"Our Company intends to revise the MCP of the Notes. Pursuant to the Letter of Understanding, our Company and the Subscribers have agreed to revise the MCP from RM0.12 to RM0.05"
Our Company had on 6 December 2021 entered into the Letter of Understanding to revise the Original MCP to the Revised MCP.
For illustration purposes, the abovementioned changes are outlined in the table below:
As per the Subscription______________________Agreement Proposed Variation The MCP is set at RM0.12.__________________ The MCP is revised to RM0.05.
MCP =Minimum conversion price
----------------------------- Maximum Redemption Amount The Proposed Variation will not result in any change to the issue size of the Notes programme of up to RM100 million as our Company intends to raise the proceeds and be utilised in the manner as set out in Section 2.2.9 of the Previous Circular. In the event the entire Notes of RM100 million are issued and 818,984,505 Conversion Shares has been issued upon conversion of these Notes at the Revised MCP, no further Conversion Shares shall be issued for the remaining outstanding Notes. Hence, our Company shall pay the Subscribers the redemption amount for the remaining outstanding unconverted Notes.
===================== 1. The original MCP of 0.12 has been revised to 0.05 and this explained why the 180,000,000 shares were issued at 0.05 2. Maximum total shares that can be issued from this exercise is 818,984,505. 3. After deducting 180,000,000 shares already issued, remaining shares that could be issued = 818,984,505 - 180,000,000 = 638,984,505 ==================== Current NOSH = 720,529,680 will increase to about 1.4 billion shares if the above remaining shares are issued.
Not forgetting, possibility of more share issuance to PP and ESOS, the total issued shares will increase further. Dilution to shareholders equity % and EPS
After recent shares consolidation, process of shares issuance continue to increase the NOSH to multi BILLION shares
================== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance to PP and ESOS Allotment of Shares pursuant to Issuance of redeemable convertible notes
1. Details of Corporate Proposal Involve issuance of new type/class of securities ? No Types of corporate proposal Special Issue Details of corporate proposal Issuance of redeemable convertible notes with an aggregate principal amount of up to RM100 million No. of shares issued under this corporate proposal 187,406,296 Issue price per share ($$) Malaysian Ringgit (MYR) 0.0667 Latest issued share capital after the above corporate proposal in the following Units 1,127,876,005 Listing Date 06 May 2022
================= Another tranche of shares at special price for specially selected investors
[PWORTH] Special Issue on 26-May-2022 Stock [PWORTH]: PRICEWORTH INTERNATIONAL BHD Announcement Date 26-May-2022 Listing Date 27-May-2022 New Type/Class? No Type Special Issue Details Issuance of redeemable convertible notes with an aggregate principal amount of up to RM100million No. of shared issued 149,925,037 Issue Price MYR 0.067 Par Value 0.000 Total NOSH 1,345,267,308
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 2948 views | 2 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
lehubeng
1,119 posts
Posted by lehubeng > 2022-02-17 16:24 | Report Abuse
pp otw..... do not hv high expectation on pworth....