On behalf of the Board, TA Securities wishes to announce that the Board had on 7 December 2023 executed the following:
the deed poll constituting the Warrants (“Deed Poll”); and
an underwriting agreement with TA Securities (“Sole Underwriter”), for the underwriting of 80,000,000 Rights Shares together with 40,000,000 Warrants pursuant to the Rights Issue by the Sole Underwriter, representing 44.44% of the issue size of the Rights Issue under the Minimum Subscription Level (“Underwriting Agreement”).
A copy of the Deed Poll and Underwriting Agreement are made available for inspection at the registered office of the Company at Level 15-2 , Bangunan Faber Imperial Court, Jalan Sultan Ismail, 50250 Kuala Lumpur during normal business hours from 9.00 a.m. to 5.00 p.m. from Mondays to Fridays (excluding public holidays) for the period of at least 6 months from the date of this announcement.
The IPO involves the issuance of Shares in the following manner:
(1) Public issue of 167,828,700 Issue Shares in the following manner: • 33,566,000 Issue Shares made available for application by the Malaysian public, of which 16,783,000 issue shares will be set aside for application by Bumiputera investors including individuals, companies, cooperatives, societies and institutions; • 83,915,000 Issue Shares made available by way of private placement to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry, Malaysia (“MITI”); • 50,347,700 Issue Shares made available by way of private placement to institutional and selected investors, other than identified Bumiputera investors approved by the MITI; AND
(2) Offer for sale of up to 67,131,000 Offer Shares by way of placement to institutional and selected investors, other than identified Bumiputera investors approved by the MITI.
PRIVATE PLACEMENT OF UP TO 85,847,000 NEW ORDINARY SHARES IN CORAZA REPRESENTING NOT MORE THAN 20.0% OF THE TOTAL NUMBER OF ISSUED SHARES OF CORAZA TO INDEPENDENT THIRD-PARTY INVESTOR(S) No. of shares issued under this corporate proposal 64,385,400 Issue price per share ($$) Malaysian Ringgit (MYR) 0.6300 Par Value($$) (if applicable) Malaysian Ringgit (MYR) 0.000 Latest issued share capital after the above corporate proposal in the following Units 493,621,401 Issued Share Capital ($$) Malaysian Ringgit (MYR) 101,965,735.780 Listing Date 06 Sep 2023
Reference is made to the Company’s announcement dated 30 June 2023 and subsequent announcements in relation to the Proposals (“Announcements”) and the circular to shareholders of PICB in relation to the Proposals dated 7 September 2023 (“Circular”). For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the Announcements and Circular.
Pursuant to the CSPA dated 29 June 2023 entered into between Vendors, PBS and the Purchaser (“Parties”), the Conditions Precedent shall be satisfied by 31 October 2023 (“Long Stop Date”).
On behalf of the Board, KAF IB wishes to announce that the Parties have on 19 October 2023 entered into an amendment to the CSPA to mutually agreed to extend the Long Stop Date from 31 October 2023 to 31 December 2023.
This announcement is dated 19 October 2023.
One month to go.........if they couldnt make it by 31 Dec 2023 then it may not look good
Assuming u bought 2M at RM0.01 (total cost RM20K) b4 shares consolidation of 20 into 1, then u will have 100K shares after Ex Date (or average cost 100K at RM0.20)
Then u subscribe for the rights issues of 6 for 1 at RM0.03 (600K@ Rm0.03= RM18K)
So your total cost will be RM20K+ RM18K= RM38K
In return, u will have 100K + 600K (rights issues)= 700K mother + 300K Free warrant (WC)
Basing on closing price of 0.05 (mother) n 0.025 (WC) now, your total investment value is RM35,000 (700K mother) n RM7,500 (300K WC)= RM42,500 (RM4,500 gain or 11.84%) over your initial cost of RM38,000.
As for those who bought OR at 0.005/0.01 n subscribed the rights, your return is much much higher, which is 56.25% to 78.57%.....
Only for those Co who doesnt intend to maintain listing status (or to go for privatisation), their share prices will be few cents below Special Div/ Capital Return after the annoucement till the delisting date.
So Pelikan is a very weird case. Or investors are not confident with the deal???
In all cases which I noticed over the years, where the Co intended to maintain listing status in Bursa, their price normally would trade at 0.10-0.20 above the Special Div/ Capital Return sum after the Co's annoucement.
The most recent example was SCGM (declared SD RM1.85+ Cap Return RM0.36= RM2.21). The Co's share price trade ard RM2.40+ after the Co's annoucement on 09 May 2022. I think the price never stay below RM2.21 since then until the Ex dates.
Anyway, after EX SD N Capital Return of RM2.21, SCGM's price was being pushed up to the highest RM0.70+ and its RM0.585 now.