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Multiple Proposals

BackJun 10, 2022

Type	Announcement
Subject	MULTIPLE PROPOSALS
Description	HUA YANG BERHAD ("HYB" OR THE "COMPANY") I. PROPOSED RIGHTS ISSUE WITH WARRANTS; AND II. PROPOSED EXEMPTION (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
On behalf of the Board of Directors of HYB (“Board”), UOB Kay Hian Securities (M) Sdn Bhd (“UOBKH”) wishes to announce that HYB intends to undertake the following proposals:- proposed renounceable rights issue of up to 88,000,000 new ordinary shares in HYB (“HYB Share(s)” or “Share(s)”) (“Rights Shares”) on the basis of 1 Rights Share for every 4 existing HYB Shares held, together with up to 88,000,000 free detachable warrants in HYB (“Warrant(s)”) on the basis of 1 Warrant for every 1 Rights Share subscribed by the entitled shareholders at an issue price and entitlement date to be determined and announced later (“Proposed Rights Issue with Warrants”); and proposed exemption under Paragraph 4.08(1)(b) of the Rules on Take-Overs, Mergers and Compulsory Acquisitions (“Rules”) to Heng Holdings Sdn Bhd (“HHSB”) and persons acting in concert with it (“PACs”), from the obligation to undertake a mandatory offer for the remaining HYB Shares and Warrants not already owned by them pursuant to the Proposed Rights Issue with Warrants (“Proposed Exemption”) (collectively referred to as the “Proposals”). Further details on the Proposals are set out in the attachment enclosed. This announcement is dated 10 June 2022.

Please refer attachment below.

Announcement Info

Company Name	HUA YANG BERHAD
Stock Name	HUAYANG
Date Announced	10 Jun 2022
Category	General Announcement for PLC
Reference Number	GA1-08062022-00011

Attachments

HYB_-_Announcement_(10_June_2022).pdf (Size: 614,468 bytes)