MTRONIC

0.100

(%)

MULTIPLE PROPOSALS METRONIC GLOBAL BERHAD ("METRONIC" OR THE "COMPANY") (I) PROPOSED DIVERSIFICATION; (II) PROPOSED SHARE CONSOLIDATION; AND (III) PROPOSED RIGHTS ISSUE WITH WARRANTS (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

METRONIC GLOBAL BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
METRONIC GLOBAL BERHAD ("METRONIC" OR THE "COMPANY")

(I)	PROPOSED DIVERSIFICATION;
(II)	PROPOSED SHARE CONSOLIDATION; AND
(III)	PROPOSED RIGHTS ISSUE WITH WARRANTS

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

On behalf of the Board of Directors of the Company, Mercury Securities Sdn Bhd (“Mercury Securities” or the “Principal Adviser”) wishes to announce that the Company proposes to undertake the following:-

 

(i)         proposed diversification of the existing business of Metronic and its subsidiaries (“Metronic Group” or the “Group”) to include the design, research and development, installation, engineering, procurement, construction, commissioning and maintenance of solar PV panels, equipment and facilities and other related activities including solar leasing (“Solar Energy Business”) (“Proposed Diversification”);

 

(ii)         proposed consolidation of every 10 existing ordinary shares in Metronic (“Metronic Shares” or “Shares”) into 1 Share (“Consolidated Share”) (“Proposed Share Consolidation”); and

 

(iii)        proposed renounceable rights issue of up to 1,742,433,306 new Shares (“Rights Shares”) together with up to 580,811,102 free detachable warrants in the Company (“Warrants B”) on the basis of 6 Rights Shares together with 2 free Warrants B for every 1 Consolidated Share held by the entitled shareholders of the Company on an entitlement date to be determined (“Entitlement Date”) (“Entitled Shareholders”) (“Proposed Rights Issue with Warrants”).

 

Please refer to the attachment for further details on the above.

 

This announcement is dated 19 November 2021.




Please refer attachment below.



Announcement Info

Company Name METRONIC GLOBAL BERHAD
Stock Name MTRONIC
Date Announced 19 Nov 2021
Category General Announcement for PLC
Reference Number GA1-19112021-00015