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BRIEF-PDZ Holdings Proposes Diversification Of Business To Include Sale Of Gloves

PUBLISHED: Tue, 23 Mar 2021 11:07:51 GMT

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March 23 (Reuters) – Pdz Holdings Bhd:

* PROPOSES DIVERSIFICATION OF BUSINESS TO INCLUDE MANUFACTURE, SALE AND MARKETING OF GLOVES AND OTHER RELATED ACTIVITIES

* PROPOSED CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN PDZ INTO 1 SHARE

* PLANS TO ACQUIRE, INSTALL AND COMMISSION UP TO 4 DOUBLE FORMER GLOVE-DIPPING LINES

* PROPOSED RENOUNCEABLE RIGHTS ISSUE OF UP TO 797.7 MILLION NEW SHARES ON BASIS OF 6 RIGHTS SHARES FOR EVERY 1 CONSOLIDATED SHARE HELD

* INTENDS TO USE PROCEEDS OF UP TO 25 MILLION RGT TO BUY A NEW FACTORY BUILDING IN KULAI

* PDZ HOLDINGS-INTEND TO EXPORT RUBBER GLOVES TO NATIONS WITH HIGH COVID-19 INFECTION RATES SUCH AS US, EUROPEAN COUNTRIES, AFRICA, SOUTH AMERICA, INDIA

* FOR EXPORT OF GLOVES TO EUROPEAN REGION, CO INTENDS TO OBTAIN CE MARKING CERTIFICATION (TYPICALLY RECOGNISED IN EUROPEAN REGION)

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* FOR EXPORT OF GLOVES TO U.S. REGION, CO INTENDS TO OBTAIN FOOD & DRUG ADMINISTRATION (FDA) CERTIFICATION Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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