NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING VSOLAR GROUP BERHAD (VSOLAR OR THE COMPANY) PROPOSED RIGHTS ISSUE WITH WARRANTS

VSOLAR GROUP BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description
VSOLAR GROUP BERHAD (VSOLAR OR THE COMPANY)

PROPOSED RIGHTS ISSUE WITH WARRANTS

Unless otherwise redefined, the definitions set out in the earlier announcements in relation to the Proposed Rights Issue with Warrants from 8 December 2014 shall apply in this announcement.

Reference is made to the announcement dated 16 August 2016 wherein Bursa Securities has granted Vsolar an extension of time of up to 28 March 2017 to complete the implementation of the Proposed Rights Issue with Warrants.

The Board is currently re-evaluating certain terms of the Proposed Rights Issue with Warrants namely the issue price, proceeds to be raised and utilisation of such proceeds after taking into consideration, amongst others:

  1. the trading prices and demand for the Vsolar Shares; and
  2. current prospects of the Malaysia solar industry.

As such, the Board has resolved not to seek for a further extension of time for the implementation of the Proposed Rights Issue with Warrants. An announcement will be made upon the finalisation of the revised terms of the Proposed Rights Issue with Warrants.

 

This announcement is dated 28 March 2017.

 






Announcement Info

Company Name VSOLAR GROUP BERHAD
Stock Name VSOLAR
Date Announced 28 Mar 2017
Category General Announcement for PLC
Reference Number GA1-28032017-00068