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Status of Corporate Proposals
Pre-IPO Exercise
As part of the IPO reorganisation, the Company had on 11 November 2019 entered into 2
conditional share sale agreements (“SSAs”) to acquire the entire issued share capital of Hayan
Prints (M) Sdn Bhd (“Hayan Prints”) and Hayan Packaging Sdn Bhd (“Hayan Packaging”)
respectively (“Acquisitions”) via issuance of shares as detailed below:
Company Number of shares issued
Hayan Prints 269,755,000 share, RM 53,951,000
Hayan Packaging 30,005,000 shares, RM 6,001,000
Total 299,760,000 shares, RM 59,952,000
The SSAs were supplemented by a letter dated 7 August 2020 to the vendors of Hayan Prints
and Hayan Packaging, respectively to extend the conditional period to 31 January 2021 to fulfil
the conditions precedent for the SSAs. Subsequently, the SSAs were completed on 30
November 2020.
IPO
On 29 November 2019, the Company submitted the relevant applications to the Securities
Commission Malaysia (“SC”) and Bursa Securities in relation to the proposed initial public
offering of 88,669,000 ordinary shares of the Company (“IPO”), and the proposed listing of and
quotation for the entire enlarged issued share capital of the Company on the ACE Market of
Bursa Securities (“Listing”). The total enlarged issued share capital of the Company
subsequent to the IPO will be 388,430,000 ordinary shares.