PROPOSED ISSUANCE AND ALLOTMENT OF NEW ORDINARY SHARES BY PAN INTERNATIONAL ELECTRONICS (THAILAND) COMPANY LIMITED., A 99.99% OWNED SUBSIDIARY OF THE COMPANY, TO PAN-INTERNATIONAL INDUSTRIAL CORPORATION, THE HOLDING COMPANY OF THE COMPANY FOR A SUBSCRIPTION SUM OF THB204,545,000.00 (EQUIVALENT TO RM27,143,121.50).
Created: 29 November 2023
Type: Announcement
Subject: Others
Description: PROPOSED ISSUANCE AND ALLOTMENT OF NEW ORDINARY SHARES BY PAN INTERNATIONAL ELECTRONICS (THAILAND) COMPANY LIMITED., A 99.99% OWNED SUBSIDIARY OF THE COMPANY, TO PAN-INTERNATIONAL INDUSTRIAL CORPORATION, THE HOLDING COMPANY OF THE COMPANY FOR A SUBSCRIPTION SUM OF THB204,545,000.00 (EQUIVALENT TO RM27,143,121.50).
The Board of Directors of P.I.E. Industrial Berhad (“PIB” or “the Company”) wishes to inform that the Company is proposing to undertake the proposed issuance and allotment of new ordinary shares by Pan International Electronics (Thailand) Company Limited, a 99.99% owned subsidiary of the Company, to Pan-International Industrial Corporation, the holding Company of the Company for a subscription sum of THB204,545,000 (equivalent to RM27,143,121.50). (“Proposed Shares Allotment”)
The abovementioned Proposed Shares Allotment will be tabled for the Shareholders’ consideration at the forthcoming Extraordinary General Meeting.
Please refer to the attachment for further details.
This announcement is dated 29 November 2023.