The Board of Directors of K. Seng Seng Corporation Berhad (“the Company”) is pleased to announce that all theresolutionsas set out in the Notice of Extraordinary General Meeting ("EGM") dated 28 May 2024 were duly passed at the EGM held earlier today.
The resolutions were decided by way of poll voting. The results of the poll were validated by Aegis Communication Sdn. Bhd., the Independent Scrutineers appointed by the Company.
This announcement is dated 11 June 2024.
Voting Results |
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1. Ordinary resolution 1 |
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Description |
Proposed acquisition of 1,104,000 ordinary shares in Metalmach Micro Technology Sdn Bhd ("Metalmach"), representing 40% equiity interest in Metalmach for a cash consideration of RM14.00 million ("Proposed Acquisition") |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 21 | 3 |
No. of Shares | 75,485,688 | 107 |
% of Voted Shares | 99.9999 | 0.0001 |
Result | Accepted | |
2. Ordinary resolution 2 |
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Description |
Proposed diversification of the existing business of KSSC to include the manufacturing of high precision metal products ("Proposed Diversification") |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 21 | 3 |
No. of Shares | 75,485,688 | 107 |
% of Voted Shares | 99.9999 | 0.0001 |
Result | Accepted | |
3. Ordinary resolution 3 |
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Description |
Proposed private placement of up to 55,739,900 new ordinary shares in KSSC, representing not more than 30% of the issued ordinary shares of KSSC (assuming full exercise of its outstanding warrants) ("Proposed Private Placement") |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 21 | 3 |
No. of Shares | 75,485,688 | 107 |
% of Voted Shares | 99.9999 | 0.0001 |
Result | Accepted | |