NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING REX INDUSTRY BERHAD ("REX" OR THE "COMPANY") I. PROPOSED RIGHTS ISSUE; AND II. PROPOSED EXEMPTION (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
| REX INDUSTRY BERHAD |
| Type | Announcement |
| Subject | NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) FUND RAISING |
| Description | REX INDUSTRY BERHAD ("REX" OR THE "COMPANY")
I. PROPOSED RIGHTS ISSUE; AND
II. PROPOSED EXEMPTION
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS") |
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On behalf of the board of directors of Rex ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce that the Company proposes to undertake the following:- i. a renounceable rights issue of up to 246,626,468 new ordinary shares in Rex ("Rex Share(s)" or "Share(s)") ("Rights Shares") on the basis of 1 Rights Share for every 1 existing Rex Share held on an entitlement date to be determined later ("Proposed Rights Issue"); and ii. an exemption to Daiman Taipan Sdn Bhd and Darmendran Kunaretnam and persons acting in concert with them, namely Chee Cheng Chun and Leong Kwai Ying, under Paragraph 4.08 of the Rules on Take-Overs, Mergers and Compulsory Acquisitions from the obligation to undertake a mandatory offer for the remaining Rex Shares not already owned by them pursuant to the Proposed Rights Issue ("Proposed Exemption"). (The Proposed Rights Issue and the Proposed Exemption are collectively referred to as the "Proposals"). Please refer to the attachment for further details of the Proposals.
This announcement is dated 19 May 2020.
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Please refer attachment below.
Announcement Info
| Company Name | REX INDUSTRY BERHAD |
| Stock Name | REX |
| Date Announced | 19 May 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-19052020-00060 |