Explanation of the corporate events: User Manual
Corporate Updates - Bursa Malaysia
2024-11-13
Category: Corporate Updates
Frequency: Daily
Daily compilation of corporate updates and activities on Bursa Malaysia listed companies.
| Date | Company | Major Action | Recent Events |
|---|---|---|---|
| 21 Oct, 2024 | Khee San Bhd | Shareholders have approved the company's regularisation plan to exit Practice Note 17 (PN17) status. The regularisation plan includes a proposed rights issue with warrants, a scheme of arrangement with creditors, a share capital reduction and the establishment of an employee share scheme (ESS) of up to 15% of its share base for eligible directors and employees. The rights issue involves the issuance of up to 960.96 million shares and up to 549.12 million warrants on the basis of four warrants for every seven right shares subscribed. With the rights shares priced at 10 sen each, the exercise is expected to raise between RM65 million on a minimum subscription basis and RM96.1 million under a maximum scenario. From the amount raised, RM51.2 million will be allocated to settling amounts owed to scheme creditors. In addition, Khee San will also undertake a RM137.52 million capital reduction to its share capital. | Restructuring |
| 5 Apr, 2022 | Khee San Bhd | Entered into two distribution agreements which include a deal with pharmaceutical product manufacturer Jardin Pharma Bhd, from which Khee San Marketing secured the exclusive right to distribute Jardin Pharma's products for two years | Business Venture |
| 2 Dec, 2019 | Khee San Bhd | Private placement of 45.11% of enlarged shares to Mamee-Double Decker (M) Sdn Bhd @RM 0.25 per share | Restructuring |
| 11 Sep, 2019 | Khee San Bhd | Proposed to acquire 4 distribution companies from Wah Kong Corporation Sdn Bhd. The companies are involve in the distribution of various FMCG brand involving confectionery, healthcare, cereal, beverage and pet food products. The acquiree comes with a profit guarantee of RM 6 million in the year 2020. Purchase will be done via share issuance, hence an RTO from Wah Kong Corp | Merger & Acquisition |
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