Bonus, Rights Issues as at 14th March 2012

Filed Under (Other News) by Webmaster on 13-03-2012

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AmFIRST REIT

Announcement date:  March 8, 2012

 

Proposed renounceable rights issue on the basis of three rights units for every five existing units in AmFIRST REIT at an entitlement date to be determined later.

 

Berjaya Corporation

Announcement date:  March 5, 2012

 

Lodgement date: March 19, 2012

 

Renounceable rights issue of up to RM764,240,189 nominal value of 10-year 5% irredeemable convertible unsecured loan stocks (new ICULS) at 100% of its nominal value together with up to 764,240,189 free detachable warrants on the basis of one RM1.00 nominal value of new ICULS and one warrant for every six existing ordinary shares of RM1,00 each held.

 

Berjaya Food

Announcement date: March 2, 2012

 

Proposed renounceable rights issue of up to 118,944,800 ordinary shares of RM0.50 each, together with up to 118,944,800 new free warrants on the basis of four rights shares together with four warrants for every five shares held on an entitlement date to be determined and announced later.

 

CCK Consolidated

Announcement date: February 29, 2012

 

Lodgement date: March 15, 2012

 

Distribution of one treasury share for every fifteen existing ordinary shares of RM0.50 each held.

 

C.I. Holdings Bhd

Announcement date: March 5, 2012

 

Lodgement date: March 20, 2012

 

Capital repayment of RM0.50 per ordinary share of RM1.00 each in C.I. Holdings Bhd.

 

Destini Bhd

Announcement date: February 17, 2012

 

1) Proposed share capital reduction involving the reduction of the par value of each existing ordinary shares of RM0.50 each in Destini to ordinary shares of RM0.10 each by the cancellation of RM0.40 of the par value.

 

2) Proposed renounceable rights issue of 200,000,000 new Destini shares on the basis of five rights shares for every two existing Destini shares held on an entitlement date to be determined later after the proposed capital reduction.

 

Dolomite

Announcement date: January 17, 2012

 

Proposed renounceable rights issue of up to 26,272,721 new redeemable convertible preference shares of RM0.01 each in DCB together with up to 26,272,721 new free detachable warrants at an indicative issue price of RM0.50 per Rights RCPS on the basis of one Rights RCPS together with one warrant for every ten existing ordinary shares of RM0.50 each held in DCB.

 

Ewein Bhd

Announcement date: February 29, 2012

 

Proposed bonus issue of 52,731,300 free warrants in Ewein on the basis of one free warrant for every two existing ordinary shares of RM0.50 each in Ewein held on an entitlement date to be determined later.

 

Fajarbaru Builder Group

Announcement date: February 28, 2012

 

Lodgement date: March 21, 2012

 

Distribution of one treasury share for every thirty five ordinary shares of RM0.50 each held.

 

Fast Track Solution

Announcement date: March 5, 2012

 

Proposed renounceable rights issue of up to 153,747,000 new ordinary shares of RM0.10 each together with up to 102,498,000 free detachable warrants at an indicative issue price of RM0.10 per rights shares on the basis of three rights shares for every two existing ordinary shares of RM0.10 each held together with two free warrants for every three rights shares subscribed at an entitlement date to be determined later.

 

GPRO

Announcement date: January 20, 2012

 

1) Proposed reduction of the issued and paid-up share capital of GPRO involving the cancellation of RM0.09 of the par value of each existing ordinary share of RM0.10 in GPRO pursuant to Section 64 of the Companies Acts, 1965.

 

2) Proposed renounceable rights issue up to 253,994,100 new ordinary shares of RM0.01 each in GPRO together with up to 253,994,100 free new detachable warrants at an issue price of RM0.10 per rights share on the basis of one rights share together with one warrant for every one existing ordinary share of RM0.01 each in GPRO on an entitlement date to be determined and announced later.

 

Haisan Resources

Announcement date: December 21, 2011

 

1) Proposed reduction of Haisan’s issued and paid-up share capital involving the cancellation of RM0.45 of the par value of each existing ordinary share of RM0.50 each in Haisan pursuant to Section 64 of the Companies Act, 1965.

 

2) Proposed renounceable rights issue of up to 268,469,666 new ordinary shares of RM0.05 each in Haisan together with up to 134,234,833 free detachable warrants at an issue price of RM0.05 per rights share on the basis of ten rights shares together with five warrants for every three ordinary shares of RM0.05 each in Haisan held after the proposed capital reduction, based on a minimum subscription level of 80,000,000 rights shares together with 40,000,000 warrants on an entitlement date to be determined and announced later.

 

Hartalega Holdings

Announcement date: February 22, 2012

 

1) Proposed bonus one-for-one.

 

2) Proposed a free warrants issue of up to 74,330,988 free warrants on the basis of one free warrant for every five existing shares hled on the same entitlement date as the proposed bonus issue.

 

Hock Seng Lee

Announcement date: February 28, 2012

 

Lodgement date: March 28, 2012

 

Distribution of share dividend on the basis of one treasury share for every fifty existing ordinary shares of RM0.20 each held, fractions of treasury shares are to be disregarded.

 

Hubline Bhd

Announcement date: March 5, 2012

 

2) Proposed bonus issue of 46,500,000 shares on the basis of one bonus share for every four rights shares subscribed.

 

MBM Resources

Announcement date: February 24, 2012

 

1) Proposed bonus three-for-ten.

 

2) Proposed renounceable rights issue of up to 73,652,300 new shares together with up to 73,652,300 new free detachable warrants on the basis of three rights shares with three free warrants for every ten existing shares held.

 

Meda Inc Bhd

Announcement date: March 7, 2012

 

Proposed bonus issue of up to 131,735,236 free warrants in Meda at an exercise price of RM0.60 per ordinary share of RM0.50 each in Meda at a step-up mechanism whereby the warrants will be adjusted upwards by RM0.10 at the expiry of every two anniversary years from the date of issuance on the basis of one free warrant for every four existing Meda shares held on an entitlement date to be determined later.

 

Melewar

Announcement date: January 31, 2012

 

1) Proposed share capital reduction via the cancellation of RM0.75 of the par value of every existing ordinary share of RM1.00 each in the issued and paid-up share capital of Melewar Industrial Group Bhd (MIG) pursuant to Section 64(1) of the Act.

 

2) Proposed renounceable rights issue of 150,348,539 new MIG shares at an indicative issue price of RM0.40 per rights share on the basis of two rights shares for every three existing MIG shares held on an entitlement date to be determined after the proposed share capital reduction.

 

Notion VTEC Bhd

Announcement date: February 20, 2012

 

1) Proposed bonus three-for-four.

 

2) Proposed issue of up to 46,303,507 free warrants (Warrant B) on the basis of one Warrant B for every four existing shares held.

 

PA Resources

Announcement date: February 24, 2012

 

1) Proposed share capital reduction via the cancellation of RM0.40 of the par value of every existing ordinary shares of RM0.50 each in PA Resources Bhd (PARB) pursuant to Section 64(1) of the Companies Act, 1965 and the credit arising therefrom to be offset against the accumulated losses in PARB.

 

2) Proposed renounceable rights issue of up to 894,623,100 new ordinary shares of RM0.10 each in PARB at an indicative issue price of RM0.10 per rights share on the basis of seven rights shares for every two PARB shares held on an entitlement date to be determined later after the proposed share capital reduction.

 

3) Proposed exemption under paragraph 16.1 of Practice Note 9 Of The Malaysian Code On Take-Overs And Mergers, 2010 to Chong Sze San and the parties acting in concert with him from the obligation to undertake a mandatory take-over offer for all the remaining PARB shares and outstanding warrants of PARB not already held by them pursuant to the proposed rights issue.

 

RCE Capital Bhd

Announcement date: February 14, 2012

 

1) Proposed bonus one-for-two.

 

2) Proposed renounceable rights issue of up to 479,198,444 new redeemable convertible non-cumulative preference shares (RCPS) of RM0.10 each in RCE on the basis of two RCPS for every five shares held after the proposed bonus issue.

 

R&A Telecomunication

Announcement date: March 7, 2012

 

Lodgement date: March 22, 2012

 

Bonus issue of 87,896,600 warrants on the basis of one free warrant for every ten existing ordinary shares of RM0.10 each in R & A held.

 

Saag Consolidated

Announcement date: February 13, 2012

 

1) Proposed restricted issue of a value of RM100 million new ordinary shares of RM0.10 each in Saag at an issue price to be determined later with entitlement to free warrants (Warrants A) on the basis of one free Warrant A for every five restricted issue shares to investor(s) to be identified by the company.

 

2) Proposed issuance of up to 1,380,000,000 free warrants (Warrants B) to loan creditors.

 

3) Proposed renounceable rights issue of up to 3,035,906,443 new ordinary shares of RM0.10 each in Saag at an issue price of RM0.10 per rights share on the basis of seven rights shares for every five existing ordinary shares of RM0.10 each held in Saag at an entitlement date to be determined, together with up to 607,181,289 free detachable warrants (Warrants C) on the basis of one Warrant C for every five rights shares subscribed.

 

Scope Industries

Announcement date: March 1, 2012

 

Proposed issue of up to 59,000,000 free warrants on the basis of two free warrants for every ten ordinary shares of RM0.10 each held.

 

SMPC Corporation

Announcement date: March 8, 2012

 

Lodgement date: March 22, 2012

 

Reduction of RM58,180,469 from the issued and paid-up share capital of SMPC Corporation Bhd (SMPC) pursuant to Section 64(1) of the Companies Act, 1965, by way of cancellation of RM0.90 from the par value of the existing ordinary shares of RM1.00 each in SMPC and thereafter the consolidation of ten ordinary shares of RM0.10 each into one new ordinary share of RM1.00 each.

 

SMR Technologies

Announcement date: February 29, 2012

 

Proposed bonus issue of up to 92,906,999 warrants on the basis of one warrant for every two existing ordinary shares of RM0.10 each held on an entitlement date to be determined later.

 

Tambun

Announcement date: January 19, 2012

 

Proposed renounceable rights issue of up 88,400,000 new ordinary shares of RM0.50 each, together with 44,200,000 new free detachable warrants on the basis of two rights shares and one free warrant for every five existing ordinary shares of RM0.50 each held on an entitlement date to be determined later.

 

Tricubes Bhd

Announcement date: November 18, 2011

 

1) Proposed share premium reduction of up to RM9.93mil under Section 64 of the Companies Act, 1965.

 

2) Proposed private placement of up to 26,800,000 new ordinary shares of RM0.10 each to third party investors to be identified at an issue price to be determined.

 

3) Proposed renounceable rights issue of up to 107,200,000 new shares together with up to 53,600,000 free detachable warrants at an indicative issue price of RM0.10 per rights share on the basis of two rights shares together with one free warrant for every three shares held after the proposed share premium reduction and proposed private placement.

 

XDL

Announcement date: January 18, 2012

 

Proposed bonus one-for-two and renounceable rights issue of up to 241,999,945 warrants at an issue price of RM0.05 per warrant on the basis of one warrant for every two existing shares held by the entitled shareholders of the company on the same entitlement date as the proposed bonus issue

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Berjaya Corp cash call

Filed Under (Business News) by Webmaster on 19-09-2011

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Berjaya Corporation Bhd (B-Corp) today announced that it is proposing to raise some RM700 million from shareholders.

 

It is proposing a rights issue on the basis of one five per cent RM1.00 Irredemable Convertible Loan Stock (ICULS) with one warrant for every six B-Corp shares held.

 

In a statement today, it said this would mean that a B-Corp shareholder holding 6,000 B-Corp shares will be entitled to subscribe for 1,000 five per cent ICULS of RM1.00 each and will also be given 1,000 warrants, free.

 

The shareholders will need to invest only RM1,000.

 

The five per cent ICULS of RM1.00 will be convertible into one new B-Corp share of RM1.00.

 

In the meantime, the five per cent ICULS will earn the holder interest at five per cent per annum.

 

Similarly, each warrant will entitle the holder to subscribe for one new B-Corp share at RM1.00.

 

Both, the five per cent ICULS and warrants will have a tenure of 10 years.

 

The proceeds from the rights issue will be substantially utilised to part repay (RM656.0 million) the loan to be taken for the proposed privatisation of Cosway Corporation Ltd (CCL).

 

B-Corp had on July 7 announced its intention to privatise CCL by offering its shareholders and ICULS holders HK$1.10 per HK$0.20 share or per HK$0.20 ICULS.

 

Tan Sri Vincent Tan holds in total, both directly and indirectly, about 445.75 million CCL shares and 565 million CCL ICULS which if sold under the privatisation offer will generate about HK$1.11 billion or about RM431 million at today’s exchange rate.

 

In addition, Rayvin Tan Yeong Sheik, a son of Tan will also stand to receive about RM191.8 million based on his stake of 227.25 million CCL ICULS and 221.7 million CCL shares.

 

On the question of what he intends to do with the RM431 million which he stands to receive from the sale of his CCL stakes, Tan revealed that he has given his irrevocable commitment to subscribe in full to the B-Corp rights issue entitlements arising from all the B-Corp shares held by him, both personally and through his private companies.

 

In addition, he and his son, Rayvin Tan have also committed to apply for excess rights ICULS.

 

In all, their combined irrevocable undertakings total RM560 million.

 

Assuming an underwriting fee of say, two per cent, this will save the company RM11.2 million.

 

B-Corp had also stated in the announcement that it has set RM660 million as the minimum subscription level for the rights issue to succeed.

 

This means the company will need to procure underwriters for at least RM100 million of the five per cent ICULS.

 

When asked if he was confident of the participation of underwriters to ensure the success of the rights issue, Tan expressed his hope that the underwriters will take into account his and Rayvin Tan’s undertakings to commit RM560 million as well as the group’s strong underlying fundamentals.

 

 

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Berjaya Corporation received license to manufacture vehicles

Filed Under (Business News) by Webmaster on 20-10-2010

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Berjaya Corp Bhd (BCorp) (3395) has obtained a licence to manufacture passenger and commercial vehicles at a factory to be built in Selangor, but the rights do not cover small cars that the diversified group is more interested in.

BCorp said yesterday that the Ministry of International Trade and Industry’s licence is for the production of commercial vehicles, hybrid cars, electric cars and luxury passenger vehicles.

BCorp wanted to partner China’s BYD Auto to develop 1-litre cars for the domestic and Asean markets at a new factory on 41ha in Bukit Tagar.

BCorp and BYD Auto had signed a memorandum of understanding to develop the latter’s F0 model in February this year.

F0 retails at between US$4,000 (RM13,778) and US$5,000 (RM17,222) in China.

The government, however, does not plan to relax rules under the National Automotive Policy, which only allows new manufacturing licence for cars with capacity of 1.8 litres and above.

A BCorp spokesperson said plans to assemble BYD vehicles had not been shelved.

“Our motor division is still in talks (with BYD on the prospect),” she said when contacted yesterday.

BYD Auto, which counts famous US investor Warren Buffet among its shareholders, is the fourth biggest carmaker in China by volume, after Volkswagen, General Motors and Toyota.

Last year, BYD Auto sold 450,000 vehicles.

Commenting on the licence, BCorp chairman and chief executive officer Tan Sri Vincent Tan said it will provide the group the opportunity to assemble commercial and passenger vehicles locally. This will give it more flexibility and control over quality and pricing of its vehicles.

“Besides strategically complementing and widening our existing range of motor brands, this will also be a good opportunity for Berjaya Corp to promote green technology through the development of hybrid and electric vehicles, which are more environmentally friendly.

“In line with this, we hope to expand our market share and develop a bigger global presence,” Tan said in a statement yesterday.

The Berjaya group has considerable experience in the motor vehicle business, with rights to distribute, market and sell world-renown brands such as Aston Martin, Mazda, Skoda, Mercedes-Benz commercial vehicles and China’s Chana and Jinbei.

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