at the rate some of the forumers early today wrote about the so called insider trading offence & it's penalty, i dont think helenvoon will voluntarily shares any more info
i think its a share exchange valuing Icon at nta, possibly at best its 2 Icon for 1 umwog umwog got no cash to buy outright, only UMW mother got the cash
Don't get helenvoon into trouble. She could be a newbie, ignorant of the rules & regulations. It is serious offence. Better erase all your tracks and trails.
1 Icon share will get 1 UMWOG share RM 0.80. So tomorrow ICON will reach 0.80 and not 0.50. Par value for Icon is RM 0.50, it is not cash offer of RM 0.50 but share swap. This is even better than cash offer of RM 0.50. DTK Rahman is taking good care of ICON shareholders.
Upon completion of the sales and purchase agreement (SPA) relating to Icon, Ekuinas will emerge as 12.6% of UMW-OG, second only to Permodalan Nasional Bhd (PNB) and funds under its management.
PNB and its funds will hold 40% of UMW-OG following the proposed demerger of UMW-OG from UMW Holdings.
need some announcement very soon to clear the air, what would be our shares in Icon. I believe in either way share swap or cash, we are on the winning tickets..:-)
UMW OIL & GAS CORPORATION BERHAD (“UMW-OG” OR “COMPANY”)
(I) PROPOSED ACQUISITION OF 497,768,820 ORDINARY SHARES OF RM0.50 EACH IN ICON OFFSHORE BERHAD (“ICON”) (“ICON SHARES”), REPRESENTING APPROXIMATELY 42.3% EQUITY INTEREST IN ICON, FOR A PURCHASE CONSIDERATION OF RM248,884,410 OR RM0.50 PER ICON SHARE (“ICON PURCHASE CONSIDERATION”) TO BE SATISFIED VIA THE ISSUANCE OF 311,105,513 NEW ORDINARY SHARES OF RM0.50 EACH IN UMW-OG ("UMW-OG SHARES") AT AN ISSUE PRICE OF RM0.80 PER UMW-OG SHARE ("PROPOSED ICON ACQUISITION");
(II) PROPOSED ACQUISITION OF 37,087,725 ORDINARY SHARES OF RM1.00 EACH IN ORKIM SDN BHD (“ORKIM”) (“ORKIM SHARE”), REPRESENTING APPROXIMATELY 95.5% EQUITY INTEREST IN ORKIM, FOR A CASH CONSIDERATION OF RM472,725,000 (“ORKIM PURCHASE CONSIDERATION”) (“PROPOSED ORKIM ACQUISITION”); (PROPOSED ICON ACQUISITION AND PROPOSED ORKIM ACQUISITION TO BE COLLECTIVELY REFERRED TO AS “PROPOSED ACQUISITIONS”)
(III) PROPOSED MANDATORY GENERAL OFFER (“MGO”) FOR ALL THE REMAINING ICON SHARES NOT ALREADY OWNED BY UMW-OG AND PERSONS ACTING IN CONCERT WITH IT (“PAC”) AFTER THE PROPOSED ICON ACQUISITION INCLUDING ALL NEW ICON SHARES THAT MAY BE ISSUED PRIOR TO THE CLOSING OF THE PROPOSED MGO (AS DEFINED BELOW) ARISING FROM THE EXERCISE OF OUTSTANDING OPTIONS GRANTED PURSUANT TO ICON’S EMPLOYEES’ SHARE SCHEME (“REMAINING ICON SHARES”) (“PROPOSED MGO”);
(IV) PROPOSED RENOUNCEABLE RIGHTS ISSUE OF NEW UMW-OG SHARES (“RIGHTS SHARES”) TOGETHER WITH FREE DETACHABLE WARRANTS (“WARRANTS”) TO RAISE GROSS PROCEEDS OF APPROXIMATELY RM1.8 BILLION (“PROPOSED RIGHTS ISSUE WITH WARRANTS”);
(V) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL OF UMW-OG FROM RM2,500,000,000 COMPRISING 5,000,000,000 UMW-OG SHARES TO RM5,000,000,000 COMPRISING 10,000,000,000 UMW-OG SHARES (“PROPOSED IASC”); AND
(VI) PROPOSED AMENDMENTS TO THE MEMORANDUM (“MEMORANDUM”) OF UMW-OG
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cooling
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Posted by cooling > 2017-01-19 13:41 | Report Abuse
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