XL

0.750

(%)

MULTIPLE PROPOSALS XIAN LENG HOLDINGS BERHAD ("XIAN LENG" OR "COMPANY") (I) FREE WARRANTS ISSUE; AND (II) ESTABLISHMENT OF A LONG TERM INCENTIVE PLAN. (COLLECTIVELY REFERRED TO AS "PROPOSALS")

XIAN LENG HOLDINGS BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
XIAN LENG HOLDINGS BERHAD ("XIAN LENG" OR "COMPANY")

(I)	FREE WARRANTS ISSUE; AND 
(II)	ESTABLISHMENT OF A LONG TERM INCENTIVE PLAN.

(COLLECTIVELY REFERRED TO AS "PROPOSALS")

We refer to the announcements made on 3 March 2021, 9 March 2021, 25 March 2021, 31 March 2021, 1 April 2021 and 22 April 2021 (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

 

On behalf of the Board, Kenanga IB wishes to announce that Xian Leng had on today executed a deed poll constituting the Warrants.

 

In addition, the Company has resolved to fix the exercise price of the Warrants at RM1.23 each, represents a discount of RM0.2999 or 19.60% to the 5-day volume weighted average market price (“5D-VWAP”) up to and including 21 April 2021 (being the last trading date immediately preceding the price fixing date) of RM1.5299.

 

The abovementioned exercise price is determined and fixed by the Board after taking into consideration the following:

  1. the historical price movement of Xian Leng Shares;
  2. the 5D-VWAP of Xian Leng Shares prior to the price-fixing based on market-based principles, of a discount of up to 20%;
  3. the prevailing market conditions; and
  4. the future working capital requirements of Xian Leng and its subsidiaries.

 

This announcement is dated 22 April 2021.






Announcement Info

Company Name XIAN LENG HOLDINGS BERHAD
Stock Name XIANLNG
Date Announced 22 Apr 2021
Category General Announcement for PLC
Reference Number GA1-22042021-00071