Description DOLPHIN INTERNATIONAL BERHAD ("DOLPHIN" OR THE "COMPANY") I. PROPOSED VARIATION; II. PROPOSED PRIVATE PLACEMENT; III. PROPOSED ESOS; AND IV. PROPOSED CHANGE OF NAME (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
On behalf of the Board of Directors of Dolphin ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce that the Company proposes to undertake the following:-
i. a proposed variation to the terms of the sale of shares agreement ("SSA") dated 24 February 2022 (as supplemented by a supplemental SSA dated 15 July 2022) entered into between Asia Poly Food and Beverage Sdn Bhd ("AP F&B"), a wholly-owned subsidiary of Dolphin, with Dato' Yeo Boon Leong, Yeo Boon Thai, Yeo Boon Ho and Yeo Soon Bee (collectively, the "Vendors") for the acquisition of the entire equity interest in High Reserve F&B Sdn Bhd ("High Reserve") for the purchase consideration of RM36.00 million ("Previous Acquisition") by varying the payment terms of the Acquisition ("Proposed Variation");
ii. a private placement of up to 10% of the total number of issued shares of Dolphin ("Dolphin Share(s)" or "Share(s)") (excluding treasury shares, if any) to third party investor(s) to be identified later, at an issue price to be determined later, pursuant to Sections 75 and 76 of the Companies Act 2016 ("Act") ("Proposed Private Placement");
iii. an establishment of an employees' share option scheme ("ESOS") of up to 15% of the total number of issued shares in Dolphin (excluding treasury shares, if any) at any point in time over the duration of the ESOS to eligible persons ("Proposed ESOS"); and
iv. a proposed change of the Company's name from "Dolphin International Berhad" to "Oasis Harvest Corporation Berhad" ("Proposed Change of Name").
Further details of the Proposals are set out in the attachment enclosed.
Dolphin is going to undertake a series of strategic initiatives to mitigate the financial impact of High Reserve Group’s underperformance and improve financial position
===================== NOSH = 133,788,582 after share consolidation and fund raising Rights Issue in Oct 2023
Expect directors to restart and continue massive fund raising via shares issuance to PP, ESOS, RI, asset acquisition, etc
Expect NOSH to increase and shareholder equity % and EPS to be diluted with massive share issuance in near future
================== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance to PP, ESOS, RI , asset acquisition, etc
=========== Expect Cindy Kate to play the price to attract & trap newbies, punters, fomo oldbies etc
Dolphin proposes a private placement expected to raise RM2.44 million at an illustrative issue price of RM0.182 per Placement Share. These funds will primarily bolster working capital for the Company’s F&B business and trading segment.
Of course, the company will still benefit from the RM4.9 million profit guarantee provided by High Reserve, which will contribute positively to its financial results
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....
paktua73
18,316 posts
Posted by paktua73 > 2024-04-01 09:21 |
Post removed.Why?