Type Announcement Subject MULTIPLE PROPOSALS Description ECO WORLD DEVELOPMENT GROUP BERHAD (“EW BERHAD”)
(I) ACQUISITIONS; (II) SHARE SPLIT; (III) SHARE SUBSCRIPTION; (IV) RENOUNCEABLE RIGHTS ISSUE TOGETHER WITH FREE DETACHABLE WARRANTS (“RIGHTS ISSUE WITH WARRANTS”); (V) PLACEMENT; (VI) ALTERATION AND INCREASE IN AUTHORISED SHARE CAPITAL; (VII) AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION; AND (VIII) EXEMPTION FROM A MANDATORY GENERAL OFFER
Reference is made to EW Berhad’s announcements dated 25 April 2014 (“Announcement”), 28 April 2014, 23 September 2014, 23 October 2014, 10 November 2014, 19 November 2014, 12 December 2014, 15 December 2014, 17 December 2014, 7 January 2015, 8 January 2015, 22 January 2015, 23 January 2015, 6 February 2015 and 17 February 2015. All capitalised terms used herein shall have the same meanings as those set out in the Announcement unless otherwise stated.
On behalf of the Board, CIMB, AmInvestment and Maybank IB wish to announce that pursuant to the close of acceptance, excess application and payment for the Rights Issue with Warrants at 5.00 p.m. on 20 March 2015 (“Closing Date”), EW Berhad had received valid acceptances and excess applications for a total of 688,787,758 Rights Shares. This represents an over-subscription of 4.88% over the total number of Rights Shares available for subscription under the Rights Issue with Warrants.
Details of such valid acceptances and excess applications received are as follows:
No. of Rights Shares
% of total Rights Shares available for subscription
Total valid acceptances
653,552,305
99.51
Total valid excess applications
35,235,453
5.37
Total valid acceptances and excess applications
688,787,758
104.88
Total Rights Shares available for subscription
656,740,426
100.00
Over-subscription
32,047,332
4.88
Successful applicants of the Rights Shares will be given Warrants on the basis of four (4) Warrants for every five (5) Rights Shares successfully subscribed for. The Rights Shares which are not taken up or not validly taken up by our entitled shareholders and/or their renouncee(s) and/or transferee(s) (if applicable) by the Closing Date (“Excess Rights Shares”), will be allotted to applicants who have applied for the Excess Rights Shares in the priority set out in Section 9.6 of the Abridged Prospectus dated 5 March 2015 as follows:
(i) firstly, to minimise the incidence of odd lots;
(ii) secondly, for allocation to entitled shareholders who have applied for Excess Rights Shares on a pro-rata basis and in board lot, calculated based on their respective shareholdings as per their CDS account as at the entitlement date;
(iii) thirdly, for allocation to entitled shareholders who have applied for Excess Rights Shares on a pro-rata basis and in board lot, calculated based on the quantum of Excess Rights Shares applied for;
(iv) fourthly, for allocation to renouncee(s) and/or transferee(s) who have applied for Excess Rights Shares on a pro-rata basis and in board lot, calculated based on the quantum of Excess Rights Shares applied for; and
(v) in the event of any Excess Rights Shares balance after the above allocations are completed, the balance will be allocated in the processes set out in (ii) to (iv) above.
The Rights Shares and Warrants are expected to be listed on the Main Market of Bursa Securities on 31 March 2015.
oversea project to con those who like u bullrun. See they hav project oversea then think is a good company. in msia also stuck and affected by cooling measure d. Build a BBCC at a haunted place with low demand and hav to compete with tun razak exchange. Iskandar oversupplied. UK house price also dropping now. All fake account done inside to let public know how good is their sales and revenue Yes i agreed is dead fish. the share is hopeless and drop alot
Its more like knowing you are stuck here, and so have to resort in overseas projects...not every developer can undertake that....at this rate, i'd like to think they have done pretty well. Their aggression in landbanking and branding is very impressive..dont think it will take very long to see some positve results.
Using your rationale, if stuck means mistake there will be no further development fr now on. Because no developer will want to be stuck in a 'mistaken' position, no? Overseas projects might be good to channel away domestic repercussions at time being, while building an international branding for themselves. Those who have the chance, take a look at their project's built quality. Over a long term,... failure or otherwise only time will tell...as of now, the cards have been well played.
UK house price dropping? Lol. Ecoworld UK project is all in London. Check the annual house price increase in London area. Even half of prediction, Ecoworld still laugh all the way to bank. Do you know UK government want to 50,000 houses in London?
Cant agree more. ECW is one of the better managed developers in MY. Great leadership and creative. Good in customer service and top notch quality in their products. Other then KSL, this one is of the best...with projects in hand that will last them for next 25 years. .
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....
bullrun_star
215 posts
Posted by bullrun_star > 2015-03-23 08:50 | Report Abuse
snake- any data to justify,?