Azam Jaya Berhad (“Azam Jaya” or “the Company”) is pleased to provide an update on its previously announced proposals dated 15 May 2026, which include:
- Proposed Private Placement
- Proposed Employees’ Share Option Scheme (ESOS)
Bursa Securities Approval
On 23 June 2026, Bursa Malaysia Securities Berhad (“Bursa Securities”) approved:
- The listing and quotation of up to 100 million new shares under the proposed private placement.
- The issuance of new shares under the ESOS, representing up to 10% of the Company’s total issued shares (excluding treasury shares, if any).
Key Conditions of Approval
The approval is subject to several requirements, including:
- Submission of details of proposed investors (placees) to Bursa Securities for clearance.
- Provision of certified shareholder approvals obtained at the Extraordinary General Meeting (EGM).
- Full compliance with Bursa Securities’ Listing Requirements for both proposals.
- Notification to Bursa Securities upon completion of the private placement.
- Confirmation from Berjaya Securities that all approval conditions have been met.
- Compliance confirmation and implementation details for the ESOS.
- Quarterly reporting by Azam Jaya on shares issued under the ESOS and related listing fees.
- Payment of any applicable additional listing fees.
- Incorporation of Bursa Securities’ comments into the shareholder circular.
Next Steps
Azam Jaya and its adviser, Berjaya Securities, will proceed with implementing the proposals in accordance with Bursa Securities’ requirements.