Bursa Announcements
MULTIPLE PROPOSALS SUNWAY BERHAD ("SUNWAY") (i) PROPOSED RIGHTS ISSUE OF IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES; AND (ii) PROPOSED AMENDMENTS TO THE CONSTITUTION OF SUNWAY (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
| SUNWAY BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | SUNWAY BERHAD ("SUNWAY")
(i) PROPOSED RIGHTS ISSUE OF IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES; AND
(ii) PROPOSED AMENDMENTS TO THE CONSTITUTION OF SUNWAY
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS") |
|
Unless otherwise stated, the abbreviations and definitions used in this announcement shall have the same meanings as those previously defined in the Company’s announcement dated 27 May 2020 (“Initial Announcement”) in relation to the Proposals.
We refer to the Initial Announcement in relation to the Proposals.
On behalf of the Board, RHB Investment Bank wishes to announce that subsequent to the Initial Announcement, the Board has resolved to, amongst others:
(i) undertake the Proposed Rights Issue of ICPS on a minimum subscription basis instead of a full subscription basis to raise a minimum of RM612.7 million; and
(ii) fix the Conversion Price on a date to be determined and announced by the Board after all relevant approvals have been obtained and at the lower of:
(a) RM1.00 per Sunway Share; and
(b) an RM amount equivalent to up to 20% discount to the 5-day VWAP of Sunway Shares immediately before the price-fixing date.
Further, the Board wishes to provide further clarification on the indicative salient terms of the ICPS.
Please refer to the attachment below for the details of the Proposals.
This announcement is dated 6 July 2020. |
|
Please refer attachment below.
Announcement Info
| Company Name | SUNWAY BERHAD |
| Stock Name | SUNWAY |
| Date Announced | 06 Jul 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-03072020-00039 |