OTHERS BOUSTEAD HEAVY INDUSTRIES CORPORATION BERHAD ("BHIC" OR "COMPANY") PROPOSED SELECTIVE CAPITAL REDUCTION AND REPAYMENT EXERCISE FOR THE ORDINARY SHARES IN BHIC ("BHIC SHARES") NOT OWNED BY BOUSTEAD HOLDINGS BERHAD; AND PROPOSED CAPITAL REDUCTION AND REPAYMENT EXERCISE FOR THE REDEEMABLE CONVERTIBLE PREFERENCE SHARES ("RCPS") CLASS A ("RCPS A") AND ISLAMIC RCPS CLASS A ("RCPS-i A"), PURSUANT TO SECTION 116 OF THE COMPANIES ACT 2016 ("ACT") (THE "PROPOSAL")
| BOUSTEAD HEAVY INDUSTRIES CORPORATION BHD |
| Type | Announcement |
| Subject | OTHERS |
| Description | BOUSTEAD HEAVY INDUSTRIES CORPORATION BERHAD ("BHIC" OR "COMPANY")
PROPOSED SELECTIVE CAPITAL REDUCTION AND REPAYMENT EXERCISE FOR THE ORDINARY SHARES IN BHIC ("BHIC SHARES") NOT OWNED BY BOUSTEAD HOLDINGS BERHAD; AND PROPOSED CAPITAL REDUCTION AND REPAYMENT EXERCISE FOR THE REDEEMABLE CONVERTIBLE PREFERENCE SHARES ("RCPS") CLASS A ("RCPS A") AND ISLAMIC RCPS CLASS A ("RCPS-i A"), PURSUANT TO SECTION 116 OF THE COMPANIES ACT 2016 ("ACT") (THE "PROPOSAL") |
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We refer to the announcement dated 10 February 2026 in relation to the Proposal. Unless otherwise defined, the abbreviations and definitions used in the earlier announcement in relation to the Proposal shall apply herein.
The Board wishes to announce that, in accordance with paragraph 3.06 of the Rules on Take-overs, Mergers and Compulsory Acquisitions, the Board (save for Dato’ Indera Ir. Dr. Hj. Ahmad Sabirin Arshad, Ahmad Farouk Bin Mohamed and Fahmy Bin Ismail, who are deemed interested in the Proposal (collectively referred to as the “Interested Directors”)), has appointed DWA Advisory Sdn Bhd to act as the Independent Adviser to provide comments, opinions, information and recommendation on the Proposal to the Board (save for the Interested Directors) and the disinterested shareholders of BHIC Shares and the holders of the RCPS A and RCPS-i A.
This announcement is dated 23 February 2026. |
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Announcement Info
| Company Name | BOUSTEAD HEAVY INDUSTRIES CORPORATION BHD |
| Stock Name | BHIC |
| Date Announced | 23 Feb 2026 |
| Category | General Announcement for PLC |
| Reference Number | GA1-23022026-00055 |