Company Name: KOBAY TECHNOLOGY BERHAD
Stock Name: KOBAY
Date Announced: 05 Jan 2021
Category: General Announcement for PLC
Reference Number: GA1-05012021-00026
Subject: MULTIPLE PROPOSALS
Description:
KOBAY TECHNOLOGY BHD (“KOBAY” OR THE “COMPANY”)
I. PROPOSED EXEMPTION; AND
II. PROPOSED BONUS ISSUE OF SHARES
(COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)
On behalf of the Board of Directors of Kobay, RHB Investment Bank Berhad wishes to announce that the Company proposes to undertake the following:
i. an exemption under Paragraph 4.15(1) of the Rules of Take-overs, Mergers and Compulsory Acquisitions to Kobay Holdings Sdn Bhd and persons acting in concert with it from the obligation to undertake a mandatory take-over offer for all the remaining ordinary shares in Kobay (“Kobay Shares” or “Shares”) not already owned by them arising from the purchase by Kobay of its own Shares pursuant to its share buy-back authority (“Proposed Exemption”); and
ii. an issuance of 204,187,202 new Kobay Shares (“Bonus Shares”) on the basis of two (2) Bonus Shares for every one (1) existing Kobay Share held on an entitlement date to be determined and announced later (“Proposed Bonus Issue of Shares”).
Further details of the Proposals are set out in the attachment below.
This announcement is dated 5 January 2021.
Attachments :
KOBAY – Announcement (Proposals) 5.1.2021.pdf