BINTAI

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NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING BINTAI KINDEN CORPORATION BERHAD ("BKCB" OR "COMPANY") RENOUNCEABLE RIGHTS ISSUE WITH FREE WARRANTS

BINTAI KINDEN CORPORATION BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description
BINTAI KINDEN CORPORATION BERHAD ("BKCB" OR "COMPANY")

RENOUNCEABLE RIGHTS ISSUE WITH FREE WARRANTS

For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the Company’s announcement dated 4 February 2015 in relation to the Rights Issue.

On behalf of the Board of Directors of BKCB, KAF Investment Bank Berhad wishes to announce that as at the close of acceptance and payment for the Rights Issue at 5.00 p.m. on 5 June 2015 (“Closing Date”), the total valid acceptances and excess applications received under the Rights Issue were 148,712,337 Rights Shares. This represents an over-subscription of 48,009,850 Rights Shares or approximately 47.67% over the total of 100,702,487 Rights Shares available for subscription under the Rights Issue.

The details of the total valid acceptances and excess applications received as at the Closing Date are set out in the table below:-

 

No. of Rights Shares

%

Total valid acceptances

77,939,295

77.39

Total valid excess applications

70,773,042

70.28

Total valid acceptances and excess applications

148,712,337

147.67

Total Rights Shares available for subscription

100,702,487

 

Over/(Under) subscription

48,009,850

 

Successful applicants of the Rights Shares will be given Warrants on the basis of one (1) Warrant for every one (1) Rights Share successfully subscribed for.  The Rights Shares which are not taken up or not validly taken up by our entitled shareholders and/or renouncee(s) and/or transferee(s) (if applicable) by the Closing Date (“Excess Rights Shares”), will be allotted to applicants who have applied for the Excess Rights Shares in the priority set out in Section 3.8 of the Abridged Prospectus dated 21 May 2015 as follows:-

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

(ii) secondly, for allocation to entitled shareholders who have applied for Excess Rights Shares, on a pro-rata basis and in board lots, calculated based on priority as follows:- 

  • the shareholdings in BKCB of the applicants as per their CDS accounts on the entitlement date; and
  • the quantum of Excess Rights Shares applied for; and 

(iii) thirdly, for allocation to transferee(s) and/or renouncee(s) who have applied for Excess Rights Shares, on a pro-rata basis and in board lots, based on the quantum of Excess Rights Shares applied for.

In the event of any balance Rights Shares after the above allocations, the balance will be allocated in the same process as set out in (ii) to (iii) above. 

The Rights Shares and Warrants are expected to be listed on the Main Market of Bursa Securities on 18 June 2015. 

This announcement is dated 11 June 2015.






Announcement Info

Company Name BINTAI KINDEN CORPORATION BERHAD
Stock Name BINTAI
Date Announced 11 Jun 2015
Category General Announcement for PLC
Reference Number GA1-11062015-00057