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LYC

0.355

-0.01 (-2.7%)

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING LYC HEALTHCARE BERHAD ("LYC OR THE "COMPANY") PROPOSED PRIVATE PLACEMENT OF UP TO 30% OF THE TOTAL NUMBER OF ISSUED SHARES OF LYC AT AN ISSUE PRICE TO BE DETERMINED AND ANNOUNCED LATER

LYC HEALTHCARE BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description
LYC HEALTHCARE BERHAD ("LYC OR THE "COMPANY")

PROPOSED PRIVATE PLACEMENT OF UP TO 30% OF THE TOTAL NUMBER OF ISSUED SHARES OF LYC AT AN ISSUE PRICE TO BE DETERMINED AND ANNOUNCED LATER

The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcement in relation to the Proposed Private Placement.

We refer to the earlier announcement dated 4 May 2020 in relation to amongst others, the Proposed Private Placement.

Earlier on 4 May 2020, UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") had, on behalf of the Board of Directors of LYC ("Board"), announced that LYC proposed to undertake amongst others, the Proposed Private Placement ("Initial Announcement"). As set out in the Initial Announcement, the Proposed Private Placement involves an issuance of up to 30% of the total number of issued shares of LYC which will be placed out to third party investor(s) to be identified at a later stage. 

On behalf of the Board, UOBKH is pleased to announce that LYC had today received an undertaking from its major shareholder, namely Lim Yin Chow ("Lim YC" or the "Interested Major Shareholder"), informing of his intention to undertake to subscribe and/ or cause his nominee(s) to subscribe for a total of up to 50,000,000 Placement Shares which are not subscribed for or taken up by any third party investor(s).

Pursuant thereto, LYC wishes to additionally seek its shareholders' approval for the proposed allocation of Placement Shares to Lim YC and/ or nominee(s) at an EGM to be convened simultaneously with the approval sought for the Proposed Private Placement.

Further details of the matter above are set out in the attachment enclosed. Save for the details set out in the attachment, all the other terms and conditions of the Proposed Private Placement as set out in the Initial Announcement remain unchanged.

 

This announcement is dated 30 June 2020.




Please refer attachment below.



Announcement Info

Company Name LYC HEALTHCARE BERHAD
Stock Name LYC
Date Announced 30 Jun 2020
Category General Announcement for PLC
Reference Number GA1-30062020-00119