KBB - Change in Audit Committee
Announcement Type: Change in Audit Committee
Company Name: KBB RESOURCES BERHAD
Stock Name: KBB
Date Announced: 20/08/2010
Announcement Detail:
Date of change: 20/08/2010
Type of change: Appointment
Designation: Member of Audit Committee
Directorate: Independent & Non Executive
Name: KHOR WOOI LIP
Age: 36
Nationality: Malaysian
Qualifications: 1. Certificate in Business Studies - Stamford College
2. Diploma in Administration in Business Executive - Stamford College
Working experience and occupation: Mr Khor is currently the project manager of Bio Cosmic Sdn Bhd. He commenced his career as marketing personnel for MBF Finance Berhad in year 1995. Thereafter, he joined Citibank as marketing executive in year 1996. In September 1996, he joined Bio Cosmic Sdn Bhd as sales executive and was subsequently promoted to the position of product manager in year 2006.
Directorship of public companies (if any): Nil
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
Composition of Audit Committee (Name and Directorate of members after change): Chairman
- See Toh Kean Yaw
Members
- Dato' Sri Md Kamal Bin Bilal
- Khor Wooi Lip
Company Name: KBB RESOURCES BERHAD
Stock Name: KBB
Date Announced: 20/08/2010
Announcement Detail:
Date of change: 20/08/2010
Type of change: Appointment
Designation: Member of Audit Committee
Directorate: Independent & Non Executive
Name: KHOR WOOI LIP
Age: 36
Nationality: Malaysian
Qualifications: 1. Certificate in Business Studies - Stamford College
2. Diploma in Administration in Business Executive - Stamford College
Working experience and occupation: Mr Khor is currently the project manager of Bio Cosmic Sdn Bhd. He commenced his career as marketing personnel for MBF Finance Berhad in year 1995. Thereafter, he joined Citibank as marketing executive in year 1996. In September 1996, he joined Bio Cosmic Sdn Bhd as sales executive and was subsequently promoted to the position of product manager in year 2006.
Directorship of public companies (if any): Nil
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
Composition of Audit Committee (Name and Directorate of members after change): Chairman
- See Toh Kean Yaw
Members
- Dato' Sri Md Kamal Bin Bilal
- Khor Wooi Lip
VINTAGE - VTI VINTAGE BERHAD ("VVB" or "the Company") - Letter of Award
Announcement Type: General Announcement
Company Name: VTI VINTAGE BERHAD
Stock Name: VINTAGE
Date Announced: 20/08/2010
Announcement Detail:
Type: Announcement
Subject: VTI VINTAGE BERHAD ("VVB" or "the Company")
- Letter of Award
Contents: 1. INTRODUCTION
The Board of Directors of VVB is pleased to announce that Vintage Roofing & Construction Sdn Bhd ("VRC"), a wholly-owned subsidiary of VVB, had on 20 August 2010, accepted a letter of award from Fitters Engineering Services Sdn Bhd ("FESSB") as sub-contractor for the proposed construction of the superstructural works for 4th, 5th and 6th Floor at Lot 26220, Jalan Genting Klang, Taman Danau Kota, Mukim Setapak, Kuala Lumpur for a contract sum of RM20,527,239.88 (Ringgit Malaysia : Twenty Million Five Hundred Twenty Seven Thousand Two Hundred Thirty Nine and Cents Eighty Eight Only) ("Proposed Contract").
2. DURATION OF CONTRACT
The Proposed Contract is for a period of Twenty Six (26) weeks. The commencement of the Proposed Contract shall be on 20 August 2010 and the date of completion shall be on or before 17 February 2011.
3. FINANCIAL EFFECTS
The Proposed Contract is expected to contribute positively to the earnings of the VVB group.
4. APPROVAL REQUIRED
The Board of Directors, after due consideration, is of the opinion that the Proposed Contract is in the best interest of the Company. The Proposed Contract being incurred in the ordinary course of business, is not subject to the approval of the shareholders.
5. DIRECTORS' AND MAJOR SHAREHOLDERS' INTEREST
None of the Directors or major shareholders or persons connected to the Directors or major shareholders has any direct or indirect interest in the Proposed Contract.
This announcement is dated 20 August 2010.
Company Name: VTI VINTAGE BERHAD
Stock Name: VINTAGE
Date Announced: 20/08/2010
Announcement Detail:
Type: Announcement
Subject: VTI VINTAGE BERHAD ("VVB" or "the Company")
- Letter of Award
Contents: 1. INTRODUCTION
The Board of Directors of VVB is pleased to announce that Vintage Roofing & Construction Sdn Bhd ("VRC"), a wholly-owned subsidiary of VVB, had on 20 August 2010, accepted a letter of award from Fitters Engineering Services Sdn Bhd ("FESSB") as sub-contractor for the proposed construction of the superstructural works for 4th, 5th and 6th Floor at Lot 26220, Jalan Genting Klang, Taman Danau Kota, Mukim Setapak, Kuala Lumpur for a contract sum of RM20,527,239.88 (Ringgit Malaysia : Twenty Million Five Hundred Twenty Seven Thousand Two Hundred Thirty Nine and Cents Eighty Eight Only) ("Proposed Contract").
2. DURATION OF CONTRACT
The Proposed Contract is for a period of Twenty Six (26) weeks. The commencement of the Proposed Contract shall be on 20 August 2010 and the date of completion shall be on or before 17 February 2011.
3. FINANCIAL EFFECTS
The Proposed Contract is expected to contribute positively to the earnings of the VVB group.
4. APPROVAL REQUIRED
The Board of Directors, after due consideration, is of the opinion that the Proposed Contract is in the best interest of the Company. The Proposed Contract being incurred in the ordinary course of business, is not subject to the approval of the shareholders.
5. DIRECTORS' AND MAJOR SHAREHOLDERS' INTEREST
None of the Directors or major shareholders or persons connected to the Directors or major shareholders has any direct or indirect interest in the Proposed Contract.
This announcement is dated 20 August 2010.
GUNUNG - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: MIMB INVESTMENT BANK BERHAD
Company Name: GUNUNG CAPITAL BERHAD
Stock Name: GUNUNG
Date Announced: 20/08/2010
Announcement Detail:
Type: Announcement
Subject: GUNUNG CAPITAL BERHAD ("GUNUNG" OR "COMPANY")
- PROPOSED CAPITAL REDUCTION;
- PROPOSED ACQUISITION;
- PROPOSED RIGHTS ISSUE; AND
- PROPOSED M&A AMENDMENTS
(COLLECTIVELY, THE "PROPOSALS")
Contents: Reference is made to the announcement dated 19 August 2010 in relation to the Proposals.
On behalf of the Board of Directors of Gunung, MIMB Investment Bank Berhad wishes to announce that the sealed order of the High Court of Malaya in Taiping, Perak dated 17 August 2010, in relation to the confirmation of the Proposed Capital Reduction, has been extracted on 19 August 2010.
Please note that the order granted by the High Court of Malaya for the Proposed Capital Reduction, as announced on 19 August 2010, should be read as "the High Court of Malaya in Taiping, Perak" instead of "the High Court of Malaya in Kuala Lumpur".
This announcement is dated 20 August 2010.
Submitting Merchant Bank: MIMB INVESTMENT BANK BERHAD
Company Name: GUNUNG CAPITAL BERHAD
Stock Name: GUNUNG
Date Announced: 20/08/2010
Announcement Detail:
Type: Announcement
Subject: GUNUNG CAPITAL BERHAD ("GUNUNG" OR "COMPANY")
- PROPOSED CAPITAL REDUCTION;
- PROPOSED ACQUISITION;
- PROPOSED RIGHTS ISSUE; AND
- PROPOSED M&A AMENDMENTS
(COLLECTIVELY, THE "PROPOSALS")
Contents: Reference is made to the announcement dated 19 August 2010 in relation to the Proposals.
On behalf of the Board of Directors of Gunung, MIMB Investment Bank Berhad wishes to announce that the sealed order of the High Court of Malaya in Taiping, Perak dated 17 August 2010, in relation to the confirmation of the Proposed Capital Reduction, has been extracted on 19 August 2010.
Please note that the order granted by the High Court of Malaya for the Proposed Capital Reduction, as announced on 19 August 2010, should be read as "the High Court of Malaya in Taiping, Perak" instead of "the High Court of Malaya in Kuala Lumpur".
This announcement is dated 20 August 2010.
MAHSING - General Announcement
Announcement Type: General Announcement
Company Name: MAH SING GROUP BERHAD
Stock Name: MAHSING
Date Announced: 20/08/2010
Announcement Detail:
Type: Announcement
Subject: MAH SING GROUP BERHAD ("MAH SING" OR "COMPANY")
PROPOSED ACQUISITION OF A FREEHOLD COMMERCIAL LAND MEASURING APPROXIMATELY 25,570 SQUARE METRES (6.32 ACRES) ("LAND"), ADJACENT TO THE 115.25 ACRES GARDEN RESIDENCE IN CYBERJAYA, THROUGH MAH SING'S WHOLLY-OWNED SUBSIDIARY, MYVILLA DEVELOPMENT SDN BHD FROM CYBERVIEW SDN BHD AND SETIA HARUMAN SDN BHD AT A CASH CONSIDERATION OF RM21,743,422.00 ("PROPOSED ACQUISITION")
Contents: Further to our announcements on 22 February 2010, 2 April 2010 and 15 July 2010, the Board of Directors of Mah Sing wishes to announce that the Proposed Acquisition has been completed.
This announcement is dated 20 August 2010.
Company Name: MAH SING GROUP BERHAD
Stock Name: MAHSING
Date Announced: 20/08/2010
Announcement Detail:
Type: Announcement
Subject: MAH SING GROUP BERHAD ("MAH SING" OR "COMPANY")
PROPOSED ACQUISITION OF A FREEHOLD COMMERCIAL LAND MEASURING APPROXIMATELY 25,570 SQUARE METRES (6.32 ACRES) ("LAND"), ADJACENT TO THE 115.25 ACRES GARDEN RESIDENCE IN CYBERJAYA, THROUGH MAH SING'S WHOLLY-OWNED SUBSIDIARY, MYVILLA DEVELOPMENT SDN BHD FROM CYBERVIEW SDN BHD AND SETIA HARUMAN SDN BHD AT A CASH CONSIDERATION OF RM21,743,422.00 ("PROPOSED ACQUISITION")
Contents: Further to our announcements on 22 February 2010, 2 April 2010 and 15 July 2010, the Board of Directors of Mah Sing wishes to announce that the Proposed Acquisition has been completed.
This announcement is dated 20 August 2010.
GADANG - Important Relevant Dates for Renounceable Rights
Announcement Type: Important Relevant Dates for Renounceable Rights
Submitting Merchant Bank: CIMB INVESTMENT BANK BERHAD
Company Name: GADANG HOLDINGS BHD
Stock Name: GADANG
Date Announced: 20/08/2010
Announcement Detail:
Title / Description: RENOUNCEABLE TWO-CALL RIGHTS ISSUE OF UP TO 78,677,194 NEW ORDINARY SHARES OF RM1.00 EACH ("SHARES") IN GADANG ("RIGHTS SHARES") ON THE BASIS OF TWO (2) RIGHTS SHARES FOR EVERY THREE (3) EXISTING SHARES IN GADANG ("GADANG SHARES'') TOGETHER WITH UP TO 19,669,299 FREE DETACHABLE WARRANTS ("WARRANTS") ON THE BASIS OF ONE (1) WARRANT FOR EVERY FOUR (4) RIGHTS SHARES HELD IN GADANG AT AN ISSUE PRICE OF RM1.00 PER RIGHTS SHARE, OF WHICH THE FIRST CALL OF RM0.65 IS PAYABLE IN CASH ON APPLICATION AND THE SECOND CALL OF RM0.35 IS TO BE CAPITALISED FROM GADANG'S SHARE PREMIUM AND RETAINED PROFITS ACCOUNTS ("RIGHTS ISSUE")
Despatch Date: 08/09/2010
Remarks: The last date and time for acceptance and payment, and excess application and payment may be varied as the Board of Directors of Gadang and its adviser may mutually decide in their absolute discretion and announce not less than two (2) market days before the stipulated date and time.
This announcement is dated 20 August 2010
Submitting Merchant Bank: CIMB INVESTMENT BANK BERHAD
Company Name: GADANG HOLDINGS BHD
Stock Name: GADANG
Date Announced: 20/08/2010
Announcement Detail:
Title / Description: RENOUNCEABLE TWO-CALL RIGHTS ISSUE OF UP TO 78,677,194 NEW ORDINARY SHARES OF RM1.00 EACH ("SHARES") IN GADANG ("RIGHTS SHARES") ON THE BASIS OF TWO (2) RIGHTS SHARES FOR EVERY THREE (3) EXISTING SHARES IN GADANG ("GADANG SHARES'') TOGETHER WITH UP TO 19,669,299 FREE DETACHABLE WARRANTS ("WARRANTS") ON THE BASIS OF ONE (1) WARRANT FOR EVERY FOUR (4) RIGHTS SHARES HELD IN GADANG AT AN ISSUE PRICE OF RM1.00 PER RIGHTS SHARE, OF WHICH THE FIRST CALL OF RM0.65 IS PAYABLE IN CASH ON APPLICATION AND THE SECOND CALL OF RM0.35 IS TO BE CAPITALISED FROM GADANG'S SHARE PREMIUM AND RETAINED PROFITS ACCOUNTS ("RIGHTS ISSUE")
Despatch Date: 08/09/2010
Remarks: The last date and time for acceptance and payment, and excess application and payment may be varied as the Board of Directors of Gadang and its adviser may mutually decide in their absolute discretion and announce not less than two (2) market days before the stipulated date and time.
This announcement is dated 20 August 2010
GADANG - Rights Issue
Announcement Type: Entitlements (Notice of Book Closure)
Submitting Merchant Bank: CIMB INVESTMENT BANK BERHAD
Company Name: GADANG HOLDINGS BHD
Stock Name: GADANG
Date Announced: 20/08/2010
Announcement Detail:
EX-date: 02/09/2010
Entitlement date: 06/09/2010
Entitlement time: 05:00:00 PM
Entitlement subject: Rights Issue
Entitlement description: RENOUNCEABLE TWO-CALL RIGHTS ISSUE OF UP TO 78,677,194 NEW ORDINARY SHARES OF RM1.00 EACH ("SHARES") IN GADANG ("RIGHTS SHARES") ON THE BASIS OF TWO (2) RIGHTS SHARES FOR EVERY THREE (3) EXISTING SHARES IN GADANG ("GADANG SHARES'') TOGETHER WITH UP TO 19,669,299 FREE DETACHABLE WARRANTS ("WARRANTS") ON THE BASIS OF ONE (1) WARRANT FOR EVERY FOUR (4) RIGHTS SHARES HELD IN GADANG AT AN ISSUE PRICE OF RM1.00 PER RIGHTS SHARE, OF WHICH THE FIRST CALL OF RM0.65 IS PAYABLE IN CASH ON APPLICATION AND THE SECOND CALL OF RM0.35 IS TO BE CAPITALISED FROM GADANG'S SHARE PREMIUM AND RETAINED PROFITS ACCOUNTS ("RIGHTS ISSUE")
Period of interest payment: to
Share transfer book & register of members will be: 06/09/2010 to 06/09/2010 closed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone no: Tricor Investor Services Sdn Bhd
(formerly known as Tenaga Koperat Sdn Bhd)
Level 17, The Gardens North Tower
Mid Valley City
Lingkaran Syed Putra
59200 Kuala Lumpur
Tel: 03-2264 3883 Fax: 03-2282 1886
Email: is.enquiry@my.tricorglobal.com
Payment date: 23/09/2010
a. Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers: 06/09/2010
Number of new shares/securities issued (units) (If applicable): 78677194
Entitlement indicator: Ratio
Ratio: 2 : 3
Rights Issues/Offer Price: 1
Remarks: (Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in our announcement dated 10 February 2010)
The Abridged Prospectus, together with the Rights Subscription Form and the Notice of Provisional Allotment (collectively the "Documents") will be despatched on 8 September 2010 to the entitled shareholders of Gadang whose names appear in the Record of Depositors of Gadang ("Entitled Shareholders") as at 5.00 p.m. on 6 September 2010 ("Entitlement Date").
The Documents are not intended to be (and will not be made to) issued, circulated or distributed in countries or jurisdictions other than Malaysia and no action has been or will be taken to ensure that the Rights Issue complies with the laws of any countries or jurisdictions other than the laws of Malaysia.
Entitled Shareholders and/or their renouncees (if applicable) who are residents in countries or jurisdictions other than Malaysia should therefore immediately consult their legal advisers and other professional advisers as to whether the acceptance or renunciation (as the case may be) of their entitlements to the Rights Issue, or the subscription, offer, sale, resale, pledge or other transfer of the Rights Shares would result in the contravention of any laws of such countries or jurisdictions.
Entitled Shareholders who do not have a registered address in Malaysia as stated in Gadang's Record of Depositors on the Entitlement Date ("Foreign-Addressed Shareholders") are requested to provide their registered address in Malaysia to the Share Registrar of Gadang on or prior to the Entitlement Date in order to be able to receive the Documents relating to the Rights Issue. However, such Foreign-Addressed Shareholders may collect the Documents from Gadang's Share Registrar, which shall be entitled to request for such evidence as it deems necessary to satisfy itself as to the identity and authority of the person collecting the Documents relating to the Rights Issue.
This announcement is dated 20 August 2010
Submitting Merchant Bank: CIMB INVESTMENT BANK BERHAD
Company Name: GADANG HOLDINGS BHD
Stock Name: GADANG
Date Announced: 20/08/2010
Announcement Detail:
EX-date: 02/09/2010
Entitlement date: 06/09/2010
Entitlement time: 05:00:00 PM
Entitlement subject: Rights Issue
Entitlement description: RENOUNCEABLE TWO-CALL RIGHTS ISSUE OF UP TO 78,677,194 NEW ORDINARY SHARES OF RM1.00 EACH ("SHARES") IN GADANG ("RIGHTS SHARES") ON THE BASIS OF TWO (2) RIGHTS SHARES FOR EVERY THREE (3) EXISTING SHARES IN GADANG ("GADANG SHARES'') TOGETHER WITH UP TO 19,669,299 FREE DETACHABLE WARRANTS ("WARRANTS") ON THE BASIS OF ONE (1) WARRANT FOR EVERY FOUR (4) RIGHTS SHARES HELD IN GADANG AT AN ISSUE PRICE OF RM1.00 PER RIGHTS SHARE, OF WHICH THE FIRST CALL OF RM0.65 IS PAYABLE IN CASH ON APPLICATION AND THE SECOND CALL OF RM0.35 IS TO BE CAPITALISED FROM GADANG'S SHARE PREMIUM AND RETAINED PROFITS ACCOUNTS ("RIGHTS ISSUE")
Period of interest payment: to
Share transfer book & register of members will be: 06/09/2010 to 06/09/2010 closed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone no: Tricor Investor Services Sdn Bhd
(formerly known as Tenaga Koperat Sdn Bhd)
Level 17, The Gardens North Tower
Mid Valley City
Lingkaran Syed Putra
59200 Kuala Lumpur
Tel: 03-2264 3883 Fax: 03-2282 1886
Email: is.enquiry@my.tricorglobal.com
Payment date: 23/09/2010
a. Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers: 06/09/2010
Number of new shares/securities issued (units) (If applicable): 78677194
Entitlement indicator: Ratio
Ratio: 2 : 3
Rights Issues/Offer Price: 1
Remarks: (Unless otherwise stated, all definitions and terms used in this announcement shall have the same meaning as defined in our announcement dated 10 February 2010)
The Abridged Prospectus, together with the Rights Subscription Form and the Notice of Provisional Allotment (collectively the "Documents") will be despatched on 8 September 2010 to the entitled shareholders of Gadang whose names appear in the Record of Depositors of Gadang ("Entitled Shareholders") as at 5.00 p.m. on 6 September 2010 ("Entitlement Date").
The Documents are not intended to be (and will not be made to) issued, circulated or distributed in countries or jurisdictions other than Malaysia and no action has been or will be taken to ensure that the Rights Issue complies with the laws of any countries or jurisdictions other than the laws of Malaysia.
Entitled Shareholders and/or their renouncees (if applicable) who are residents in countries or jurisdictions other than Malaysia should therefore immediately consult their legal advisers and other professional advisers as to whether the acceptance or renunciation (as the case may be) of their entitlements to the Rights Issue, or the subscription, offer, sale, resale, pledge or other transfer of the Rights Shares would result in the contravention of any laws of such countries or jurisdictions.
Entitled Shareholders who do not have a registered address in Malaysia as stated in Gadang's Record of Depositors on the Entitlement Date ("Foreign-Addressed Shareholders") are requested to provide their registered address in Malaysia to the Share Registrar of Gadang on or prior to the Entitlement Date in order to be able to receive the Documents relating to the Rights Issue. However, such Foreign-Addressed Shareholders may collect the Documents from Gadang's Share Registrar, which shall be entitled to request for such evidence as it deems necessary to satisfy itself as to the identity and authority of the person collecting the Documents relating to the Rights Issue.
This announcement is dated 20 August 2010
GADANG - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: CIMB INVESTMENT BANK BERHAD
Company Name: GADANG HOLDINGS BHD
Stock Name: GADANG
Date Announced: 20/08/2010
Announcement Detail:
Type: Announcement
Subject: GADANG HOLDINGS BERHAD ("GADANG" OR "COMPANY")
RENOUNCEABLE TWO-CALL RIGHTS ISSUE OF UP TO 78,677,194 NEW ORDINARY SHARES OF RM1.00 EACH ("SHARES") IN GADANG ("RIGHTS SHARES") ON THE BASIS OF TWO (2) RIGHTS SHARES FOR EVERY THREE (3) EXISTING SHARES IN GADANG ("GADANG SHARES'') TOGETHER WITH UP TO 19,669,299 FREE DETACHABLE WARRANTS ("WARRANTS") ON THE BASIS OF ONE (1) WARRANT FOR EVERY FOUR (4) RIGHTS SHARES HELD IN GADANG AT AN ISSUE PRICE OF RM1.00 PER RIGHTS SHARE, OF WHICH THE FIRST CALL OF RM0.65 IS PAYABLE IN CASH ON APPLICATION AND THE SECOND CALL OF RM0.35 IS TO BE CAPITALISED FROM GADANG'S SHARE PREMIUM AND RETAINED PROFITS ACCOUNTS ("RIGHTS ISSUE")
Contents: We refer to the announcement dated 18 August 2010 in relation to the Rights Issue.
On behalf of the Board of Directors of Gadang ("Board"), we wish to announce that the issue price for the Rights Shares has been fixed at RM1.00, payable in full in the following manner:
(i) the first call price of RM0.65 per Rights Share shall be payable in full on application in cash ("First Call"); and
(ii) the second call of RM0.35 per Rights Share shall be capitalised from the Company's share premium and retained profits accounts.
The subscribing entitled shareholders of Gadang will not be required to make any further cash payment after the payment for the First Call.
In addition, the exercise price for the Warrants has been fixed at RM1.00 per Warrant for each new Gadang Share.
The issue price of RM1.00 per Rights Share, the First Call price of RM0.65 per Rights Share and the exercise price of RM1.00 per Warrant were determined by the Board after taking into consideration, among others, the theoretical ex-rights price of Gadang Shares of RM0.85, based on the 5-day volume weighted average market price of Gadang of RM0.98 up to and including 19 August 2010.
The First Call price of RM0.65 per Rights Share and the exercise price of RM1.00 per Warrant represent a discount of 23.53% and a premium of 17.65% respectively from the theoretical ex-rights price of Gadang Shares of RM0.85, based on the 5-day volume weighted average market price of Gadang of RM0.98 up to and including 19 August 2010.
On behalf of the Board, we also wish to announce that the deed poll constituting the Warrants has been executed today.
This announcement is dated 20 August 2010.
Submitting Merchant Bank: CIMB INVESTMENT BANK BERHAD
Company Name: GADANG HOLDINGS BHD
Stock Name: GADANG
Date Announced: 20/08/2010
Announcement Detail:
Type: Announcement
Subject: GADANG HOLDINGS BERHAD ("GADANG" OR "COMPANY")
RENOUNCEABLE TWO-CALL RIGHTS ISSUE OF UP TO 78,677,194 NEW ORDINARY SHARES OF RM1.00 EACH ("SHARES") IN GADANG ("RIGHTS SHARES") ON THE BASIS OF TWO (2) RIGHTS SHARES FOR EVERY THREE (3) EXISTING SHARES IN GADANG ("GADANG SHARES'') TOGETHER WITH UP TO 19,669,299 FREE DETACHABLE WARRANTS ("WARRANTS") ON THE BASIS OF ONE (1) WARRANT FOR EVERY FOUR (4) RIGHTS SHARES HELD IN GADANG AT AN ISSUE PRICE OF RM1.00 PER RIGHTS SHARE, OF WHICH THE FIRST CALL OF RM0.65 IS PAYABLE IN CASH ON APPLICATION AND THE SECOND CALL OF RM0.35 IS TO BE CAPITALISED FROM GADANG'S SHARE PREMIUM AND RETAINED PROFITS ACCOUNTS ("RIGHTS ISSUE")
Contents: We refer to the announcement dated 18 August 2010 in relation to the Rights Issue.
On behalf of the Board of Directors of Gadang ("Board"), we wish to announce that the issue price for the Rights Shares has been fixed at RM1.00, payable in full in the following manner:
(i) the first call price of RM0.65 per Rights Share shall be payable in full on application in cash ("First Call"); and
(ii) the second call of RM0.35 per Rights Share shall be capitalised from the Company's share premium and retained profits accounts.
The subscribing entitled shareholders of Gadang will not be required to make any further cash payment after the payment for the First Call.
In addition, the exercise price for the Warrants has been fixed at RM1.00 per Warrant for each new Gadang Share.
The issue price of RM1.00 per Rights Share, the First Call price of RM0.65 per Rights Share and the exercise price of RM1.00 per Warrant were determined by the Board after taking into consideration, among others, the theoretical ex-rights price of Gadang Shares of RM0.85, based on the 5-day volume weighted average market price of Gadang of RM0.98 up to and including 19 August 2010.
The First Call price of RM0.65 per Rights Share and the exercise price of RM1.00 per Warrant represent a discount of 23.53% and a premium of 17.65% respectively from the theoretical ex-rights price of Gadang Shares of RM0.85, based on the 5-day volume weighted average market price of Gadang of RM0.98 up to and including 19 August 2010.
On behalf of the Board, we also wish to announce that the deed poll constituting the Warrants has been executed today.
This announcement is dated 20 August 2010.
PLS - Change Of Company Secretary
Announcement Type: Change Of Company Secretary
Company Name: PLS PLANTATIONS BERHAD
Stock Name: PLS
Date Announced: 20/08/2010
Announcement Detail:
Date of change: 20/08/2010
Type of change: Appointment
Designation: Joint Secretary
License no.: MAICSA 7052174
Name: TIONG LING LING
Company Name: PLS PLANTATIONS BERHAD
Stock Name: PLS
Date Announced: 20/08/2010
Announcement Detail:
Date of change: 20/08/2010
Type of change: Appointment
Designation: Joint Secretary
License no.: MAICSA 7052174
Name: TIONG LING LING
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