MINETEC-PA

0.065

+0.005 (+8.3%)

Listing Information & Profile

Profile for Securities of PLC

MINETECH RESOURCES BERHAD

Instrument Category Securities of PLC
Instrument Type Preference Shares
Description
MINETECH RESOURCES BERHAD ("MINETECH" OR THE "COMPANY")

RENOUNCEABLE RIGHTS ISSUE OF 582,664,397 NEW IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES IN MINETECH ("ICPS") AT AN ISSUE PRICE OF RM0.03 PER ICPS ON THE BASIS OF 1 ICPS FOR EVERY 2 EXISTING MINETECH SHARES HELD ("RIGHTS ISSUE OF ICPS")
Listing Date 25 Oct 2021
Issue Date 13 Oct 2021
Issue/ Ask Price Malaysian Ringgit (MYR)   0.0300
Issue Size Indicator Unit
Issue Size in Unit 582,664,397
Maturity Mandatory
Maturity Date 12 Oct 2026
Revised Maturity Date
Name of Guarantor Not Applicable
Name of Trustee Not Applicable
Coupon/Profit/Interest/Payment Rate
Minetech has full discretion over the declaration of dividends, if any. In the event dividends are declared, it will be paid annually in arrears and such dividends are non-cumulative and shall be paid in priority over Minetech Shares.
Coupon/Profit/Interest/Payment Frequency Not Applicable
Redemption Not Applicable
Exercise/Conversion Period 5.00   Year(s)
Revised Exercise/Conversion Period Not Applicable
Exercise/Strike/Conversion Price Malaysian Ringgit (MYR)   0.1200
Revised Exercise/Strike/Conversion Price Not Applicable
Exercise/Conversion Ratio 4:1
Revised Exercise/Conversion Ratio Not Applicable
Mode of satisfaction of Exercise/ Conversion price Tendering of securities
Settlement Type/ Convertible into Physical (Shares)



Remarks :
The ICPS may be converted into new Minetech Shares based on the following conversion modes:

(1)	Cashless Conversion  by surrendering 4 ICPS for conversion into 1 new Minetech Share; or

(2)	Cash Conversion  by surrendering 1 ICPS and cash payment of RM0.09 for conversion into 1 new Minetech Share.

Premised on the terms of the ICPS, the ICPS can be converted into new Minetech Shares at any time within 5 years commencing on and including the date of issue of the ICPS up to and including the maturity date (as indicated above), as determined by the conversion ratio and conversion price. Any remaining ICPS that are not converted by the maturity date shall be automatically converted into new Minetech Shares at the conversion ratio of 4 ICPS for 1 new Minetech Share.

If the conversion results in a fractional entitlement to Minetech Shares, such fractional entitlement shall be disregarded and no refund or credit, whether in the form of the ICPS, cash or otherwise, shall be given in respect of the disregarded fractional entitlement.

This announcement is dated 22 October 2021.


Announcement Info

Company Name MINETECH RESOURCES BERHAD
Stock Name MINETEC-PA
Date Announced 22 Oct 2021
Category Listing Information and Profile
Reference Number LIP-22102021-00002