NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING MESB BERHAD (“MESB” OR THE “COMPANY”) PRIVATE PLACEMENT OF UP TO 30% OF THE ISSUED SHARE CAPITAL OF MESB TO INDEPENDENT THIRD PARTY INVESTOR(S) TO BE IDENTIFIED AT A LATER DATE (“PRIVATE PLACEMENT”)
| Type | Announcement |
| Subject | NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) FUND RAISING |
| Description | MESB BERHAD (“MESB” OR THE “COMPANY”) PRIVATE PLACEMENT OF UP TO 30% OF THE ISSUED SHARE CAPITAL OF MESB TO INDEPENDENT THIRD PARTY INVESTOR(S) TO BE IDENTIFIED AT A LATER DATE (“PRIVATE PLACEMENT”) |
| For consistency purposes, the abbreviations and definitions used throughout this announcement are the same as those previously defined in the Circular to shareholders in relation to the Private Placement dated 11 November 2019.
We refer to the Company’s announcement dated 10 October 2019 and its subsequent announcements in relation to the Private Placement. On 26 November 2019, the Board has fixed the issue price for the first tranche of the Private Placement comprising 10,200,000 Placement Shares at RM0.425 per Placement Share. Pursuant to Paragraph 6.13 of the Listing Requirements, the payment for the Placement Shares must be made by the placees within five (5) market days from the price-fixing date, i.e., by 3 December 2019 (“Payment Deadline”). As at the Payment Deadline, the payment for 1,000,000 Placement Shares out of the total 10,200,000 Placement Shares under the first tranche Private Placement has not been received and hence, the Company has decided to proceed with the placement of 9,200,000 Placement Shares at RM0.425 per Placement Share, whilst the placement of the said 1,000,000 Placement Shares will lapse. Depending on the market conditions and the timing of identifying of suitable place(s), the Board shall fix the issue price for the remaining Placement Shares at a later date. This announcement is dated 3 December 2019. |