Velesto Energy Bhd

09/24/2019 | Press release | Distributed by Public on 09/24/2019 04:10

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : ESOS VELESTO ENERGY BERHAD ('VEB' OR THE 'COMPANY') PROPOSED ESTABLISHMENT OF AN EMPLOYEES' SHARE OPTION SCHEME OF[...]

Bursa Announcements

Date : 24 September 2019

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : ESOS VELESTO ENERGY BERHAD ('VEB' OR THE 'COMPANY') PROPOSED ESTABLISHMENT OF AN EMPLOYEES' SHARE OPTION SCHEME OF UP TO 7.5% OF THE TOTAL NUMBER OF ISSUED SHARES OF VEB (EXCLUDING TREASURY SHARES, IF ANY) AT ANY POINT IN TIME

VELESTO ENERGY BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
ESOS
Description
VELESTO ENERGY BERHAD ('VEB' OR THE 'COMPANY')

PROPOSED ESTABLISHMENT OF AN EMPLOYEES' SHARE OPTION SCHEME OF UP TO 7.5% OF THE TOTAL NUMBER OF ISSUED SHARES OF VEB (EXCLUDING TREASURY SHARES, IF ANY) AT ANY POINT IN TIME

The terms used herein shall have the same meaning as those defined in the announcement dated 30 August 2019, unless otherwise stated.

We refer to the announcements dated 30 August 2019 and 20 September 2019 in relation to the Proposed ESOS.

On behalf of the Board of Directors of VEB, Affin Hwang IB is pleased to announce that Bursa Securities, vide its letter dated 24 September 2019, has resolved to approve the listing of such number of new VEB Shares, representing up to 7.5% of the total number of issued shares of VEB, to be issued pursuant to the Proposed ESOS, subject to the following conditions:

1. Affin Hwang IB is required to submit a confirmation to Bursa Securities of full compliance of the Proposed ESOS pursuant to Paragraph 6.43(1) of the Listing Requirements and state the effective date of implementation together with a certified true copy of the resolution passed by the shareholders in general meeting approving the Proposed ESOS; and

2. VEB is required to furnish Bursa Securities on a quarterly basis a summary of the total number of new VEB Shares listed pursuant to the issuance of new VEB Shares under the Proposed ESOS as at the end of each quarter together with a detailed computation of listing fees payable.

This announcement is dated 24 September 2019.




Announcement Info

Company Name VELESTO ENERGY BERHAD
Stock Name VELESTO
Date Announced 24 Sep 2019
Category General Announcement for PLC
Reference Number GA1-24092019-00050