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New Issue of Securities (Chapter 6 Of Listing Requirements) : Fund Raising

BackNov 07, 2019
Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description

DAYANG ENTERPRISE HOLDINGS BHD ("DAYANG" OR THE "COMPANY") RENOUNCEABLE RIGHTS ISSUE OF 96,480,983 NEW ORDINARY SHARES IN DAYANG ("DAYANG SHARES") ("RIGHTS SHARES") ON THE BASIS OF 1 RIGHTS SHARE FOR EVERY 10 EXISTING DAYANG SHARES HELD AS AT 5.00 P.M. ON 21 NOVEMBER 2019 ("ENTITLEMENT DATE") AT AN ISSUE PRICE OF RM0.92 PER RIGHTS SHARE ("RIGHTS ISSUE OF SHARES")

 

Unless otherwise stated, all capitalised terms set out herein shall have the same meanings as those set out in Dayang’s announcements dated 17 May 2019, 16 July 2019, 28 August 2019, 12 September 2019, 13 September 2019 and 1 October 2019 in relation to the Rights Issue of Shares ("Announcements").

 

On behalf of the Board, Kenanga IB wishes to announce the following:-

 

i. that the Board had, on even date, resolved to fix the issue price of the Rights Shares at RM0.92 per Rights Share.

 

The issue price of RM0.92 per Rights Share represents a discount of RM0.91 or approximately 49.73% to the TERP of Dayang Shares of RM1.83, calculated based on the 5-day VWAMP of Dayang Shares up to and including 6 November 2019, being the last trading day immediately preceding the price-fixing date of RM1.92 per Dayang Share; and

 

ii. that Dayang had on 7 November 2019 entered into an underwriting agreement with Kenanga IB ("Underwriter"), whereby the Underwriter will underwrite 46,702,945 Rights Shares,  representing approximately 48.41% of the total Rights Shares available for subscription pursuant to the Rights Issue of Shares.

 

This announcement is dated 7 November 2019.

 

 




Announcement Info

Company Name DAYANG ENTERPRISE HOLDINGS BERHAD
Stock Name DAYANG
Date Announced 07 Nov 2019
Category General Announcement for PLC
Reference Number GA1-07112019-00014