News

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

The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcements in relation to the Rights Issue with Warrants.

We refer to our earlier announcements dated 23 July 2020, 14 August 2020, 19 August 2020, 27 August 2020, 28 August 2020, 8 September 2020, 15 September 2020 and 30 October 2020.

On behalf of the Board of Directors of Prestariang ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce that as at the close of acceptance, excess application and payment for the Rights Issue with Warrants as at 5.00 p.m. on Monday, 16 November 2020, the total acceptances and excess applications for the Rights Issue with Warrants were 261,637,854 Rights Shares, which represents an over-subscription of 47.95% over the total number of 176,842,127 Rights Shares available for subscription under the Rights Issue with Warrants, the details of which are set out below:-

It is the intention of the Board to allot the Excess Rights Shares with Warrants on a fair and equitable basis. The Board has applied the following basis and priority in allocating the Excess Rights Shares with Warrants, in accordance with the Abridged Prospectus dated 30 October 2020:-

1. Firstly, to minimise the incidence of odd lots;
2. Secondly, for allocation to Entitled Shareholders who have applied for the Excess Rights Shares with Warrants, on a pro-rata basis and in board lot, calculated based on their respective shareholdings in the Company as at the Entitlement Date;
3. Thirdly, for allocation to Entitled Shareholders who have applied for the Excess Rights Shares with Warrants, on a pro-rata basis and in board lot, calculated based on the quantum of their respective Excess Rights Shares with Warrants applied for; and
4. Finally, for allocation to renouncee(s) and/ or transferee(s) (if applicable) who have applied for the Excess Rights Shares with Warrants, on a pro-rata basis and in board lot, calculated based on the quantum of their respective Excess Rights Shares with Warrants applied for.

In the event there is any remaining balance of the Excess Rights Shares with Warrants applied for by the Entitled Shareholders and/ or renouncee(s) and/ or transferee(s) (if applicable)  who have applied for the Excess Rights Shares with Warrants after carrying out steps (i) to (iv) as set out above, steps (ii) to (iv) will be repeated again in the same sequence to allocate the remaining balance of the Excess Rights Shares with Warrants to the Entitled Shareholders and/ or renouncee(s) and/ or transferee(s) (if applicable) who have applied for the Excess Rights Shares with Warrants until such balance is fully allocated.

Nevertheless, the Board reserves the right to allot any Excess Rights Shares with Warrants applied for in such manner as the Board deems fit and expedient in the best interest of the Company subject always to such allocation being made on a fair and equitable basis, and that the intention of the Board as set out in steps (i)-(iv) above are achieved. The Board also reserves the rights at its absolute discretion to accept in full or in part any application for the Excess Rights Shares with Warrants without assigning any reason thereof.

This announcement is dated 23 November 2020.