MULTIPLE PROPOSALS EXSIM HOSPITALITY BERHAD (FORMERLY KNOWN AS PAN MALAYSIA HOLDINGS BERHAD) (“EHB” OR “COMPANY”) (I) PROPOSED RIGHTS ISSUE WITH WARRANTS; AND (II) PROPOSED ACQUISITION (COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)
| EXSIM HOSPITALITY BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | EXSIM HOSPITALITY BERHAD (FORMERLY KNOWN AS PAN MALAYSIA HOLDINGS BERHAD) (“EHB” OR “COMPANY”) (I) PROPOSED RIGHTS ISSUE WITH WARRANTS; AND (II) PROPOSED ACQUISITION (COLLECTIVELY REFERRED TO AS THE “PROPOSALS”) |
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On behalf of the Board of Directors of EHB, AmInvestment Bank Berhad (“AmInvestment Bank”) and Maybank Investment Bank Berhad (“Maybank IB”) wish to announce that the Company proposes to undertake the following:
(I) proposed renounceable rights issue of new ordinary shares in EHB (“Shares” or “EHB Shares”) (“Rights Share(s)”) together with free detachable warrants (“Warrants”) at an issue price and entitlement basis to be determined and announced later, to raise gross proceeds of approximately RM250.79 million (“Proposed Rights Issue with Warrants”); and
(II) proposed acquisition of a proposed 5-star rated hotel tower together with retail podium known as Tower E, comprising 294 hotel rooms, a restaurant, a ballroom, swimming pool, retail spaces and other supporting facilities which form part of the mixed development project known as Empire City, Damansara (“Empire City”) located in Petaling Jaya, Selangor (“Subject Property - Partial Tower E Building”) for a cash consideration of RM240.25 million (“Purchase Consideration”) (“Proposed Acquisition”).
Please refer to the attachment for further details on the Proposals.
This announcement is dated 28 February 2025. |
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Please refer attachment below.
Announcement Info
| Company Name | EXSIM HOSPITALITY BERHAD |
| Stock Name | EXSIMHB |
| Date Announced | 28 Feb 2025 |
| Category | General Announcement for PLC |
| Reference Number | GA1-28022025-00060 |