(Unless otherwise stated, all abbreviations and definitions used herein shall have the same meaning as those defined in the earlier announcements in relation to the Rights Issue with Free Warrants)
On behalf of the Company, M&A Securities is pleased to announce that at the close of acceptance, excess application and payment for the Rights Issue with Free Warrants as at 5.00 p.m. on 12 April 2024 (“Closing Date”), the Company received valid acceptances and excess applications for a total of 1,125,272,907 Rights Shares. This represents a subscription level of 100.05% of the total 1,124,706,544 Rights Shares available under the Rights Issue with Free Warrants, resulting in an over-subscription rate of 0.05%.
Details of valid acceptances and excess applications received as at the Closing Date for the Rights Issue with Free Warrants are as follows:
|
No. of Rights Shares
|
% of total issue size
|
Total valid acceptances
|
677,937,260
|
60.28
|
Total valid excess applications
|
447,335,647
|
39.77
|
Total valid acceptances and excess applications
|
1,125,272,907
|
100.05
|
Total Rights Shares available for subscription
|
1,124,706,544
|
100.00
|
Over-subscription
|
566,363
|
0.05
|
In accordance with the procedure for excess application as stipulated in the Abridged Prospectus dated 25 March 2024, the Board has allocated the Excess Rights Shares with Warrants on a fair and equitable basis and in the following priority:
(i) firstly, to minimise the incidence of odd lots;
(ii) secondly, on a pro-rata basis and in board lots, to the Entitled Shareholders who have applied for Excess Rights Shares with Warrants, calculated based on their respective shareholdings in the Company as at the Entitlement Date;
(iii) thirdly, on a pro-rata basis and in board lots, to the Entitled Shareholders who have applied for Excess Rights Shares with Warrants, calculated based on the quantum of their respective Excess Rights Shares with Warrants applications; and
(iv) finally, on a pro-rata basis and in board lots, to the renouncee(s) and/or transferee(s) (if applicable) who have applied for Excess Rights Shares with Warrants, calculated based on the quantum of their respective Excess Rights Shares with Warrants applied for.
For the remaining Excess Rights Shares with Warrants after steps (i) to (iv) have been carried out, steps (ii) to (iv) have been repeated until all remaining Excess Rights Shares with Warrants have been allocated.
The Rights Shares and Warrants are expected to be listed on the Main Market of Bursa Malaysia Securities Berhad on 25 April 2024.
This announcement is dated 19 April 2024.