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NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING OCK GROUP BERHAD ("OCK" OR THE "COMPANY") RIGHTS ISSUE WITH WARRANTS

OCK GROUP BERHAD

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

RIGHTS ISSUE WITH WARRANTS

The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcements in relation to the Rights Issue with Warrants.

We refer to the earlier announcements by UOBKH on behalf of the Board on 3 July 2020, 24 July 2020, 21 August 2020, 26 August 2020, 13 October 2020 and 11 November 2020 in relation to the Rights Issue with Warrants.

On behalf of the Board, UOBKH wishes to announce that as at the close of acceptance, excess application and payment for the Rights Issue with Warrants as at 5.00 p.m. on Wednesday, 23 December 2020, the total acceptances and excess applications for the Rights Issue with Warrants were 344,796,633 Rights Shares, which represents an over-subscription of 259.70% over the total number of 95,857,296 Rights Shares available for subscription under the Rights Issue with Warrants, the details of which are set out below:-

 

No. of Rights Shares

%

Acceptances

93,998,367

98.06

Excess applications

250,798,266

261.64

Total acceptances and excess applications

344,796,633

359.70

Total Rights Shares available for subscription

95,857,296

100.00

Over-subscription

248,939,337

259.70

It is the intention of the Board to allot the Excess Rights Shares with Warrants B on a fair and equitable basis. The Board has applied the following basis and priority in allocating the Excess Rights Shares with Warrants B, in accordance with the Abridged Prospectus dated 8 December 2020:-

i. Firstly, to minimise the incidence of odd lots;

ii. Secondly, for allocation to Entitled Shareholders who have applied for the Excess Rights Shares with Warrants B, on a pro-rata basis and in board lot, calculated based on their respective shareholdings in the Company as at the Entitlement Date;

iii. Thirdly, for allocation to Entitled Shareholders who have applied for the Excess Rights Shares with Warrants B, on a pro-rata basis and in board lot, calculated based on the quantum of their respective Excess Rights Shares with Warrants B applied for; and

iv. Finally, for allocation to renouncee(s) and/ or transferee(s) (if applicable) who have applied for the Excess Rights Shares with Warrants B, on a pro-rata basis and in board lot, calculated based on the quantum of their respective Excess Rights Shares with Warrants B applied for.

In the event there is any remaining balance of the Excess Rights Shares with Warrants B applied for by the Entitled Shareholders and/ or their renouncee(s) and/ or transferee(s) (if applicable) who have applied for the Excess Rights Shares with Warrants B after carrying out steps (i) to (iv) as set out above, steps (ii) to (iv) will be repeated again in the same sequence to allocate the remaining balance of the Excess Rights Shares with Warrants B to the Entitled Shareholders and/ or their renouncee(s) and/ or transferee(s) (if applicable) who have applied for the Excess Rights Shares with Warrants B until such balance is fully allocated.

Nevertheless, the Board reserves the right to allot any Excess Rights Shares with Warrants B applied for in such manner as the Board deems fit, expedient and in the best interest of the Company subject always to such allocation being made on a fair and equitable basis, and that the intention of the Board as set out in steps (i)-(iv) above are achieved. The Board also reserves the rights at its absolute discretion to accept in full or in part any application for the Excess Rights Shares with Warrants B without assigning any reason thereof.

The Rights Shares and Warrants B are expected to be listed on the Main Market of Bursa Securities on 8 January 2021.

 

This announcement is dated 31 December 2020.






Announcement Info

Company Name OCK GROUP BERHAD
Stock Name OCK
Date Announced 31 Dec 2020
Category General Announcement for PLC
Reference Number GA1-31122020-00082