MULTIPLE PROPOSALS M3 TECHNOLOGIES (ASIA) BERHAD ("M3TECH" OR "COMPANY") (I) RIGHTS ISSUE WITH WARRANTS; (II) ESOS; (III) INCREASE IN AUTHORISED SHARE CAPITAL; AND (IV) M&A AMENDMENTS (COLLECTIVELY REFERRED TO AS THE "CORPORATE EXERCISES")

M3 TECHNOLOGIES (ASIA) BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
M3 TECHNOLOGIES (ASIA) BERHAD ("M3TECH" OR "COMPANY")

(I)	RIGHTS ISSUE WITH WARRANTS;
(II)	ESOS;
(III)	INCREASE IN AUTHORISED SHARE CAPITAL; AND
(IV)	M&A AMENDMENTS 

(COLLECTIVELY REFERRED TO AS THE "CORPORATE EXERCISES")

Unless otherwise stated, all definitions and terms used in this announcement shall have the same meanings as defined in the previous announcements.

Reference is made to the announcements dated 16 April 2015, 15 June 2015, 16 June 2015, 3 July 2015, 17 September 2015, 8 October 2015, 18 January 2016, 20 January 2016, 17 June 2016, 23 June 2016, 12 July 2016 and 26 July 2016 in relation to the Rights Issue with Warrants.

On behalf of the Board of Directors of M3Tech (“Board”), PIVB wishes to announce that as at the close of acceptance and payment for the Rights Issue with Warrants at 5.00 p.m. on Thursday, 11 August 2016 (“Closing Date”), the total valid acceptances and excess applications received for the Rights Shares with Warrants were 390,249,450 Rights Shares. This represents an over-subscription of 723,570 Rights Shares or approximately 0.19% over the total of 389,525,880 Rights Shares available for subscription under the Rights Issue with Warrants. 

The details of the total valid acceptances and excess applications received as at the Closing Date for the Rights Issue with Warrants are as follows:

 

Number of Rights Shares

% of               total issue

Total valid acceptances

220,556,620

56.62

Total valid excess applications

169,692,830

43.57

Total valid acceptances and excess applications

390,249,450

100.19

Total Rights Shares available for subscription

389,525,880

100.00

Over-subscription

723,570

0.19

The Board has applied the basis in allocating the excess Rights Shares with Warrants as set out in the Abridged Prospectus dated 13 July 2016, which is as follows:

(i)  firstly, to minimise the incidence of odd lots;

(ii)  secondly, after the occurrence of (i) above, for allocation to the entitled shareholders who have applied for the excess Rights Shares with Warrants on a pro-rata basis and in board lot, calculated based on their respective shareholdings as at the entitlement date;

(iii)  thirdly, after the occurrence of (i) and (ii) above, for allocation to the entitled shareholders who have applied for the excess Rights Shares with Warrants on a pro-rata basis and in board lot, calculated based on the quantum of their respective excess Rights Shares with Warrants application; and

(iv)  lastly, after the occurrence of (i), (ii) and (iii) above, for allocation to renouncee(s)/transferee(s) who have applied for the excess Rights Shares with Warrants on a pro-rata basis and in board lot, based on the quantum of their respective excess Rights Shares with Warrants application.

Any balance of excess Rights Shares with Warrants after the above allocations are completed will be allocated again through the processes (ii), (iii) and (iv) above until all excess Rights Shares with Warrants are fully allocated.

The Warrants will be issued at no cost to the entitled shareholders and/or their renouncee(s)/transferee(s) who have successfully subscribed for the Rights Shares pursuant to the Rights Issue with Warrants on the basis of three (3) Warrants for every four (4) Rights Shares successfully subscribed. Any fractional entitlement under the Rights Issue with Warrants shall be disregarded and will be dealt with by the Board as it may deem fit and expedient in the best interest of the Company.

The Rights Shares and Warrants are expected to be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad on 25 August 2016.

This announcement is dated 18 August 2016.






Announcement Info

Company Name M3 TECHNOLOGIES (ASIA) BERHAD
Stock Name M3TECH
Date Announced 18 Aug 2016
Category General Announcement for PLC
Reference Number GA1-18082016-00017