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OTHERS STEEL HAWK BERHAD ("STEEL HAWK" OR THE "COMPANY") PROPOSED TRANSFER

STEEL HAWK BERHAD

Type Announcement
Subject OTHERS
Description
STEEL HAWK BERHAD ("STEEL HAWK" OR THE "COMPANY")

PROPOSED TRANSFER

The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcements in relation to the Proposed Transfer.

We refer to the earlier announcements dated 10 July 2023, 12 July 2023, 5 October 2023, 29 December 2023, 22 January 2024, 11 March 2024 and 6 June 2024 in relation to the Proposed Transfer.

On behalf of the Board, UOBKH wishes to announce that the SC had, vide its letter dated 7 June 2024, approved the resultant equity structure of the Company pursuant to the Proposed Listing under the Bumiputera equity requirements for public listed companies, subject to the following conditions:-

i. Steel Hawk to make available at least 50% of the Shares offered to the Malaysian public investors via balloting to Bumiputera public investors in conjunction with the Proposed Listing;

ii. Steel Hawk to allocate 12.5% of its enlarged number of issued shares to Bumiputera investors to be approved or recognised by the Ministry of Investment, Trade and Industry within 1 year after achieving the profit requirement for companies seeking listing on the Main Market of Bursa Securities or 5 years after being listed on the ACE Market, whichever is earlier ("Compliance Date");

iii. Steel Hawk to submit to the SC a proposal to comply with the equity condition stated in condition (ii) above, at least 6 months prior to the Compliance Date; and

iv. UOBKH or Steel Hawk to submit Steel Hawk's equity structure to the SC upon completion of the Proposed Listing.

 

This announcement is dated 10 June 2024.






Announcement Info

Company Name STEEL HAWK BERHAD
Stock Name SKHAWK
Date Announced 10 Jun 2024
Category General Announcement for PLC
Reference Number GA1-10062024-00036



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