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New Issue of Securities (Chapter 6 Of Listing Requirements): Fund Raising (Rights Issues, Private Placement, Etc)

BackMar 08, 2011
Date Announced
:
08/03/2011  



Type
:
Announcement
Subject
:
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING (RIGHTS ISSUES, PRIVATE PLACEMENT, ETC)

Description
:
DAYANG ENTERPRISE HOLDINGS BHD ("DAYANG" OR THE "COMPANY")

– RIGHTS ISSUE

Announcement Details/Table Section :

The terms used herein, unless the context otherwise states, shall bear the same meaning as those defined in the announcement dated 8 November 2010 in relation to the Rights Issue.

We refer to the earlier announcements in relation to the Rights Issue.

On behalf of the Board, OSK wishes to announce that as at the close of acceptance and payment for the Rights Issue at 5.00 p.m. on 28 February 2011, the Rights Shares have been over subscribed by 15.19% over the total number of 110,000,000 Rights Shares available for subscription under the Rights Issue.

The details of the acceptances and excess applications received as at the close of acceptance and payment for the Rights Issue as at 5.00 p.m. on 28 February 2011 are set out in the table below:-

No. of Rights Shares
%
Acceptances
109,614,217
99.65
Excess applications
17,089,516
15.54
Total acceptances and excess applications
126,703,733
115.19
Total Rights Shares available for subscription
110,000,000
100.00
Over subscription
16,703,733
15.19

The Board has approved the basis of allocation for the excess Rights Shares applied for under the Rights Issue in the following priority:-

(i) firstly, to minimise the incidence of odd lots;

(ii) secondly, on a pro-rata basis to the Entitled Shareholders who have applied for excess Rights Shares, taking into consideration their respective shareholdings in our Company as at 10 February 2011 at 5:00 p.m. on a board lot basis; and

(iii) thirdly, on a pro-rata basis to the Entitled Shareholders and/ or the renouncee(s) (if applicable) who have applied for excess Rights Shares, taking into consideration the quantum of their respective excess application.


This announcement is dated 8 March 2011.


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