The Board of Luster Industries Bhd. (the “Company”)is pleased to announce that all the resolutions as set out in theNotice of the Extraordinary General Meeting (“EGM”) dated 03 December 2020 were voted on poll at the EGM of the Company held on 18 December 2020.
The results of the poll were verified by Value Creator Consultancy,the Independent Scrutineer appointed by the Company. The details of the poll results are set out in the table below.
This announcement is dated 18 December 2020
Voting Results |
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1. ORDINARY RESOLUTION 1 |
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Description |
PROPOSED JOINT VENTURE BETWEEN FORTUNE TAC SDN BHD AND LUSTER INDUSTRIES BHD. ("LUSTER") TO JOINTLY UNDERTAKE THE BUSINESS OF MANUFACTURING, SALES AND DISTRIBUTION OF GLOVES ("PROPOSED JOINT VENTURE") |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 41 | 0 |
No. of Shares | 656,707,577 | 0 |
% of Voted Shares | 100.0000 | 0.0000 |
Result | Accepted | |
2. ORDINARY RESOLUTION 2 |
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Description |
PROPOSED DIVERSIFICATION OF THE EXISTING PRINCIPAL ACTIVITIES OF LUSTER AND ITS SUBSIDIARIES TO INCLUDE MANUFACTURING, SALES AND DISTRIBUTION OF GLOVES ("PROPOSED DIVERSIFICATION") |
|
Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 41 | 0 |
No. of Shares | 656,707,577 | 0 |
% of Voted Shares | 100.0000 | 0.0000 |
Result | Accepted | |
3. ORDINARY RESOLUTION 3 |
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Description |
PROPOSED PRIVATE PLACEMENT OF 482,150,000 ORDINARY SHARES OF LUSTER ("SHARE(S)") ("PLACEMENT SHARE(S)"), REPRESENTING APPROXIMATELY 20% OF THE TOTAL ISSUED SHARES AT THE ISSUE PRICE OF RM0.125 PER PLACEMENT SHARE TO BE SATISFIED ENTIRELY VIA CASH ("PROPOSED PRIVATE PLACEMENT") |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 40 | 1 |
No. of Shares | 656,697,577 | 10,000 |
% of Voted Shares | 99.9985 | 0.0015 |
Result | Accepted | |
4. ORDINARY RESOLUTION 4 |
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Description |
PROPOSED PRIVATE PLACEMENT OF 44,000,000 PLACEMENT SHARES TO MR. LIANG WOOI GEE, A DIRECTOR OF LUSTER, AT THE ISSUE PRICE OF RM0.125 PER PLACEMENT SHARE TO BE SATISFIED ENTIRELY VIA CASH IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THE SUBSCRIPTION AGREEMENT DATED 19 OCTOBER 2020 PURSUANT TO THE PROPOSED PRIVATE PLACEMENT |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 35 | 3 |
No. of Shares | 634,994,720 | 1,440,000 |
% of Voted Shares | 99.7737 | 0.2263 |
Result | Accepted | |
5. ORDINARY RESOLUTION 5 |
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Description |
PROPOSED PRIVATE PLACEMENT OF 103,950,000 PLACEMENT SHARES TO MR. CHUAH CHONG EWE, A DIRECTOR OF LUSTER, AT THE ISSUE PRICE OF RM0.125 PER PLACEMENT SHARE TO BE SATISFIED ENTIRELY VIA CASH IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THE SUBSCRIPTION AGREEMENT DATED 19 OCTOBER 2020 PURSUANT TO THE PROPOSED PRIVATE PLACEMENT |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 37 | 3 |
No. of Shares | 582,672,577 | 1,440,000 |
% of Voted Shares | 99.7535 | 0.2465 |
Result | Accepted | |
6. ORDINARY RESOLUTION 6 |
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Description |
PROPOSED PRIVATE PLACEMENT OF 76,000,000 PLACEMENT SHARES TO MR. PHUAH CHENG PENG, A DIRECTOR OF LUSTER, AT THE ISSUE PRICE OF RM0.125 PER PLACEMENT SHARE TO BE SATISFIED ENTIRELY VIA CASH IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THE SUBSCRIPTION AGREEMENT DATED 19 OCTOBER 2020 PURSUANT TO THE PROPOSED PRIVATE PLACEMENT |
|
Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 36 | 3 |
No. of Shares | 507,153,077 | 1,440,000 |
% of Voted Shares | 99.7169 | 0.2831 |
Result | Accepted | |
7. ORDINARY RESOLUTION 7 |
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Description |
PROPOSED PRIVATE PLACEMENT OF 40,000,000 PLACEMENT SHARES TO MR. CHUAH CHONG SAN, A DIRECTOR OF LUSTER, AT THE ISSUE PRICE OF RM0.125 PER PLACEMENT SHARE TO BE SATISFIED ENTIRELY VIA CASH IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THE SUBSCRIPTION AGREEMENT DATED 19 OCTOBER 2020 PURSUANT TO THE PROPOSED PRIVATE PLACEMENT |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 37 | 3 |
No. of Shares | 653,567,577 | 1,440,000 |
% of Voted Shares | 99.7802 | 0.2198 |
Result | Accepted | |