NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING

Company Name METRONIC GLOBAL BERHAD
Stock Name MTRONIC
Date Announced 25 May 2022
Category General Announcement for PLC
Reference Number GA1-25052022-00069

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description
METRONIC GLOBAL BERHAD ("METRONIC" OR THE "COMPANY")

RIGHTS ISSUE WITH WARRANTS

(For consistency, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcement dated 19 November 2021 in relation to the Rights Issue with Warrants, unless stated otherwise or defined herein.)

 

We refer to the earlier announcements in relation to the Rights Issue with Warrants dated 19 November 2021 and 24 January 2022.

 

On behalf of the Board, Mercury Securities wishes to announce that the Company has resolved to fix the issue price of the Rights Shares at RM0.06 per Rights Share (“Issue Price”) and the exercise price of the Warrants B at RM0.06 per Warrant B (“Exercise Price”).

 

The Board had fixed the Issue Price after taking into consideration, amongst others, the following:-

 

(i)         the funding requirements of the Group;

 

(ii)         the TEAP of RM0.0656 per Share, calculated based on the 5-day VWAP of the Shares up to and including 24 May 2022, being the last trading day before the date of fixing the Issue Price and the Exercise Price (“LTD”), of RM0.1102 per Share; and

 

(iii)        the rationale for the Rights Issue with Warrants, as set out in Section 6 of the circular to Shareholders dated 25 February 2022 (“Circular”).

 

The Issue Price represents a discount of 8.54% to the TEAP of RM0.0656 per Share, calculated based on the 5-day VWAP of the Shares up to and including the LTD of RM0.1102 per Share and the Exercise Price of RM0.06 per Warrant B.

 

The Board had fixed the Exercise Price after taking into consideration, amongst others, the TEAP of the Shares.

 

The Exercise Price represents a discount of 8.54% to the TEAP of RM0.0656 per Share, calculated based on the 5-day VWAP of the Shares up to and including the LTD of RM0.1102 per Share and the Issue Price of RM0.06 per Rights Shares.

 

This announcement is dated 25 May 2022.






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