MULTIPLE PROPOSALS (I) PROPOSED SHARE CONSOLIDATION; AND (II) PROPOSED RIGHTS ISSUE WITH WARRANTS (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
| NETX HOLDINGS BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | (I) PROPOSED SHARE CONSOLIDATION; AND (II) PROPOSED RIGHTS ISSUE WITH WARRANTS (COLLECTIVELY REFERRED TO AS THE "PROPOSALS") |
|
On behalf of the Board of Directors of NetX, Mercury Securities Sdn Bhd wishes to announce that the Company proposes to undertake the following:-
(i) proposed consolidation of every 50 ordinary shares in NetX (“NetX Shares” or “Shares”) into 1 NetX Share (“Proposed Share Consolidation”); and
(ii) proposed renounceable rights issue of up to 629,491,596 new Shares (“Rights Shares”) together with up to 314,745,798 free detachable warrants in NetX (“Warrants C”) on the basis of 6 Rights Shares together with 3 free Warrants C for every 1 existing Share (after the Proposed Share Consolidation) held by the entitled shareholders on an entitlement date to be determined (“Proposed Rights Issue with Warrants”),
(collectively referred to as the “Proposals”).
Please refer to the attachment for further details on the above.
This announcement is dated 15 July 2020. |
|
Please refer attachment below.
Announcement Info
| Company Name | NETX HOLDINGS BERHAD |
| Stock Name | NETX |
| Date Announced | 15 Jul 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-14072020-00107 |