Contents :
1.0 INTRODUCTION
The Board of Directors of Ranhill Berhad ("Ranhill" or "the Company") is pleased to announce that the Company has today submitted to the Securities Commission ("SC") an application on the Proposed Issuance of a Partially Underwritten RM300 Million Murabahah Commercial Papers / Murabahah Medium Term Notes Programme ("the MCP/MMTN Programme").
The MCP/MMPN Programme is structured into two (2) tranches as follows:-
Tranche | Amount (RM) |
Tranche I | 200 Million |
Tranche II | 100 Million |
Total | 300 Million |
2.0 RATIONALE FOR THE MCP/MMTN PROGRAMME
The MCP/MMTN Programme shall be utilised for the following purposes:-
Tranche I
- To finance the general working capital requirements of the Company and/or its subsidiaries; and/or
- To finance future investments to be identified by the Compamy and/or its subsidiaries, subject to such investments being Syariah compliant and approved by the relevant regulatory authorities (if required).
Tranche II
- To finance the working capital requirements of projects to be identified by the Company and/or its subsidiaries ("Specific Projects").
3.0 FINANCIAL EFFECTS OF THE MCP/MMTN PROGRAMME
3.1 Issued and paid-up share capital
The MCP/MMTN Programme will not have any effect on the issued and paid-up share capital of Ranhill.
3.2 Earnings
The MCP/MMTN Programme will not have any effect on the earnings of Ranhill for the financial year ending 30 June 2003.
3.3 Net Tangible Assets ("NTA")
The MCP/MMTN Programme will not have any effect on the NTA of Ranhill for the financial year ending 30 June 2003.
4.0 APPROVALS REQUIRED
The MCP/MMTN Programme is subject to the approval of the SC and any other relevant regulatory authorities, if required.
5.0 DIRECTORS' AND SUBSTANTIAL SHAREHOLDERS' INTERESTS
None of the Directors or substantial shareholders of Ranhill or persons connected to them have any interest, direct or indirect, in the issuance of the MCP/MMTN Programme.
6.0 ADVISER AND ARRANGER
Standard Chartered Bank Malaysia Berhad has been appointed by the Company as the Adviser and Arranger for the MCP/MMTN Programme.
7.0 FURTHER ANNOUNCEMENT
In compliance with the Listing Requirements, Ranhill will issue an announcement after receiving the decision of the SC on the MCP/MMTN Programme.
This announcement is dated 27 December 2002.