Proposed subscription for 225,451 new fully paid up ordinary shares in Pingspace Sdn Bhd ("Pingspace") by Pentamaster Innoteq Sdn Bhd ("PISB"), a wholly owned subsidiary of Pentamaster Corporation Berhad ("PCB") representing 6.8% of the total enlarged issued shares in Pingspace for a total consideration of RM5,000,000 ("Proposed Investment")
BackJul 14, 2022
Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-13072022-00002
Subject Proposed subscription for 225,451 new fully paid up ordinary shares in Pingspace Sdn Bhd ("Pingspace") by Pentamaster Innoteq Sdn Bhd ("PISB"), a wholly owned subsidiary of Pentamaster Corporation Berhad ("PCB") representing 6.8% of the total enlarged issued shares in Pingspace for a total consideration of RM5,000,000 ("Proposed Investment")
Description

Proposed subscription for 225,451 new fully paid up ordinary shares in Pingspace Sdn Bhd ("Pingspace") by Pentamaster Innoteq Sdn Bhd ("PISB"), a wholly owned subsidiaryof Pentamaster Corporation Berhad ("PCB") representing 6.8% of the total enlarged issued shares in Pingspace for a total consideration of RM5,000,000 ("Proposed Investment")

Query Letter Contents

We refer to your Company's announcement dated 8 July 2022 in respect of the aforesaid matter.

In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1. The net profits and net assets of Pingspace based on its latest audited accounts.

2. The breakdown of sources of funding by PCB/PISB for the Proposed Subscription Consideration between internally generated funds and proceeds raised from PIL Listing Proceeds.

3. The prospects of Pingspace.

4. The name of the independent registered valuer which conducted the valuation on Pingspace, date and method of valuation.

5. A statement setting out the following:

(a) whether the audit committee of PCB is of the view that the Proposed Subscription is -

(i) in the best interest of PCB;

(ii) fair, reasonable and on normal commercial terms; and

(iii) not detrimental to the interest of the minority shareholders, together with the basis for its views;

(b) where the audit committee has sought an independent advice in forming its views, a statement to that effect; and

(c) where the views of the audit committee are different from the opinion of the independent adviser, if any, the reasons for the difference.

6) The total amount transacted with the Mr Chuah Choon Bin and/or Mr Chuah Di Ken for the preceding 12 months.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully,
LISTING

REGULATION

Cc : Market Surveillance Dept., Securities Commission (via email)

With reference to Bursa Malaysia Securities Berhad's letter dated 13 July 2022 in relation to the Company's announcement on the Proposed Investment dated 8 July 2022 ("Announcement"), the Company wishes to provide the following additional information.

Please refer to the attached for the details.

This announcement is dated 14 July 2022.

Announcement Info
Company Name PENTAMASTER CORPORATION BERHAD
Stock Name PENTA
Date Announced 14 Jul 2022
Category General Announcement for PLC
Reference Number GA1-14072022-00011

Attachments

  1. PCB_Reply_query_220714.pdf (Size: 140,653 bytes)

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Pentamaster Corporation Bhd published this content on 14 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 July 2022 02:53:03 UTC.