OIB

1.190

(%)

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING ORIENTAL INTEREST BERHAD ("OIB" OR THE "COMPANY") RENOUNCEABLE RIGHTS ISSUE OF UP TO 154,858,394 NEW ORDINARY SHARES IN OIB ("OIB SHARE(S)" OR "SHARE(S)") ("RIGHTS SHARE(S)") ON THE BASIS OF 1 RIGHTS SHARE FOR EVERY 1 EXISTING OIB SHARE HELD AS AT 5.00 P.M. ON TUESDAY, 4 MAY 2021, TOGETHER WITH UP TO 154,858,394 FREE DETACHABLE WARRANTS ("WARRANT(S)") ON THE BASIS OF 1 WARRANT FOR EVERY 1 RIGHTS SHARE SUBSCRIBED, AT AN ISSUE PRICE OF RM0.68 PER RIGHTS SHARE ("RIGHTS ISSUE WITH WARRANTS")

ORIENTAL INTEREST BERHAD

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

RENOUNCEABLE RIGHTS ISSUE OF UP TO 154,858,394 NEW ORDINARY SHARES IN OIB ("OIB SHARE(S)" OR "SHARE(S)") ("RIGHTS SHARE(S)") ON THE BASIS OF 1 RIGHTS SHARE FOR EVERY 1 EXISTING OIB SHARE HELD AS AT 5.00 P.M. ON TUESDAY, 4 MAY 2021, TOGETHER WITH UP TO 154,858,394 FREE DETACHABLE WARRANTS ("WARRANT(S)") ON THE BASIS OF 1 WARRANT FOR EVERY 1 RIGHTS SHARE SUBSCRIBED, AT AN ISSUE PRICE OF RM0.68 PER RIGHTS SHARE ("RIGHTS ISSUE WITH WARRANTS")

We refer to OIB’s previous announcements and the circular to shareholders dated 23 March 2021 in relation to the Rights Issue with Warrants (“Circular”). Unless otherwise stated, the terms used herein shall have the same meaning as defined in the Circular.

 

On behalf of the Board, UOBKH wishes to announce that the Board had on even date resolved to fix the following prices pursuant to the Rights Issue with Warrants:-

 

  1. the issue price of the Rights Shares at RM0.68 per Rights Share; and
  2. the exercise price of the Warrants at RM1.15 per Warrant.

 

The issue price of RM0.68 per Rights Share represents a discount of RM0.45 or approximately 39.8% to the TEAP of OIB Shares of RM1.13, calculated based on the 5-day VWAP of OIB Shares up to and including 16 April 2021 of RM2.71, being the Market Day immediately prior to the price-fixing date.

 

The exercise price of RM1.15 per Warrant represents a premium of RM0.02 or approximately 1.8% to the TEAP of OIB Shares of RM1.13, calculated based on the 5-day VWAP of OIB Shares up to and including 16 April 2021 of RM2.71, being the Market Day immediately prior to the price-fixing date.

 

Further, on behalf of the Board, UOBKH wishes to announce that OIB had on even date, executed the Deed Poll constituting the Warrants.

 

 

This announcement is dated 19 April 2021.






Announcement Info

Company Name ORIENTAL INTEREST BERHAD
Stock Name OIB
Date Announced 19 Apr 2021
Category General Announcement for PLC
Reference Number GA1-19042021-00042