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Bursa Malaysia OKS Ocean Vantage's Listing of Up to 50 Million Shares

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Ocean Vantage (KLSE:OVH) said Bursa Malaysia Securities approved the listing and quotation of up to 50 million new shares to be issued under its proposed acquisition, according to a Wednesday Malaysian bourse filing.

Earlier in June, the company's unit Ocean Vantage agreed to acquire the entire equity interest in Bina Gemilang Bersatu for 10 million ringgit, through the issuance of up to 50 million new shares at 0.20 ringgit each.

The approval is subject to compliance with Bursa's listing requirements and the completion of the proposed acquisition, according to a Wednesday Malaysian bourse filing.

The bourse also requires Ocean Vantage to provide confirmation of compliance with the approval conditions, and a certified copy of shareholders' resolution approving the proposed acquisition and diversification.

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