|Company Name||ZEN TECH INTERNATIONAL BERHAD|
|Date Announced||03 Feb 2023|
|Category||General Announcement for PLC|
ZEN TECH INTERNATIONAL BERHAD (FORMERLY KNOWN AS INIX TECHNOLOGIES HOLDINGS BERHAD) ("ZTIB" OR "COMPANY") (I) DEBT SETTLEMENT; (II) 30% PRIVATE PLACEMENT; (III) RIGHTS ISSUE; (IV) PROPOSED SHARE CAPITAL REDUCTION; AND (V) ESOS (COLLECTIVELY REFERRED TO AS "PROPOSALS")
We refer to the announcements dated 28 January 2022, 14 February 2022, 22 April 2022, 17 May 2022, 18 May 2022, 9 June 2022, 1 July 2022, 4 July 2022, 5 July 2022, 13 July 2022, 15 July 2022, 18 July 2022, 4 October 2022, 5 October 2022, 19 October 2022, 1 November 2022, 22 December 2022, 6 January 2023, 9 January 2023 and 27 January 2023 in relation to the Proposals (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.
On behalf of ZTIB, TA Securities wishes to announce that as at the close of acceptance, excess application and payment for the Rights Issue at 5.00 p.m. on 26 January 2023 (“Closing Date”), the Company has received valid acceptances and excess applications for a total of 3,263,527,986 Rights Shares, representing a subscription rate of 201.84% over the total number of Rights Shares available for subscription under the Rights Issue, resulting in an over-subscription rate of 101.84%.
The details of valid acceptances and excess applications received as at the Closing Date are as follows:
The successful applicants for the Rights Shares will be given Warrants on the basis of 2 Warrants for every 3 Rights Shares subscribed for.
In accordance with the procedure for excess application as stipulated in the Abridged Prospectus in relation to the Rights Issue dated 9 January 2023, the Board has allotted the excess Rights Shares in a fair and equitable basis as they deem fit and expedient in the best interest of the Company in the following priority:
(i) firstly, to minimise the incidence of odd lots;
(ii) secondly, for allocation to Entitled Shareholders who have applied for excess Rights Shares with Warrants, on a pro-rata basis and in board lots, calculated based on their respective shareholdings in the Company as at the Entitlement Date;
(iii) thirdly, for allocation to Entitled Shareholders who have applied for excess Rights Shares with Warrants, on a pro-rata basis and in board lots, calculated based on the quantum of their respective applications for excess Rights Shares with Warrants; and
(iv) lastly, for allocation to renouncee(s)/transferee(s) (if applicable) who has/have applied for the excess Rights Shares with Warrants, on a pro-rata basis and in board lots, calculated based on the quantum of their respective applications for excess Rights Shares with Warrants.
For the remaining excess Rights Shares with Warrants after steps (i) to (iv) have been carried out, steps (ii) to (iv) have been repeated until all remaining excess Rights Shares with Warrants have been allocated. Nevertheless, the Board reserves the right to allot any excess Rights Shares with Warrants applied for via Rights Subscription Form (“RSF”) or electronic RSF in such manner as it deems fit and expedient and 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 (i) to (iv) above are achieved.
The Rights Shares and Warrants are expected to be listed and quoted on the ACE Market of Bursa Securities on 13 February 2023.
This announcement is dated 3 February 2023.