MULTIPLE PROPOSALS VSOLAR GROUP BERHAD ("VSOLAR" OR THE "COMPANY") (I) PROPOSED DIVERSIFICATION; (II) PROPOSED SHARE CONSOLIDATION; AND (III) PROPOSED RIGHTS ISSUE WITH WARRANTS
VSOLAR GROUP BERHAD |
Type | Announcement |
Subject | MULTIPLE PROPOSALS |
Description | VSOLAR GROUP BERHAD ("VSOLAR" OR THE "COMPANY") (I) PROPOSED DIVERSIFICATION; (II) PROPOSED SHARE CONSOLIDATION; AND (III) PROPOSED RIGHTS ISSUE WITH WARRANTS |
On behalf of the Board of Directors of the Company (“Board”), M&A Securities Sdn Bhd (“M&A Securities”) wishes to announce that the Company intends to undertake the following proposals:
1. proposed diversification of the business of Vsolar and its subsidiaries (“Vsolar Group” or the “Group”) to include the sales and trading of spare parts for railway vehicles (“Proposed Diversification”);
2. proposed consolidation of every 30 existing ordinary shares in Vsolar (“Vsolar Share(s)” or “Share(s)”) into 1 Share (“Consolidated Share(s)”) (“Proposed Share Consolidation”); and
3. proposed renounceable rights issue of up to 791,850,045 new Shares (“Rights Shares”) together with up to 395,925,022 free detachable warrants in Vsolar (“Warrants C”) on the basis of 4 Rights Shares together with 2 Warrants C for every 1 Consolidated Share held by the entitled shareholders of the Company on an entitlement date to be determined (“Proposed Rights Issue with Warrants”).
The Proposed Diversification, Proposed Share Consolidation and Proposed Rights Issue with Warrants are collectively referred to as the “Proposals”.
The details of the Proposals are set out in the attachment.
This announcement is dated 8 April 2022. |
Please refer attachment below.
Announcement Info
Company Name | VSOLAR GROUP BERHAD |
Stock Name | VSOLAR |
Date Announced | 08 Apr 2022 |
Category | General Announcement for PLC |
Reference Number | GA1-06042022-00056 |