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Proposed Bonus Issue Of 88,000,000 New Ordinary Shares Of RM0.50 Each In dayang ("Bonus Share(s)") On The Basis Of One (1) Bonus Share For Every Four (4) Existing Ordinary Shares Of RM0.50 Each ("Share(s)") Held In Dayang On An Entitlement Date To Be Determined Later ("Proposed Bonus Issue"); And

Proposed Renounceable Rights Issue Of 110,000,000 New Shares ("Rights Share(s)") On The Basis Of One (1) Rights Share For Every Four (4) Existing Shares Held In Dayang After The Proposed Bonus Issue At An Entitlement Date To Be Determined Later ("Proposed Rights Issue")

(Collectively Referred To As The "Proposals")

BackDec 22, 2010
Date Announced
:
22/12/2010  




Type
:
Announcement
Subject
:
DAYANG ENTERPRISE HOLDINGS BHD ("DAYANG" OR THE "COMPANY")

PROPOSED BONUS ISSUE OF 88,000,000 NEW ORDINARY SHARES OF RM0.50 EACH IN DAYANG ("BONUS SHARE(S)") ON THE BASIS OF ONE (1) BONUS SHARE FOR EVERY FOUR (4) EXISTING ORDINARY SHARES OF RM0.50 EACH ("SHARE(S)") HELD IN DAYANG ON AN ENTITLEMENT DATE TO BE DETERMINED LATER ("PROPOSED BONUS ISSUE"); AND

PROPOSED RENOUNCEABLE RIGHTS ISSUE OF 110,000,000 NEW SHARES ("RIGHTS SHARE(S)") ON THE BASIS OF ONE (1) RIGHTS SHARE FOR EVERY FOUR (4) EXISTING SHARES HELD IN DAYANG AFTER THE PROPOSED BONUS ISSUE AT AN ENTITLEMENT DATE TO BE DETERMINED LATER ("PROPOSED RIGHTS ISSUE")

(Collectively referred to as the "Proposals")

Contents
:
We refer to the announcement made by OSK Investment Bank Berhad ("OSK") on behalf of the Board of Directors of the Company ("Board") on 8 November 2010 in relation the Proposals.

Announcement Details :

On behalf of the Board, OSK wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") had vide its letter dated 21 December 2010, approved the following:-

i. listing and quotation of 88,000,000 new ordinary shares of RM0.50 each to be issued pursuant to the Proposed Bonus Issue; and

ii. listing and quotation of 110,000,000 Rights Shares to be issued pursuant to the Proposed Rights Issue.


The approval granted by Bursa Securities is subject to the following conditions:-

i. Dayang and its adviser must fully comply with the relevant provisions under the Main Market Listing Requirements ("Main LR") pertaining to the implementation of the Proposals;

ii. Dayang and its adviser to inform Bursa Securities upon the completion of the Proposals;

iii. Dayang to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposals are completed; and

iv. Dayang and its adviser are required to make the relevant announcements pursuant to Paragraph 6.35(2)(a) & (b) and 6.35(4) of the Main LR.

 

This announcement is dated 22 December 2010.