MULTIPLE PROPOSALS ADVENTA BERHAD ("ADVENTA" OR "COMPANY") I. PROPOSED RIGHTS ISSUE; AND II. PROPOSED EXEMPTION
ADVENTA BERHAD ("ADVENTA" OR "COMPANY") I. PROPOSED RIGHTS ISSUE; AND II. PROPOSED EXEMPTION
On behalf of the Board of Directors of Adventa (“Board”), AmInvestment Bank Berhad (“AmInvestment Bank”) wishes to announce that Adventa is proposing to undertake a renounceable rights issue of 91,671,462 new ordinary shares in Adventa (“Adventa Shares”) (“Rights Shares”) together with 45,835,731 free detachable warrants (“Rights Warrants”), on the basis of three (3) Rights Shares for every five (5) existing Adventa Shares held and one (1) free Rights Warrant for every two (2) Rights Shares subscribed for, on an entitlement date to be determined later (“Entitlement Date”) (“Proposed Rights Issue”).
In conjunction with the Proposed Rights Issue, an application for exemption to Low Chin Guan (“Mr Low”) and persons acting in concert with him (“PAC”) under paragraph 4.08 of the rules on Take-overs, Mergers and Compulsory Acquisitions (“Rules”) from the obligation to undertake a mandatory offer for the remaining Adventa Shares not already owned by them arising from the application for excess Rights Shares under the Proposed Rights Issue as well as the subsequent exercise of the Rights Warrants into new Adventa Shares (“Proposed Exemption”) will also be undertaken.
(the Proposed Rights Issue and Proposed Exemption are collectively referred to as the “Proposals”).
Further details of the Proposed Rights Issue are set out in the attachment.
This announcement is dated 17 January 2018.
Please refer attachment.
Please refer attachment below.
|Company Name||ADVENTA BERHAD|
|Date Announced||17 Jan 2018|
|Category||General Announcement for PLC|