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The Star – LKL Unit Buys 12,21% Stake In Vizione For RM20mil Cash

KUALA LUMPUR: LKL International Bhd’s wholly-owned subsidiary LKL Advance
Metaltech Sdn Bhd (LKLAM) has acquired 250 million shares, representing a 12.21%
stake in Vizione Holdings Bhd for RM20mil cash.

In a filing with Bursa Malaysia, LKL said the acquisition was via the subscription of the
excess rights shares with free warrants issued pursuant to the renounceable rights issue
of new ordinary shares in Vizione (rights shares) on the basis of one rights share for
every one existing ordinary share held in Vizione, together with the free detachable
warrants on the basis of one warrant for every two rights shares subscribed for.
Pursuant to the subscription, LKLAM will also be issued with 125 million free Warrant E
of Vizione.

It said the subscription was funded through internally generated funds of the company.
LKL said the subscription was in line with Its business expansion and growth strategy.
“The subscription will provide an opportunity for the group to venture into manufacturing
of rubber gloves and condoms, which is complementary and synergistic to the group’s
existing business.

“The subscription enables the group to increase its product range and provide an
additional income stream for LKL,” it said.

March 7, 2022

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