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Rights Issue


EX-date 09 Mar 2016
Entitlement date 11 Mar 2016
Entitlement time 05:00 PM
Entitlement subject Rights Issue
Entitlement description Renounceable rights issue of 157,048,290 new ordinary shares of RM1.00 each in Mega First Corporation Berhad ("MFCB") ("MFCB Shares") ("Rights Shares") at an issue price of RM1.59 per Rights Share, which can be subscribed for at USD0.38 pursuant to the Subscription Option (as defined herein), together with 67,306,410 free detachable warrants ("Warrants") on the basis of seven (7) Rights Shares for every ten (10) MFCB Shares held by the entitled shareholders as at 5.00 p.m. on 11 March 2016 ("Entitlement Date") ("Entitled Shareholders") and three (3) Warrants for every seven (7) Rights Shares subscribed for ("Rights Issue with Warrants")
Period of interest payment   to  
Financial Year End
Share transfer book & register of members will be   to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no Symphony Share Registrars Sdn Bhd Level 6, Symphony House Block D13 Pusat Dagangan Dana 1 Jalan PJU 1A/46 47301 Petaling Jaya Selangor Darul Ehsan Malaysia Tel. No.: +603 7849 0777 Fax No.: +603 7841 8151/52
Payment date
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers 11 Mar 2016
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable) 157,048,290
Entitlement indicator Ratio
Ratio 7 : 10
Rights Issue/Offer Price Malaysian Ringgit (MYR) 1.590
Par Value Malaysian Ringgit (MYR) 1.000

Remarks :
The abridged prospectus, together with the notice of provisional allotment and rights subscription form pursuant to the Rights Issue with Warrants (collectively, the "Documents") will only be despatched to the Entitled Shareholders who have a registered address in Malaysia or who have provided the Share Registrar with a registered address in Malaysia in writing on or before the Entitlement Date.

The Documents are not intended to be, and will not be issued, circulated or distributed in countries or jurisdictions where to do so might constitute a violation of the securities laws or regulations of such countries or jurisdictions. No action has been or will be taken to ensure that either the Rights Issue with Warrants or the Documents comply with the laws of any country or jurisdiction other than the laws of Malaysia.

This Announcement is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States of America ("United States"), Canada or Japan or any other state or jurisdiction where such distribution is unlawful. The Rights Issue with Warrants referred to in this Announcement is not, and under no circumstances shall it be construed as an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale or purchase of securities in any country or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such country or jurisdiction. The Rights Shares with Warrants will be offered and sold only (i) within the United States to "qualified institutional buyers", as defined under Rule 144A under the U.S. Securities Act of 1933, in reliance on the exemption from the registration requirements of the U.S. Securities Act of 1933 provided by Section 4(a)(2) thereunder, and (ii) outside the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act of 1933.

Entitled Shareholders are provided with the subscription option, whereby they can opt to (i) accept their provisional Rights Shares with Warrants either solely in RM or solely in USD, and combination of these currencies is not allowed; and/or (ii) apply for the excess Rights Shares with Warrants either solely in RM or solely in USD, and combination of these currencies is not allowed ("Subscription Option"). For Entitled Shareholders who are residents of Malaysia ("Residents"), it is a condition imposed by Bank Negara Malaysia in respect of the Subscription Option that only Resident Entitled Shareholders with existing USD funds are allowed to subscribe for the Rights Shares in USD and any conversion of RM to USD for the purposes of subscribing for the Rights Shares is not allowed.

This announcement is dated 25 February 2016.

Announcement Info

Stock Name MFCB
Date Announced 25 Feb 2016
Category Entitlement(Notice of Book Closure)
Reference Number ENT-25022016-00004

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