Announcements


Date: 17 October 2017

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING RIGHTS ISSUE OF ICPS WITH WARRANTS


Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description RIGHTS ISSUE OF ICPS WITH WARRANTS

(For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcement dated 11 August 2017 in relation to the Rights Issue of ICPS with Warrants.)

On behalf of the Board, Mercury Securities wishes to announce that the Company has resolved to fix the issue price of the ICPS at RM0.08 per ICPS ("Issue Price") and the exercise price of the Warrants B at RM0.15 per Warrant B ("Exercise Price").

The Board had fixed the Issue Price after taking into consideration the following:-

(i)         the funding requirements of the Group;

(ii)         the TEAP of ABT Shares based on the 5-day VWAP of ABT Shares up to and including 16 October 2017, being the last trading day before the price-fixing date ("LTD"); and

(ii)         the rationale for the Proposed Rights Issue of ICPS with Warrants, details of which are set out in Section 4 of the circular to shareholders of the Company in relation to the Rights Issue of ICPS with Warrants dated 30 August 2017.

Based on the Issue Price and the Conversion Ratio of 2 ICPS for every 1 new Share, the Conversion Price of RM0.16 represents a discount of approximately 13.24% to the TEAP of ABT Shares of RM0.1844, calculated based on the 5-day VWAP of ABT Shares up to and including the LTD of RM0.2157. The Conversion Price approximates the current market price of ABT Shares.

The Board had fixed the Exercise Price after taking into consideration, amongst others, the TEAP of ABT Shares and the prevailing market prices of ABT Shares. The Exercise Price represents a discount of approximately 18.66% to the aforementioned TEAP.

This announcement is dated 17 October 2017.





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