PETALING JAYA: Marine transportation and offshore storage firm EA Technique
(M) Bhd (EATech) has received shareholders’ approval at an EGM for its proposed regularisation plan.
In a statement, EATech said the approval marks a pivotal step in the company’s efforts to regularise its financial status after being classified as a Practise Note 17 company for over two years.
EATech said the regularisation plan involves the proposed issuance of up to 795,75 million new ordinary shares and the exemption for Datuk Mubarak Hussain Akhtar Husin and Voultier Sdn Bhd (VSB) from the obligation to undertake a mandatory takeover offer.
“The proposed share issuance will raise RM79.6mil for the company, representing approximately 60% of the enlarged share capital.”
