| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | SINOTOP HOLDINGS BERHAD ("SINOTOP" OR THE "COMPANY") PROPOSED ACQUISITION BY SINOTOP OF 51% EQUITY INTEREST IN TELEVISION AIRTIME SERVICES SDN BHD ("TAS") ("PROPOSED SHARES ACQUISITION") |
We refer to the announcements dated 23 April 2020, 28 April 2020 5 May 2020 and 8 May 2020 in relation to the Proposed Shares Acquisition (“Announcements”). Unless stated otherwise, definitions used in this announcement shall carry the same meanings as defined in the Announcements.
On behalf of the Board, KAF Investment Bank Berhad (“KAF IB”) and Astramina Advisory Sdn Bhd wish to announce that Bursa Securities had, vide its letter dated 14 May 2020, resolved to approve the listing and quotation of 38,461,538 Consideration Shares to be issued pursuant to the Proposed Shares Acquisition, subject to the following conditions:-
(i) Sinotop and KAF IB must fully comply with the relevant provisions under the MMLR pertaining to the implementation of the Proposed Shares Acquisition;
(ii) Sinotop to comply with 25% public shareholding spread requirements pursuant to Paragraph 8.02(1) of the MMLR;
(iii) KAF IB to inform Bursa Securities upon the completion of the Proposed Shares Acquisition;
(iv) KAF IB to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Shares Acquisition is completed; and
(v) Sinotop to furnish Bursa Securities with a certified true copy of the resolution passed pursuant to Sections 75 and 76 of the Companies Act, 2016, in the event the existing authority has expired prior to the full implementation of the Proposed Shares Acquisition.
This announcement is dated 14 May 2020.
| Company Name | SINOTOP HOLDINGS BERHAD |
| Stock Name | SINOTOP |
| Date Announced | 14 May 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-14052020-00107 |