ECO WORLD DEVELOPMENT GROUP BERHAD (“EW BERHAD”)
(I) ACQUISITIONS;
(II) SHARE SPLIT;
(III) SHARE SUBSCRIPTION;
(IV) RENOUNCEABLE RIGHTS ISSUE TOGETHER WITH FREE DETACHABLE WARRANTS;
(V) PLACEMENT;
(VI) ALTERATION AND INCREASE IN AUTHORISED SHARE CAPITAL;
(VII) AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION; AND
(VIII) EXEMPTION FROM A MANDATORY GENERAL OFFER
(COLLECTIVELY REFERRED TO AS THE “CORPORATE EXERCISES”)
Reference is made to EW Berhad’s announcements in relation to the Corporate Exercises, the latest of which was dated 30 April 2015. All capitalised terms used herein shall have the same meaning as those set out in the announcement dated 25 April 2014 in relation to the Corporate Exercises unless otherwise stated.
On behalf of the Board, CIMB, AmInvestment and Maybank IB wish to announce that EW Berhad will be issuing 394,044,000 new EW Berhad Shares, representing approximately 20% of the issued and paid-up share capital of EW Berhad as at the date of this Announcement following a book-build exercise on 7 May 2015. The Placement has attracted strong demand from domestic and foreign investors with the order book being subscribed by 1.41 times over the total number of new EW Berhad Shares available for subscription under the Placement exercise, of which significant orders were from long-term institutional investors.
The Placement Shares will be issued at the Placement Issue Price of RM1.62 for each Placement Share, representing a discount of approximately 8.48% to the closing price of the EW Berhad Shares on 7 May 2015 of RM1.77 per EW Berhad Share. The Placement Issue Price also represents a discount of approximately 9.86% to the 5-day VWAMP of EW Berhad Shares up to and including 7 May 2015 of RM1.7973 per EW Berhad Share.
Accordingly, the gross proceeds raised under the Placement is RM638,351,280. Along with the Share Subscription and the Rights Issue with Warrants which were completed earlier, total proceeds raised from the Corporate Exercises amounted to approximately RM2.8 billion are and will be substantially used to fund the Acquisitions and future land acquisitions and investments, in line with the Group’s growth and expansion plans.
CIMB and Maybank IB are the Joint Global Co-ordinators and the Joint Bookrunners for the Placement, whilst AmInvestment and RHB Investment Bank Berhad are the Joint Bookrunner and Lead Manager for the Placement, respectively.
This announcement is dated 8 May 2015.
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