MULTIPLE PROPOSALS COMINTEL CORPORATION BHD ("COMINTEL" OR "COMPANY") (I) PROPOSED ACQUISITION; (II) PROPOSED RIGHTS ISSUE; (III) PROPOSED PRIVATE PLACEMENT; (IV) PROPOSED ESTABLISHMENT OF A NEW EXECUTIVES SHARE SCHEME; (V) PROPOSED BONUS ISSUE; AND (VI) PROPOSED CHANGE OF NAME (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

COMINTEL CORPORATION BHD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
COMINTEL CORPORATION BHD ("COMINTEL" OR "COMPANY")

(I)	PROPOSED ACQUISITION;
(II)	PROPOSED RIGHTS ISSUE;
(III)	PROPOSED PRIVATE PLACEMENT;
(IV)	PROPOSED ESTABLISHMENT OF A NEW EXECUTIVES SHARE SCHEME;
(V)	PROPOSED BONUS ISSUE; AND
(VI)	PROPOSED CHANGE OF NAME

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

(Reference is made to the announcements dated 6 December 2023, 7 December 2023 and 8 December 2023 in relation to the Proposals (“Announcements”). Unless otherwise defined in this announcement, all terms used herein shall have the same meaning as those defined in the Announcements.)

On behalf of the Board, AmInvestment Bank is pleased to announce that Bursa Securities had vide its letter dated 29 January 2024, resolved to approve the listing of and quotation for:

1. 45,250,000 Rights Shares to be issued pursuant to the Proposed Rights Issue;

2. up to 45,250,000 Placement Shares to be issued pursuant to the Proposed Private Placement;

3. up to 543,000,000 Bonus Shares to be issued pursuant to the Proposed Bonus Issue; and

4. up to 10% of the total issued Comintel Shares to be issued pursuant to the Proposed ESS.

The approval by Bursa Securities is subject to the following conditions:

1. Comintel and AmInvestment Bank must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the respective Proposals;

2. AmInvestment Bank to inform Bursa Securities upon the completion of the respective Proposals;

3. AmInvestment Bank to furnish to Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the respective Proposals are completed;

4. Comintel / AmInvestment Bank is required to furnish Bursa Securities with certified true copy of the resolutions passed by the shareholders at the forthcoming general meeting for the respective Proposals prior to the listing and quotation of the shares;

5. Comintel / AmInvestment Bank is required to make the relevant announcements pursuant to Paragraphs 6.35(2)(a)&(b) and 6.35(4) of the Listing Requirements pursuant to the Proposed Bonus Issue;

6. AmInvestment Bank is required to submit a confirmation to Bursa Securities of full compliance of the Proposed ESS pursuant to Paragraph 6.43(1) of the Listing Requirements and stating the effective date of implementation, together with the following;

(i) A certified true copy of the resolution passed by the shareholders in general meeting approving the Proposed ESS; and

(ii) Letter of compliance in relation to the By-Laws pursuant to Paragraph 2.12 of the Listing Requirements together with a copy of the final By-Laws; and

7. Comintel is required to furnish to Bursa Securities on a quarterly basis a summary of the total number of Shares listed pursuant to the Proposed ESS as at the end of each quarter together with a detailed computation of listing fees payable.

This announcement is dated 30 January 2024.






Announcement Info

Company Name COMINTEL CORPORATION BHD
Stock Name COMCORP
Date Announced 30 Jan 2024
Category General Announcement for PLC
Reference Number GA1-29012024-00082