Wonderful this vax also can be used as a therapueutic to treat a patient already infected with corvid n the patient can be vaxed n still benefit ..? double bonuses.
Proposed settlement of the outstanding debt owing by Optimal Property Management Sdn Bhd ("OPM"), a wholly-owned subsidiary of BKCB of RM23,397,091.37 to Handal Jayabina Sdn Bhd via the issuance and allotment of 31,800,000 new ordinary shares in BKCB, 28,500 new ordinary shares in OPM and cash payments amounting to RM886,091 ("Proposed Debt Settlement")
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : OTHER ISSUE OF SECURITIES PROPOSED DEBT SETTLEMENT
We refer to the Company’s announcements on 21 October 2020, 19 November 2020, 14 December 2020, 15 December 2020 and 30 December 2020 in relation to the Proposed Debt Settlement.
The Board wishes to announce that BKCB, OPM and Handal (collectively, the “Parties”) have mutually agreed to waive one of the conditions precedent under the Debt Settlement Agreement in relation to the approval to be obtained from MBSB Bank Berhad, which have granted an Islamic term loan facility to OPM, prior to the allotment and issuance of the 28,500 new OPM Shares to Handal (“Waiver”). The Waiver is aimed at facilitating and expediting the timely completion of the Proposed Debt Settlement.
In view of the Waiver, the Parties further agreed for a cash settlement of RM2.0 million to be made in place of the said issuance of 28,500 new OPM Shares for the settlement of RM2.0 million of the Outstanding Debt. The said cash settlement shall be made in 24 equal monthly instalments commencing from the unconditional date of the Debt Settlement Agreement in accordance with the terms of the Debt Settlement Agreement and shall be funded via the Group’s internally generated funds. For information, OPM will remain as a 100%-owned subsidiary of BKCB upon the completion of the Proposed Debt Settlement.
The Board hereby wishes to announce that following the Waiver, all the Conditions Precedent under the Debt Settlement Agreement have been fulfilled on 5 January 2021 and accordingly, the Debt Settlement Agreement has become unconditional on even date.
The Proposed Debt Settlement is currently pending completion.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
paulthesotong
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Posted by paulthesotong > 2021-01-03 22:20 | Report Abuse
Fantastic release PR on its update Corvid 19 Complete Vax