MULTIPLE PROPOSALS BINASTRA CORPORATION BERHAD ("BINASTRA" 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")

BINASTRA CORPORATION BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description 
BINASTRA CORPORATION BERHAD ("BINASTRA" 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, 8 December 2023, 30 January 2024, 13 March 2024, 25 March 2024, 3 April 2024, 9 April 2024, 6 May 2024 and 13 May 2024 (“Announcements”) and the Company’s circular to shareholders dated 8 February 2024 (“Circular”) in relation to the Proposals. Unless otherwise defined, the definitions set out in the Announcements and Circular shall apply herein.

On behalf of the Board, AmInvestment Bank wishes to announce that the Board has on 14 May 2024 (“Price Fixing Date”) fixed the issue price for up to 45,250,000 Placement Shares to be issued pursuant to the Proposed Private Placement at RM1.52 per Placement Share (“Issue Price”).

The Issue Price represents a discount of approximately RM0.1340 or approximately 8.10% to the 5-day volume weighted average market price of Binastra Shares up to and including 13 May 2024, being the last market day immediately preceding the Price Fixing Date, of RM1.6540 per Binastra Share.

This announcement is dated 14 May 2024.



Announcement Info

Company Name BINASTRA CORPORATION BERHAD
Stock Name BNASTRA
Date Announced 14 May 2024
Category General Announcement for PLC
Reference Number GA1-14052024-00030