NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : OTHER ISSUE OF SECURITIES TECHBOND GROUP BERHAD ("TECHBOND" OR THE "COMPANY") FREE WARRANTS ISSUE
TECHBOND GROUP BERHAD |
Type | Announcement |
Subject | NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) OTHER ISSUE OF SECURITIES |
Description | TECHBOND GROUP BERHAD ("TECHBOND" OR THE "COMPANY") FREE WARRANTS ISSUE |
We refer to the earlier announcements in relation to the Free Warrants Issue. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcements. On behalf of the Board, RHB Investment Bank wishes to announce that the exercise price of the Warrants has been fixed at RM0.76, representing a discount of approximately 12.9% to the five (5)-day VWAP of the Shares up to and including 5 February 2020, being the last trading day immediately preceding the price-fixing date for the Free Warrants Issue (“Price-Fixing Date”) of RM0.8723 per Share. The exercise price of the Warrants was determined by the Board after taking into consideration, among others, the following: (i) the historical trading prices of the Shares; (ii) the five (5)-day VWAP of the Shares immediately preceding the Price-Fixing Date; (iii) the prevailing market conditions; and (iv) the future working capital requirements of the Group. The Board deems the discount of approximately 12.9% to the five (5)-day VWAP of the Shares up to and including 5 February 2020, being the last trading day immediately preceding the Price-Fixing Date reasonable, given that: (a) the share price of the Company has been trading between RM0.665 to RM0.995 over the past 12 months up to 5 February 2020; (b) the five (5)-day VWAP of the Shares up to and including 5 February 2020 of RM0.8723 represents a premium of approximately 32.2% over the initial public offering price of the Company of RM0.66 per Share; and (c) the exercise of the Warrants would allow the Company to raise funds to fund the future working capital requirements of the Group. In addition to the above, the Company had on 6 February 2020 executed the Deed Poll constituting the Warrants. This Announcement is dated 6 February 2020. |
Announcement Info
Company Name | TECHBOND GROUP BERHAD |
Stock Name | TECHBND |
Date Announced | 06 Feb 2020 |
Category | General Announcement for PLC |
Reference Number | GA1-06022020-00042 |