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(i) Bank borrowings RM 10.5 million
(ii) Internally generated funds RM 1.9 million
(iii) Combination of proceeds arising from the exercise of the Company’s warrants, directors’ advances and/or fund raising exercise to be determined before the completion of the Proposed Acquisition RM 9.6 million
(i) proposed diversification of the existing business of ATS and its subsidiaries to include the gloves business (“Proposed Diversification”); and
(ii) proposed private placement of up to 795,924,000 new ordinary shares in ATS, representing 30% of the total number of issued shares of the Company, to independent third-party investor(s) to be identified later at an issue price to be determined later (“Proposed Private Placement”)
AT Systematization Berhad (“ATS” or the “Company”) is pleased to announce that its wholly owned subsidiary, AT Glove Engineering Sdn. Bhd. (“AGESB”) has on 10 August 2020 entered into a supply contract with Ripcol Engineering Sdn. Bhd. (Company No. (201501003548 (1128880-M)) (“RESB”) to engage RESB as AGESB’s contractor for the design, fabrication, installation, testing and commissioning a total of 6 production lines (“Works”) (“Letter of Award”). The Works include the setting up of 1 single former dipping line and 5 double former dipping line for the production of medical gloves (“Products”) (“Proposed Medical Glove Lines”).
