[SIAB] EGM on 01-Dec-2023

Stock
[SIAB]: SIAB HOLDINGS BERHAD
Announcement Date
15-Nov-2023
Reference No.
GMA-07112023-00003
Corporate Action ID
MY231107MEET0003
Type
EGM
Date & Time
01-Dec-2023 15:30
Depositor Date
24-Nov-2023
Venue
Broadcast Venue: Tricor Business Centre, Manuka 2&3 Meeting Room, Unit 29-01, Level 29 Tower A, Vertical Business Suite, Avenue 3, Bangsar South No. 8, Jalan Kerinchi, 59200 Kuala Lumpur
Description
Siab Holdings Berhad ("Siab") - Extraordinary General Meeting (to be conducted virtually through live streaming from the Broadcast Venue)
SIAB - Administrative Guide and Notice of EGM.pdf
Outcome

Siab Holdings Berhad ("the Company") is pleased to announce that all resolutions as set out in the Notice of the Extraordinary General Meeting (“EGM”) dated 16 November 2023 were duly passed at the Company's EGM held today.

The resolutions were voted by poll and the result of the poll was verified by Scrutineer Solutions Sdn Bhd, the Independent Scrutineer appointed by the Company.

The results of the poll are set out below.

This announcement is dated 1 December 2023.

Voting Results

1. Ordinary Resolution I

Description 
Proposed Private Placement of 100,000,000 new ordinary shares in Siab ("Share(s)" or "Siab Share(s)") representing approximately 20.42% of Siab's existing issued shares to independent third party investor(s) to be identified and at an issue price to be determined later
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 27 5
No. of Shares 318,828,508 11,205
% of Voted Shares 99.9965 0.0035
Result Accepted

2. Ordinary Resolution II

Description 
Renounceable Rights Issue of 766,524,307 new Siab Shares ("Rights Shares") together with 383,262,153 free detachable warrants ("Warrant(s)") on the basis of 13 Rights Shares for every 10 existing Siab Shares held on an entitlement date to be determined later together with 1 Warrant for every 2 Rights Shares subscribed
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 27 5
No. of Shares 318,828,508 11,205
% of Voted Shares 99.9965 0.0035
Result Accepted

3. Ordinary Resolution III

Description 
Proposed Acquisition of 2,000,000 ordinary shares in Taghill Projects Sdn Bhd ("Taghill") from Chu Yee Hong, Wong Yih Ming and Yap Kek Siung, representing 100.00% of the equity interest in Taghill, for a total purchase consideration of RM122,000,000 to be satisfied via a combination of RM96,000,000 in cash and RM26,000,000 through the issuance of 200,000,000 new Siab Shares at the issue price of RM0.1300 per share
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 29 3
No. of Shares 318,833,708 6,005
% of Voted Shares 99.9981 0.0019
Result Accepted

Remark
-
Market Buzz

2023-12-01

Meeting Outcome

Extraordinary General Meeting on 01-Dec-2023.

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