MULTIPLE PROPOSALS INSTACOM GROUP BERHAD ("INSTACOM" OR THE "COMPANY") I. PROPOSED BONUS ISSUE; AND II. PROPOSED ACQUISITION (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
|INSTACOM GROUP BERHAD|
INSTACOM GROUP BERHAD ("INSTACOM" OR THE "COMPANY") I. PROPOSED BONUS ISSUE; AND II. PROPOSED ACQUISITION (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. bonus issue of up to 657,103,877 new ordinary shares of RM0.10 each in Instacom ("Instacom Shares" or "Shares") ("Bonus Shares"), to be credited as fully paid-up on the basis of one (1) Bonus Share for every three (3) existing Instacom Shares held on an entitlement date to be determined later ("Entitlement Date") ("Proposed Bonus Issue"); and
ii. acquisition by Instacom of 5,300,000 ordinary shares of RM1.00 each in Neata ("Neata Shares"), representing approximately 43.6% of the equity interest in Neata ("Sale Shares") from Golden Oasis Resources Sdn Bhd ("Golden Oasis" or "Vendor") for a purchase consideration of RM73,584,000 ("Purchase Consideration"), which will be fully satisfied via a combination of the issuance of 605,840,000 Instacom Shares ("Consideration Shares") at an issue price of RM0.10 per Instacom Share and cash of RM13,000,000 ("Proposed Acquisition").
(collectively referred to as the "Proposals").
Further details on the Proposals are set out in the attachment enclosed.
Please refer attachment below.
|Company Name||INSTACOM GROUP BERHAD|
|Date Announced||06 Aug 2015|
|Category||General Announcement for PLC|