OTHERS ONE GLOVE GROUP BERHAD ("ONE GLOVE" OR THE "COMPANY") I. PROPOSED DEBT SETTLEMENT; AND II. PROPOSED AMENDMENTS (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
| ONE GLOVE GROUP BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | ONE GLOVE GROUP BERHAD ("ONE GLOVE" OR THE "COMPANY")
I. PROPOSED DEBT SETTLEMENT; AND
II. PROPOSED AMENDMENTS
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS") |
|
On behalf of the Board of Directors of One Glove ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce that the Company proposes to undertake the following:- i. a settlement of debts owing to ADA Capital Investments Limited ("ADA Capital"), the major shareholder of One Glove, amounting to RM45,840,000 via the issuance of 191,000,000 new redeemable convertible preference shares in One Glove ("RCPS") at the issue price of RM0.24 per RCPS ("Proposed Debt Settlement"); and ii. amendments to the Constitution of One Glove to facilitate the issuance of the RCPS under the Proposed Debt Settlement ("Proposed Amendments"). (The Proposed Debt Settlement and Proposed Amendments are collectively referred to as the "Proposals"). Please refer to the attachment for further details of the Proposals.
This announcement is dated 8 March 2024. |
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Please refer attachment below.
Announcement Info
| Company Name | ONE GLOVE GROUP BERHAD |
| Stock Name | ONEGLOVE |
| Date Announced | 08 Mar 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-08032024-00037 |