MULTIPLE PROPOSALS BINASTRA CORPORATION BERHAD ("BINASTRA" OR "COMPANY") (FORMERLY KNOWN AS COMINTEL CORPORATION BHD) (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")

BINASTRA CORPORATION BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description 
BINASTRA CORPORATION BERHAD ("BINASTRA" OR "COMPANY") (FORMERLY KNOWN AS COMINTEL CORPORATION BHD)

(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, 8 December 2023, 30 January 2024 and 13 March 2024 (“Announcements”) and the Company’s circular to shareholders dated 8 February 2024 (“Circular”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

On behalf of the Board, AmInvestment Bank wishes to announce that Binastra had on 25 March 2024, entered into an underwriting agreement with AmInvestment Bank for the underwriting of 12,966,148 Rights Shares, amounting to approximately RM10.37 million, representing approximately 28.7% of the total number of 45,250,000 Rights Shares available for subscription.

The 12,966,148 Rights Shares underwritten by AmInvestment Bank was arrived at after taking into consideration that the Undertaking Shareholders had provided their irrevocable written undertakings to subscribe for their respective entitlements of the Rights Shares of RM25.83 million and the full subscription basis of RM36.20 million for the Rights Issue.

This announcement is dated 25 March 2024.



Announcement Info

Company Name BINASTRA CORPORATION BERHAD
Stock Name BNASTRA
Date Announced 25 Mar 2024
Category General Announcement for PLC
Reference Number GA1-22032024-00045