[BINACOM] Extraordinary on 24-Sep-2021

Announcement Date
Date & Time
24-Sep-2021 11:00
Depositor Date
A fully virtual meeting via the online meeting platform at https://agm.omesti.com provided by Red Ape Solutions Sdn Bhd
Binasat Communications Berhad ("Binasat" or "Company") - Notice of Extraordinary General Meeting
EGM Notice and Admin Guide.pdf

The Board of Directors of Binasat Communications Berhad ("the Company") wishes to announce that all the resolutions set out in the Notice of the ExtraordinaryGeneral Meeting ("EGM") of the Company dated 7 September 2021 were duly passed by the shareholders of the Company at the EGM held today.

All the resolutions were voted by poll via remote participation and electronic voting and the results of the poll were validated by Quantegic Services Sdn Bhd, the Independent Scrutineerappointed by the Company.

The details of thepoll results are set out below.

This announcement is dated 24 September 2021.

Voting Results

1. Ordinary Resolution 1

Proposed Acquisition by Binasat of 255,000 Ordinary Shares in Borderless Connection Sdn. Bhd. ("BCSB"), representing 51% equity interest in BCSB from Nik Abdul Hakim Bin Abd Razak and Mohd Solehuddin Bin Yahya ("Vendors", collectively) for a purchase consideration of RM18,360,000 to be satisfied via a combination of RM5,360,000 in cash and RM13,000,000 via the issuance of 37,142,856 new ordinary shares in Binasat ("Binasat Shares" or "Shares") ("Consideration Shares") at an issue price of RM0.35 each  ("Proposed Acquisition")
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 30 1
No. of Shares 90,609,522 1,000
% of Voted Shares 99.9989 0.0011
Result Accepted

2. Ordinary Resolution 2

Proposed Diversification of the principal activities of Binasat and its subsidiaries to include provision of utilities infrastructure services including transmission and distribution network utility services as well as engineering, procurement, construction and commissioning ("EPCC") of Solar Photovoltaic ("PV") facilities ("Proposed Diversification")
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 31 0
No. of Shares 90,610,522 0
% of Voted Shares 100.0000 0.0000
Result Accepted

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