Cover Up Graft Factory Using Sugar

Protasco Bhd bonus issue approval on 7 October 2016 by Bursa Securities.

CoverJibEyes
Publish date: Tue, 11 Oct 2016, 05:53 PM
CoverJibEyes
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Here is one perfect example leaving the history of graft culture in Malaysia to the maximum extend. With MACC pretend to show Sabah fish is big, the real big whales are all here, the other side of Malaysia. Who are they taken ill-gotten money from the people of Malaysia? Many maybes, but one is surety. Which one?
Following Message
11 October 2016 - Construction and road maintenance company Protasco Bhd had announced on Bursa Malaysia today the approval letter from Bursa as at 7 October 2016 of its bonus issue of up to 84,962,172 new ordinary shares of RM0.50 each, to be credited as fully paid-up on the basis of one bonus share for every four existing Protasco shares held on the entitlement date to be determined later.
 
 
Investors would like to know the entitlement date, any EGM to be held, and when can they receive the bonus shares. Investors also would like the confirm the bonus issue is beyond Securities Commission reach and does not require Securities Commission approval. More announcement would be expected from Protasco Bhd in the short term.
 
Protasco Bhd today closed at RM1.57, up 1 sen.
 
 
Bursa Announcement Analysis
 
 
Original report at:
 
 
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5227369
 
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : BONUS ISSUES PROTASCO BERHAD ("PROTASCO" OR THE "COMPANY") PROPOSED BONUS ISSUE OF UP TO 84,962,172 NEW ORDINARY SHARES OF RM0.50 EACH IN PROTASCO ("PROTASCO SHARES") ("BONUS SHARES") TO BE CREDITED AS FULLY PAID-UP ON THE BASIS OF ONE BONUS SHARE FOR EVERY FOUR EXISTING PROTASCO SHARES HELD ON THE ENTITLEMENT DATE TO BE DETERMINED LATER ("PROPOSED BONUS ISSUE")
 
PROTASCO BERHAD
 
Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
BONUS ISSUES
Description PROTASCO BERHAD ("PROTASCO" OR THE "COMPANY")
 
PROPOSED BONUS ISSUE OF UP TO 84,962,172 NEW ORDINARY SHARES OF RM0.50 EACH IN PROTASCO ("PROTASCO SHARES") ("BONUS SHARES") TO BE CREDITED AS FULLY PAID-UP ON THE BASIS OF ONE BONUS SHARE FOR EVERY FOUR EXISTING PROTASCO SHARES HELD ON THE ENTITLEMENT DATE TO BE DETERMINED LATER ("PROPOSED BONUS ISSUE")
Unless otherwise defined, the abbreviations and definitions used in the announcements of the Company dated 30 August 2016 and 27 September 2016 (“Announcements”) shall apply herein. 
 
We refer to the Announcements in relation to the Proposed Bonus Issue. 
 
On behalf of the Board, RHB Investment Bank wishes to announce that Bursa Securities has, vide its letter dated 7 October 2016, approved the listing of 84,962,172 Bonus Shares, subject to the following conditions: 
 
(i)           Protasco and RHB Investment Bank must fully comply with the relevant provisions under the Main Market Listing Requirements of Bursa Securities (“Listing Requirements”) pertaining to the implementation of the Proposed Bonus Issue;
 
(ii)          Protasco and RHB Investment Bank to inform Bursa Securities upon the completion of the Proposed Bonus Issue;
 
(iii)         Protasco to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposed Bonus Issue is completed;
 
(iv)         Protasco and RHB Investment Bank are required to make the relevant announcements pursuant to Paragraphs 6.35(2)(a) and (b) and 6.35(4) of the Listing Requirements; and
 
(v)          Protasco to furnish Bursa Securities with a certified true copy of the resolution passed by the shareholders in general meeting.
 
This announcement is dated 10 October 2016.
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