KUALA LUMPUR (June 1): Reservoir Link Energy Bhd (RLEB) announced that the Securities Commission has approved its application to transfer its listing status to the Main Market of Bursa Malaysia from the ACE Market.
In compliance with the Main Market Listing Requirements of Bursa Securities, additional information on the company is set out in an enclosed attachment stating that as at May 31, 2022, the share capital of RLEB is RM47.97 million, comprising 290.45 million shares, RLEB said in a filing with Bursa Malaysia on Wednesday.
“Additionally, 12.71 million shares have been approved for issuance, listing and quotation, as part consideration to Lee Seng Chi, as the vendor, pursuant to the acquisition of Founder Energy Sdn Bhd (FESB)(consideration shares).
“The issuance of the consideration shares is subject to FESB achieving a profit after tax of RM13.84 million for the agreed period of 24 months from Sept 1, 2021, based on the terms of the conditional share sale agreement dated June 11, 2021,” RLEB said.
The energy-related services provider also stated that its market capitalisation stood at RM107.46 million based on the 5-day volume-weighted average price of RLEB shares of RM0.37 per share.
RLEB was listed on the ACE Market of Bursa Securities since its admission on July 15, 2020.