[ADVCON] Extraordinary on 26-Oct-2021

Stock
[ADVCON]: ADVANCECON HOLDINGS BERHAD
Announcement Date
08-Oct-2021
Type
Extraordinary
Date & Time
26-Oct-2021 10:00
Depositor Date
18-Oct-2021
Venue
Online Meeting Platform of TIIH Online provided by Tricor Investor & Issuing House Services Sdn Bhd via Remote Participation and Electronic Voting facilities at https://tiih.online in
Description
Notice of the Extraordinary General Meeting which will be conducted entirely on a fully virtual basis through live streaming online meeting platform
Advancecon_Notice EGM with Admin Guide.pdf
Outcome

The Board of Directors of Advancecon Holdings Berhad (“Advancecon” or “Company”) wishes to announce that all the resolutions set out in the Notice of the Extraordinary General Meeting ("EGM") of the Company dated 11 October 2021 were duly passed by the shareholders of the Company by way of poll using online meeting platform of TIIH Online via its website at https://tiih.online at the EGM held on 26 October 2021.

The results of the poll were validated by Asia Securities Sdn Berhad, the Independent Scrutineer appointed by the Company.

This announcement is dated 26 October2021.

Voting Results

1. Ordinary Resolution 1

Description 
Proposed Acquisition by Advancecon of 260,100,006 ordinary shares in Spring Energy Resources Berhad ("SERB"), representing 51% equity interest from Fook Hua Holdings Sdn Bhd ("FHHSB" or the "Vendor") for a total purchase consideration of RM30,400,000 to be satisfied via a combination of cash payment of RM15,220,000 and issuance of 33,000,000 new ordinary shares of Advancecon ("consideration share(s)" or "share(s)") at the issue price of RM0.46 per consideration share ("Proposed Acquisition")
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 46 3
No. of Shares 67,510,377 80,000
% of Voted Shares 99.8816 0.1184
Result Accepted

2. Ordinary Resolution 2

Description 
Proposed Diversification of the existing principal activities of Advancecon and its subsidiaries to include Quarry Operation and related activities ("Proposed Diversification")
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 45 4
No. of Shares 67,515,367 75,010
% of Voted Shares 99.8890 0.1110
Result Accepted

Remark
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