BURSA ANNOUNCEMENTS

Date : 29 July 2021

OTHERS SUNWAY BERHAD ("SUNWAY" OR THE "COMPANY") - VARIATION OF UTILISATION OF PROCEEDS RAISED FROM THE RIGHTS ISSUE OF IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES

SUNWAY BERHAD

Type Announcement
Subject OTHERS
Description
SUNWAY BERHAD ("SUNWAY" OR THE "COMPANY") 
- VARIATION OF UTILISATION OF PROCEEDS RAISED FROM THE RIGHTS ISSUE OF IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES

We refer to the Company’s announcements dated 27 May 2020, 6 July 2020, 9 July 2020, 10 August 2020, 2 September 2020, 9 September 2020, 2 October 2020, 22 October 2020, 2 December 2020 and 8 December 2020 (“Announcements”) and the Circular to Shareholders of the Company dated 11 August 2020 (“Circular”) in relation to the rights issue of irredeemable convertible preference shares in Sunway which was completed on 8 December 2020 (“Rights Issue of ICPS”). Unless otherwise stated, the abbreviations and definitions used in the Announcements and Circular shall have the same meanings as those previously defined.


We also refer to the Company’s announcement dated 23 June 2021 in relation to the proposed investment by Greenwood Capital Pte Ltd, an indirect wholly owned subsidiary of GIC (Ventures) Pte Ltd, in Sunway Healthcare Holdings Sdn Bhd, a wholly owned subsidiary of Sunway City Sdn Bhd which in turn is a wholly owned subsidiary of Sunway, for a total subscription consideration of RM750.0 million in cash (“Proposed Investment”).

 

Pursuant to the Rights Issue of ICPS, the Company had raised a total gross proceeds of approximately RM977.8 million. As at 30 June 2021, approximately RM164.2 million of the proceeds raised from the Rights Issue of ICPS which had been earmarked for capital expenditure to expand and develop hospitals of Sunway Group (“Hospital Allocation”) remains unutilised.


The Board wishes to announce that the Board had on 29 July 2021 resolved to vary the Hospital Allocation for repayment of borrowings instead (“Variation”).

 

Please refer to the attachment below for further details of the Variation.

 

This announcement is dated 29 July 2021.

 

 




Please refer attachment below.



Announcement Info

Company Name SUNWAY BERHAD
Stock Name SUNWAY
Date Announced 29 Jul 2021
Category General Announcement for PLC
Reference Number GA1-28072021-00018


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