NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING INSAS BERHAD ("INSAS" OR "COMPANY") RENOUNCEABLE RIGHTS ISSUE OF UP TO 132,604,152 REDEEMABLE PREFERENCE SHARES ("RIGHTS RPS") IN INSAS TOGETHER WITH UP TO 331,510,380 FREE DETACHABLE WARRANTS ("WARRANTS") ON THE BASIS OF 2 RIGHTS RPS AND 5 WARRANTS FOR EVERY 10 EXISTING ORDINARY SHARES ("INSAS SHARES" OR "SHARES") AT AN ISSUE PRICE OF RM1.00 PER RIGHTS RPS ("RIGHTS ISSUE WITH WARRANTS");
| INSAS BERHAD |
| Type | Announcement |
| Subject | NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) FUND RAISING |
| Description | INSAS BERHAD ("INSAS" OR "COMPANY")
RENOUNCEABLE RIGHTS ISSUE OF UP TO 132,604,152 REDEEMABLE PREFERENCE SHARES ("RIGHTS RPS") IN INSAS TOGETHER WITH UP TO 331,510,380 FREE DETACHABLE WARRANTS ("WARRANTS") ON THE BASIS OF 2 RIGHTS RPS AND 5 WARRANTS FOR EVERY 10 EXISTING ORDINARY SHARES ("INSAS SHARES" OR "SHARES") AT AN ISSUE PRICE OF RM1.00 PER RIGHTS RPS ("RIGHTS ISSUE WITH WARRANTS"); |
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Unless otherwise stated, abbreviations and definitions used throughout this announcement shall be the same as previously announced on 9 July 2020.
Reference is made to the above.
M&A Securities Sdn Bhd, on behalf of the Board of Directors of Insas (“Board”), is pleased to announce that the Board has resolved to fix the exercise price for the Warrants at RM0.90 per Warrant.
The exercise price of RM0.90 for each Warrant represents:-
(a) a discount of approximately RM0.0314 or 3.37% to the 5D-VWAP of Insas Shares up to and inclusive of 4 January 2021 of RM0.9314 per Share, being the market day immediately preceding the price-fixing date on 5 January 2021; and
(b) a discount of approximately RM0.0209 or 2.27% to the theoretical ex-rights price of Insas Shares of approximately RM0.9209 based on the 5D-VWAP up to and inclusive of 4 January 2021 of RM0.9314.
This announcement is dated 5 January 2021. |
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Announcement Info
| Company Name | INSAS BERHAD |
| Stock Name | INSAS |
| Date Announced | 05 Jan 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-05012021-00079 |