Announcement

Date: 12 February 2008

Submitting Merchant Bank
:
RHB INVESTMENT BANK BERHAD  
Company Name
:
RCE CAPITAL BERHAD
Stock Name
:
RCECAP  
Date Announced
:
12/02/2008  


Type
:
Announcement
Subject
:
RCE CAPITAL BERHAD ("RCE")
Proposed private placement of up to 64,633,700 new ordinary shares of RM0.10 each in RCE ("Placement Shares"), representing approximately up to 10% of the existing issued and paid-up share capital of RCE ("Proposed Placement")

Contents
:
Further to the announcement dated 5 February 2008 in relation to the Proposed Placement, RHB Investment Bank Berhad ("RHB Investment Bank") is pleased to announce on behalf of the Board of Directors of RCE that the Securities Commission ("SC") has, vide its letter dated 6 February 2008 (which was received on 11 February 2008), approved the Proposed Placement pursuant to:

(i) Section 212(5) of the Capital Market Services Act 2007 ("CMSA"); and

(ii) the Guidelines on the Acquisition of Interests, Mergers and Take-overs by Local and Foreign Interests issued by the Foreign Investment Committee.

The SC's approvals for the Proposed Placement are subject to the following conditions:

(i) RHB Investment Bank/RCE should fully comply with the relevant provisions in Guidance Note 8C and other relevant requirements under the SC's Policies and Guidelines on Issue/Offer of Securities, pertaining to the implementation of the Proposed Placement;

(ii) At least 30% of the Placement Shares must be placed out to Bumiputera investors;

(iii) RHB Investment Bank/RCE to submit the list of placees to the SC upon completion of the Proposed Placement; and

(iv) RHB Investment Bank/RCE should inform the SC upon completion of the Proposed Placement.

With the receipt of the SC's approvals, the Proposed Placement remains subject to approvals being obtained from Bursa Malaysia Securities Berhad for the listing of and quotation for the Placement Shares.



This announcement is dated 12 February 2008.

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