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

BackDec 12, 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, 1 October 2019, 7 November 2019, 8 November 2019, 12 November 2019 and 21 November 2019 in relation to the Rights Issue of Shares ("Announcements").

 

On behalf of the Board, Kenanga IB wishes to announce that as at the close of acceptance, excess application and payment for the Rights Issue of Shares as at 5.00 p.m. on Friday, 6 December 2019, the total acceptances and excess applications for the Rights Issue were 185,861,182 Rights Shares, which represents an over-subscription of 92.64% over the total number of 96,480,983 Rights Shares available for subscription under the Rights Issue of Shares, the details of which are set out below:-

 

  No. of Rights Shares %
Acceptances 94,648,022 98.10
Excess Applications 91,213,160 94.54
Total acceptances and Excess Applications 185,861,182 192.64
Total Rights Shares available for subscription 96,480,983 100.00
Over-subscription 89,380,199 92.64

 

It is the intention of the Board to allot the Excess Rights Shares, if any, in a fair and equitable manner to the Entitled Shareholders and/ or their renouncees and/ or transferees (if applicable) who have applied for the Excess Rights Shares in the following priority:-

 

i.   firstly, to minimise the incidence of odd lots;

 

ii.  secondly, for allocation to the Entitled Shareholders who have applied for Excess Rights Shares under the Excess Application, on a pro-rata basis and in board lot, calculated based on their respective shareholdings in the Company as at the Entitlement Date;

 

iii. thirdly, for allocation to the Entitled Shareholders who have applied for Excess Rights Shares under the Excess Application, on a pro-rata basis and in board lot, calculated based on the quantum of their respective Excess Rights Shares applied for; and

 

iv.  finally, for allocation to renouncees and/ or transferees (if applicable) who have applied for Excess Rights Shares under the Excess Application, on a pro-rata basis and in board lot, calculated based on the quantum of their respective Excess Rights Shares applied for.

 

In the event there is any remaining balance of Excess Rights Shares applied for by the Entitled Shareholders and/ or their renouncees and/ or transferees (if applicable), who have applied for the Excess Rights Shares after carrying out steps (i) to (iv) as set out above, steps (ii) to (iv) will be repeated again in the same sequence to allocate the remaining balance of the Excess Rights Shares to the Entitled Shareholders and/ or their renouncees and/ or transferees (if applicable) who have applied for the Excess Rights Shares until such balance is fully allocated.

 

Nonetheless, the Board reserves the right to allot the Excess Rights Shares applied for by the Entitled Shareholders and/ or their renouncees and/ or transferees (if applicable) in such manner as the Board deems fit, expedient and in the best interest of the Company, subject always to such allocation being made on a fair and equitable manner and that the intention of the Board as set out in (i) to (iv) above is achieved. The Board also reserves the rights at its absolute discretion to accept in full or in part any application for Excess Rights Shares without assigning any reason thereof.

 

The Rights Shares are expected to be listed on the Main Market of Bursa Securities on 19 December 2019.

 

This announcement is dated 12 December 2019.





Announcement Info

Company Name DAYANG ENTERPRISE HOLDINGS BERHAD
Stock Name DAYANG
Date Announced 12 Dec 2019
Category General Announcement for PLC
Reference Number GA1-12122019-00055