We refer to the announcements dated 28 December 2016, 26 January 2017, 17 February 2017, 2 March 2017, 3 March 2017, 8 March 2017 and 29 March 2017 ("Announcements"). Unless otherwise stated, abbreviations and definitions used throughout this announcement shall be the same as those in the Announcements.

IPS, on behalf of the Board, wishes to announce that Bursa Securities had, vide its letter dated 21 April 2017, resolved to approve the following:-

(i) listing and quotation of up to 7,300,000 new SCIB Shares to be issued pursuant to the Proposed CGSB Acquisition; and

(ii) listing and quotation of up to 36,397,125 new SCIB Shares to be issued pursuant to the Proposed Private Placement.

The approval by Bursa Securities for the above is subject to the following conditions:

(i) SCIB and IPS must fully comply with the relevant provisions under the MMLR pertaining to the implementation of the Proposed CGSB Acquisition and Proposed Private Placement; 

(ii) SCIB and IPS to inform Bursa Securities upon the completion of the Proposed CGSB Acquisition and Proposed Private Placement;

(iii) SCIB to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed CGSB Acquisition and Proposed Private Placement are completed;

(iv) SCIB to furnish Bursa Securities with a certified true copy of the resolution passed by the shareholders in general meeting approving the Proposed Private Placement;

(v) IPS to furnish Bursa Securities with details of the placees in accordance with Paragraph 6.15 of the MMLR as soon as practicable before the listing of the new SCIB Shares to be issued pursuant to the Proposed Private Placement; and

(vi) In the event the Proposed CGSB Acquisition is not completed before the next Annual General Meeting ("AGM") of SCIB, SCIB to furnish a certified true copy of the resolution passed by SCIB’s shareholders for a general mandate under Section 76 of the Companies Act, 2016 at SCIB's forthcoming AGM.

This announcement is dated 21 April 2017.

Announcement Info