PALETTE MULTIMEDIA BHD ("PALETTE" or "COMPANY") Proposed private placement of up to 9,600,000 new ordinary shares of RM0.25 each in Palette ("Placement Shares") ("Proposed Private Placement")
| PALETTE MULTIMEDIA BERHAD |
|
Type | Announcement |
| Subject | PALETTE MULTIMEDIA BHD ("PALETTE" or "COMPANY") Proposed private placement of up to 9,600,000 new ordinary shares of RM0.25 each in Palette ("Placement Shares") ("Proposed Private Placement") |
Contents :
Affin Merchant Bank Berhad on behalf of the Board of Directors of Palette, is pleased to announce that the Proposed Private Placement has been approved by the following authorities as proposed:-
i) Malaysia Securities Exchange Berhad ("MSEB"), vide its letter dated 8 January 2004; and
ii) Securities Commission, vide its letter dated 6 January 2004.
MSEB has also approved Palette's application to vary the operation of Rule 3.13.1 (b) of the Listing Requirements of MSEB for the MESDAQ Market to permit the Company to price the new ordinary shares of RM0.25 each in Palette to be issued pursuant to the Propososed Private Placement at a discount of up to ten percent (10%) from the five (5)-day weighted average market price of the shares of Palette prior to placement. However, the Company is required to seek subsequent ratification of its shareholders for the discount at the next Annual General Meeting of the Company.
c.c : Wong Wing Seong (Securites Commission)
Announcement Info
| Company Name | PALETTE MULTIMEDIA BERHAD (MESDAQ Market) |
| Stock Name | PALETTE |
| Date Announced | 12 Jan 2004 |
| Category | General Announcement |
| Reference No | MM-040109-38582 |
