News

New Issue Of Securities (Chapter 6 Of Listing Requirements) : Fund Raising

Unless stated otherwise, the terms used herein shall carry the same meaning as those defined in the earlier announcement in relation to the Proposals.

We refer to the earlier announcements dated 23 July 2020 and 14 August 2020 in relation to the Proposals.

On behalf of the board of directors of Prestariang ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") had, vide its letter dated 19 August 2020, resolved to approve the following:-

a)  Admission to the Official List and the initial listing and quotation of up to 256,423,606 Warrants to be issued pursuant to the Proposed Private Placement with Warrants and Proposed Rights Issue with Warrants.

b)  Listing of

i)      Up to 79,579,740 Placement Shares to be issued pursuant to the Proposed Private Placement;

ii)     Up to 176,843,866 Rights Shares to be issued pursuant to the Proposed Rights Issue with Warrants;

iii)    Up to 256,423,606 new Prestariang Shares to be issued pursuant to the exercise of the Warrants; and

iv)    such number of additional new ordinary shares in Prestariang representing up to 15% of the total number of issued shares (excluding treasury shares, if any) of Prestariang to be issued pursuant to the exercise of options under the Proposed LTIP.

The approval granted by Bursa Securities for the Proposed LTIP is subject to the following:-

i)   UOBKH is required to submit a confirmation to Bursa Securities of full compliance of the Proposed LTIP pursuant to paragraph 6.43(1) of the Main Market Listing Requirements ("Listing Requirements") and stating the effective date of implementation together with a certified true copy of the resolution passed by the shareholders in general meeting; and

ii)  Prestariang is required to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the Proposed LTIP as at the end of each quarter together with a detailed computation of listing fees payable.

The approval granted by Bursa Securities for the Proposed Private Placement with Warrants and Proposed Rights Issue with Warrants are subject to the following conditions:-

1.  Prestariang and UOBKH must comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Private Placement with Warrants and Proposed Rights Issue with Warrants;

2.  Prestariang and UOBKH to inform Bursa Securities upon the completion of the Proposed Private Placement with Warrants and Proposed Rights Issue with Warrants;

3.  Prestariang to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposed Private Placement with Warrants and Proposed Rights Issue with Warrants are completed;

4.  Prestariang to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the exercise of Warrants as at the end of each quarter together with a detailed computation of listing fees payable.

This announcement is dated 19 August 2020.

Announcement Info