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NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : BONUS ISSUES CLASSIC SCENIC BHD ("CSCENIC" OR THE "COMPANY") (I) BONUS ISSUE OF SHARES; AND (II) BONUS ISSUE OF WARRANTS

CLASSIC SCENIC BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
BONUS ISSUES
Description
CLASSIC SCENIC BHD ("CSCENIC" OR THE "COMPANY")

(I) BONUS ISSUE OF SHARES; AND
(II) BONUS ISSUE OF WARRANTS

Abbreviations used herein shall be the same as those defined in the earlier announcements in relation to the Bonus Issue of Shares and Bonus Issue of Warrants.

 

On behalf of the Board, M&A Securities is pleased to announce that the Board has resolved to fix the exercise price for the Warrants at RM0.61 per Warrant.

 

The exercise price of the Warrants was determined by the Board after taking into consideration, amongst others, the following:

 

(i)         the historical share price movement of CSCENIC Shares and prevailing market conditions;

 

(ii)        the theoretical ex-bonus price of CSCENIC Shares calculated based on 5D-VWAMP of CSCENIC Shares up to and including 14 July 2021 of RM1.5086 per Share, being the market day immediately preceding the date of this announcement; and

 

(iii)       the future funding requirements of the Group.

 

The exercise price of the Warrants represents a discount of 19.13% to the theoretical ex-bonus price of CSCENIC Shares of RM0.7543 per Shares after the Bonus Issue of Shares.

 

Premised on the above, the Board is of the view that the exercise price of the Warrants is fair.

 

This announcement is dated 15 July 2021.






Announcement Info

Company Name CLASSIC SCENIC BERHAD
Stock Name CSCENIC
Date Announced 15 Jul 2021
Category General Announcement for PLC
Reference Number GA1-15072021-00120