Posted by kiaralim19 > 2021-07-16 11:28 | Report Abuse

G Capital Berhad (stock code: 7676) has today announced a proposal of rights issue of 1.28 billion Redeemable Convertible Unsecured Loan Stocks (“RCULS”). Shareholders who own GCAP shares will be entitled to 4 RCULS for every 1 share in GCAP. The issue price per RCULS is RM0.08. RCULS subscribers can convert the RCULS to GCAP ordinary share by surrending 1 RCULS together with cash of RM0.82. The conversion can only happen after one year of the issue date of the RCULS. This is an attractive investment. RCULS subscribers will enjoy an interest rate of 5% per year (payable every quarter). GCAP will utilise most of the proceeds raised to complete its Renewable Energy Projects – Solar PV system (9.4MW) and Mini-hydropower plants projects (43.2MW). Commissioning of the 52.6MW projects could potentially generate a yearly revenue of RM64 million, and aggregating to RM1.3 billion throughout the concession tenure.