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EDEN

0.140

(%)

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING EDEN INC. BERHAD ("EDEN" OR "COMPANY") (I) ISSUANCE OF UP TO 155,681,135 FREE WARRANTS IN EDEN (FREE WARRANTS) ON THE BASIS OF ONE (1) FREE WARRANT FOR EVERY TWO (2) EXISTING ORDINARY SHARES IN EDEN HELD ON AN ENTITLEMENT DATE TO BE DETERMINED AND ANNOUNCED LATER ("FREE WARANTS ISSUE") ; AND (II) ISSUANCE OF REDEEMABLE CONVERTIBLE NOTES WITH AN AGGREGATE PRINCIPAL AMOUNT OF UP TO RM60.0 MILLION ("NOTES ISSUE"); (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

EDEN INC. BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description
EDEN INC. BERHAD ("EDEN" OR "COMPANY")

(I)	ISSUANCE OF UP TO 155,681,135 FREE WARRANTS IN EDEN (FREE WARRANTS) ON THE BASIS OF ONE (1) FREE WARRANT FOR EVERY TWO (2) EXISTING ORDINARY SHARES IN EDEN HELD ON AN ENTITLEMENT DATE TO BE DETERMINED AND ANNOUNCED LATER ("FREE WARANTS ISSUE") ; AND

(II)	ISSUANCE OF REDEEMABLE CONVERTIBLE NOTES WITH AN AGGREGATE PRINCIPAL AMOUNT OF UP TO RM60.0 MILLION ("NOTES ISSUE"); 

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

We refer to the announcements dated 1 November 2017, 15 December 2017, 9 January 2018, 15 March 2018, 21 March 2018, 4 April 2018, 30 April 2018, 29 June 2018, 26 July 2018, 13 August 2018 and 21 August 2018 in relation to the Proposals (“Announcements”). Unless otherwise stated, the terms used herein shall have the same meaning as defined in the Announcements.

 

Pursuant to the approval from Bursa Securities dated 12 June 2018, the Company had in August 2018 implemented the Proposals.

 

On behalf of the Company, Kenanga IB wishes to inform that the Company and AOF I (“Subscriber”) have on 16 July 2019, entered into a supplemental agreement (“Supplemental Agreement”) to reflect the necessary consequential changes, including the following:

 

  1. The removal of ACPAM as a party to the Subscription Agreement following the termination of ACPAM as the discretionary investment manager of the Subscriber pursuant to the termination notice on 29 May 2019; and
  2. Accordingly, the Subscriber will, at any time and from time to time, by delivering a written notice to the Company, appoint an authorised agent which is regulated in the jurisdiction of its principal place of business to conduct fund management activities, to act for and on behalf of the Subscriber in respect of all its rights, obligations and entitlements set out under the Subscription Agreement with effect from the date set out in the authorisation notice.

 

Pursuant to the Supplemental Agreement, ACPAM shall cease to be the discretionary investment manager of all the investments of the Subscriber and cease to have the authority and capacity to perform its obligations in accordance with the terms under the Subscription Agreement. Accordingly, the administrative fee in respect of the issuance of the Notes shall be payable to Advance Capital Partners Pte. Ltd. (“ACP”) (or such other party as may be notified in writing by the Subscriber on or before the Closing Date) on each Closing Date of each sub-tranche of the Notes.

 

Save for the changes as mentioned above, there are no material amendments to the Subscription Agreement as varied by the Supplemental Agreement and all the terms and conditions under the Supplemental Agreement with take effect from this date thereof.

 

The Notes Issue was constituted by a trust deed dated 26 July 2018 (“Trust Deed”), executed by the Company and Malaysian Trustees Berhad (being the trustee for the Notes Issue, “Trustee”). The Notes are constituted by the Trust Deed and they are neither guaranteed nor secured. As a result of the abovementioned transaction, the Trust Deed will be amended accordingly, which shall be effected by a supplemental Trust Deed to be executed by the Company and the Trustee at a later date.

This announcement is dated 16 July 2019.

 






Announcement Info

Company Name EDEN INC. BERHAD
Stock Name EDEN
Date Announced 16 Jul 2019
Category General Announcement for PLC
Reference Number GA1-11072019-00038