PRACTICE NOTE 17 / GUIDANCE NOTE 3 : REGULARISATION PLAN IDIMENSION CONSOLIDATED BHD
Type Announcement Subject PRACTICE NOTE 17 / GUIDANCE NOTE 3 REGULARISATION PLAN Description IDIMENSION CONSOLIDATED BHD ("ICB" OR "COMPANY")
PROPOSED REGULARISATION PLAN (Unless otherwise stated, all abbreviations used herein shall have the same meanings as those stated in the announcements dated 19 December 2019, 5 March 2020, 20 May 2020 and 30 March 2021 in relation to the Proposed Regularisation Plan)
We refer to the Company’s announcement dated 19 December 2019 and its subsequent announcements in relation to the Proposed Regularisation Plan.
On behalf of the Board, KAF IB wishes to announce that the SC had, vide its letter dated 30 November 2021, resolved to approve the resultant equity structure of EVD pursuant to the Proposed Regularisation Plan under the equity requirement for public listing companies, subject to the following conditions:-
1. EVD to allocate 12.5% of its enlarged number of issued shares to Bumiputera investors to be approved by Ministry of International Trade and Industry within one (1) year after registering profit or three (3) years after the implementation of the Proposed Regularisation Plan, whichever is earlier (“Compliance Date”);
2. EVD to submit to the SC a proposal to comply with equity condition stated in paragraph (i) above, at least six (6) months prior to the Compliance Date; and
3. EVD or KAF IB to inform the SC upon completion of the proposal.
Recently, MACC visited EVD HQ and talked to one of the co-founders. Anyone can provide further comment on this? I would like to have clarification on -- was this related or NOT related to EVD's business? And what was the action taken by the company/board in handling this event?
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