALS".

YGL CONVERGENCE BERHAD

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

(I)	PROPOSED PRIVATE PLACEMENT; AND

(II)	PROPOSED CAPITAL REDUCTION,

COLLECTIVELY REFERRED TO AS THE "PROPOSALS".

On behalf of the Board of Directors of Ygl, Alliance Islamic Bank Berhad wishes to announce that Ygl proposes to undertake the following proposals:

 

(i) proposed private placement of up to 51,709,008 new ordinary shares in Ygl ("Ygl Shares" or "Shares"), representing up to 20% of the enlarged number of issued Shares of Ygl ("Proposed Private Placement"); and

 

(ii) proposed reduction of the issued share capital of Ygl pursuant to Section 117 of the Companies Act 2016 ("Proposed Capital Reduction").

 

The Proposed Private Placement and Proposed Capital Reduction are collectively referred to as the "Proposals".

 

Further details of the Proposals are set out in the attachment to this announcement.

 

This announcement is dated 22 May 2023.




Please refer attachment below.



Announcement Info

Company Name YGL CONVERGENCE BERHAD
Stock Name YGL
Date Announced 22 May 2023
Category General Announcement for PLC
Reference Number GA1-22052023-00033



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