On behalf of the Board of Directors of Binasat ("Board"), TA Securities Holdings Berhad ("TA Securities") wishes to announce that the Company proposes to undertake the following:
(i) proposed private placement of up to 60,428,500 new ordinary shares in Binasat ("Binasat Share(s)" or "Share(s)") ("Placement Share(s)"), representing not more than 10% of the total number of issued Shares (excluding treasury shares, if any) pursuant to Sections 75 and 76 of the Companies Act 2016 ("Act") to third party investor(s) at an issue price to be determined later ("Proposed Private Placement"); and
(ii) proposed variation to the utilisation of proceeds raised from the private placement of 128,137,500 Shares which was announced on 4 December 2024 and completed on 11 September 2025 ("Private Placement 2024") and issuance of Shares pursuant to the acquisitions by Binasat Properties Sdn Bhd (currently known as Legacy Core Sdn Bhd) ("BPSB"), formerly a wholly-owned subsidiary of the Company, of 241 units of fully furnished proposed hotel suites located on the 8th to 17th floors of a commercial building developed by Cosmopolitan Avenue Sdn Bhd ("CASB"), forming part of an integrated mixed use commercial development of Empire City (an on-going property development on a piece of leasehold land held under PN116964, Lot 90573, Mukim Sungai Buloh, Daerah Petaling, Negeri Selangor) ("Empire City Properties"), for a total purchase consideration of RM73,535,250 ("Empire City Purchase Consideration") to be satisfied via a combination of RM63,240,350 in cash ("Cash Consideration") and 49,023,333 new Shares issued to CASB on 4 June 2025 at an issue price of RM0.2100 per Share ("Consideration Shares") ("Acquisitions of Empire City Properties") ("Proposed Variation").
Please refer to the attachment for further details of the Proposals.
This announcement is dated 13 October 2026.