NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING EASTLAND EQUITY BHD. ("EASTLAND" OR "COMPANY") RIGHTS ISSUE WITH WARRANTS
EASTLAND EQUITY BHD |
Type | Announcement | ||||||||||||||||||
Subject | NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) FUND RAISING |
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Description | EASTLAND EQUITY BHD. ("EASTLAND" OR "COMPANY") RIGHTS ISSUE WITH WARRANTS |
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This announcement is dated 10 February 2022.
Reference is made to the Company’s earlier announcements dated 12 October 2021, 5 November 2021, 13 December 2021, 3 January 2022 in relation to the proposed Rights Issue with Warrants, the announcement in relation to the outcome of extraordinary general meeting held on 30 December 2021 (“Earlier Announcements”) and the Abridged Prospectus dated 17 January 2022 in relation to the Rights Issue with Warrants (“Abridged Prospectus”). Unless stated otherwise, abbreviations and definitions used throughout this announcement shall bear the same meaning as those defined in the Earlier Announcements and Abridged Prospectus.
On behalf of the Board, Malacca Securities wishes to announce that as at the close of acceptance, excess application and payment for the Rights Issue with Warrants at 5.00 p.m. on Friday, 4 February 2022, the total acceptances and excess applications for the Rights Issue with Warrants were 1,395,006,593 Rights Shares, representing 121.91% subscription of the total number of Rights Shares available for subscription under the Rights Issue with Warrants.
The details of the subscription are set out below:-
Successful applicants of the Rights Shares will be given Warrants on the basis of 13 Warrants for every 19 Rights Shares successfully subscribed for.
The Excess Rights Shares with Warrants will be allotted on a fair and equitable basis and in the following priority:-
In the event there is any remaining balance of the Excess Rights Shares with Warrants applied for by the Entitled Shareholders and/or renouncee(s) who have applied for the Excess Rights Shares with Warrants after carrying out steps (i) to (iv) as set out above, steps (ii) to (iv) will be repeated again in the same sequence to allocate the remaining balance of the Excess Rights Shares with Warrants to the Entitled Shareholders and/or renouncee(s) who have applied for the Excess Rights Shares with Warrants until such balance is fully allocated.
Nevertheless, the Board reserves the right to allot any Excess Rights Shares with Warrants applied for under Part I(B) of the RSF in such manner as the Board deems fit and expedient, and in the best interest of the Company subject always to such allocation being made on a fair and equitable basis, and that the intention of the Board as set out in steps (i) to (iv) above are achieved. The Board also reserves the rights at its absolute discretion to accept in full or in part any application for the Excess Rights Shares with Warrants without assigning any reason thereof.
The Rights Shares and Warrants are expected to be listed on the Main Market of Bursa Securities on 18 February 2022. |
Announcement Info
Company Name | EASTLAND EQUITY BHD |
Stock Name | EASTLND |
Date Announced | 10 Feb 2022 |
Category | General Announcement for PLC |
Reference Number | GA1-10022022-00076 |