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

Company Name HUA YANG BERHAD
Stock Name HUAYANG
Date Announced 19 Sep 2022
Category General Announcement for PLC
Reference Number GA1-19092022-00022

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

RENOUNCEABLE RIGHTS ISSUE OF UP TO 88,000,000 NEW ORDINARY SHARES IN HYB ("HYB SHARE(S)") ("RIGHTS SHARE(S)") ON THE BASIS OF 1 RIGHTS SHARE FOR EVERY 4 EXISTING HYB SHARES HELD AS AT 5.00 P.M. ON MONDAY, 3 OCTOBER 2022, TOGETHER WITH UP TO 88,000,000 FREE DETACHABLE WARRANTS IN HYB ("WARRANT(S)") ON THE BASIS OF 1 WARRANT FOR EVERY 1 RIGHTS SHARE SUBSCRIBED, AT AN ISSUE PRICE OF RM0.18 PER RIGHTS SHARE ("RIGHTS ISSUE WITH WARRANTS")

We refer to the previous announcements and the circular to shareholders dated 12 August 2022 in relation to the Rights Issue with Warrants (“Circular”). Unless otherwise stated, the terms used herein shall have the same meaning as defined in the Circular.

 

On behalf of the Board, UOBKH wishes to announce that the Board had on even date resolved to fix the following prices pursuant to the Rights Issue with Warrants:-

  1. the issue price of the Rights Shares at RM0.18 per Rights Share; and
  2. the exercise price of the Warrants at RM0.30 per Warrant.

The issue price of RM0.18 per Rights Share represents a discount of RM0.003 or approximately 1.64% to the TERP of HYB Shares of RM0.1830, calculated based on the 5-day VWAP of HYB Shares up to and including 15 September 2022 of RM0.1837, being the Market Day immediately prior to the price-fixing date.

 

The exercise price of RM0.30 per Warrant represents a premium of RM0.117 or approximately 63.93% to the TERP of HYB Shares of RM0.1830, calculated based on the 5-day VWAP of HYB Shares up to and including 15 September 2022 of RM0.1837, being the Market Day immediately prior to the price-fixing date.

 

Further, on behalf of the Board, UOBKH wishes to announce that HYB had, on even date, executed the Deed Poll constituting the Warrants.

 

This announcement is dated 19 September 2022.






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