MULTIPLE PROPOSALS INSTACOM GROUP BERHAD ("INSTACOM" OR THE "COMPANY") I. PROPOSED RENOUNCEABLE RIGHTS ISSUE OF UP TO 429,515,979 NEW ORDINARY SHARES OF RM0.10 EACH IN INSTACOM ("INSTACOM SHARE(S)" OR "SHARE(S)") ("RIGHTS SHARE(S)") ON THE BASIS OF TWO (2) RIGHTS SHARES FOR EVERY SEVEN (7) EXISTING INSTACOM SHARES HELD, TOGETHER WITH UP TO 214,757,989 FREE DETACHABLE WARRANTS IN INSTACOM ("WARRANT(S) D") ON THE BASIS OF ONE (1) FREE WARRANT D FOR EVERY TWO (2) RIGHTS SHARES SUBSCRIBED FOR, ON AN ENTITLEMENT DATE TO BE DETERMINED LATER ("PROPOSED RIGHTS ISSUE WITH WARRANTS"); II. PROPOSED INCREASE IN THE AUTHORISED SHARE CAPITAL OF INSTACOM FROM RM200,000,000 COMPRISING 2,000,000,000 INSTACOM SHARES TO RM500,000,000 COMPRISING 5,000,000,000 INSTACOM SHARES ("PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL"); AND III. PROPOSED AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF INSTACOM ("PROPOSED AMENDMENTS") (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
| INSTACOM GROUP BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | INSTACOM GROUP BERHAD ("INSTACOM" OR THE "COMPANY") I. PROPOSED RENOUNCEABLE RIGHTS ISSUE OF UP TO 429,515,979 NEW ORDINARY SHARES OF RM0.10 EACH IN INSTACOM ("INSTACOM SHARE(S)" OR "SHARE(S)") ("RIGHTS SHARE(S)") ON THE BASIS OF TWO (2) RIGHTS SHARES FOR EVERY SEVEN (7) EXISTING INSTACOM SHARES HELD, TOGETHER WITH UP TO 214,757,989 FREE DETACHABLE WARRANTS IN INSTACOM ("WARRANT(S) D") ON THE BASIS OF ONE (1) FREE WARRANT D FOR EVERY TWO (2) RIGHTS SHARES SUBSCRIBED FOR, ON AN ENTITLEMENT DATE TO BE DETERMINED LATER ("PROPOSED RIGHTS ISSUE WITH WARRANTS"); II. PROPOSED INCREASE IN THE AUTHORISED SHARE CAPITAL OF INSTACOM FROM RM200,000,000 COMPRISING 2,000,000,000 INSTACOM SHARES TO RM500,000,000 COMPRISING 5,000,000,000 INSTACOM SHARES ("PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL"); AND III. PROPOSED AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF INSTACOM ("PROPOSED AMENDMENTS") (COLLECTIVELY REFERRED TO AS THE "PROPOSALS") |
On behalf of the Board of Directors of Instacom, RHB Investment Bank Berhad wishes to announce that the Company proposes to undertake the following:- i. A renounceable rights issue of up to 429,515,979 Rights Shares on the basis of two (2) Rights Shares for every seven (7) existing Instacom Shares held, together with up to 214,757,989 free detachable Warrants D on the basis of one (1) free Warrant D for every two (2) Rights Shares subscribed for, on an entitlement date to be determined later; ii. An increase in the authorised share capital of Instacom from RM200,000,000 comprising 2,000,000,000 Instacom Shares to RM500,000,000 comprising 5,000,000,000 Instacom Shares; and iii. Amendments to the Memorandum and Articles of Association of Instacom. Further details on the Proposals are set out in the attachment enclosed.
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Announcement Info
| Company Name | INSTACOM GROUP BERHAD (ACE Market) |
| Stock Name | INSTACO |
| Date Announced | 2 Mar 2015 |
| Category | General Announcement |
| Reference No | MI-150302-64197 |