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New Issue of Securities (Chapter 6 Of Listing Requirements) : Fund Raising

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Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description

RIGHTS WITH BONUS ISSUE AND WARRANTS

(Unless otherwise stated, the words and abbreviations used herein shall have the same meaning as those defined in the Company’s abridged prospectus dated 21 February 2018 in relation to the Rights with Bonus Issue and Warrants (“Abridged Prospectus”))

On behalf of the Board, Maybank IB wishes to announce that as at the close of the acceptance, excess application and payment for the Rights with Bonus Issue and Warrants at 5.00 p.m. on 8 March 2018 (“Closing Date”), HEB had received valid acceptances and excess applications for 55,861,801 Rights Shares, representing an over-subscription of 23,953,700 Rights Shares or approximately 75.07% over the total number of 31,908,101 Rights Shares available for subscription under the Rights with Bonus Issue and Warrants.

The details of the valid acceptances and excess applications received as at the Closing Date are as follows:
 
No. of Rights Shares
% of total Rights Shares available for subscription
Total valid acceptances
31,461,782
98.60
Total valid excess applications
24,400,019
76.47
Total valid acceptances and excess applications
55,861,801
175.07
Total Rights Shares available for subscription
31,908,101
100.00
Over-subscription
23,953,700
75.07
Successful applicants of the Rights Shares will be given Bonus Shares on the basis of one (1) Bonus Share for every two (2) Rights Shares subscribed, and Warrants on the basis of three (3) Warrants for every two (2) Rights Shares subscribed.

As set out in Section 9.4 of the Abridged Prospectus, it is the intention of the Board to allot the Excess Rights with Bonus Issue and Warrants in a fair and equitable manner in the following order of priority:

1. firstly, to minimise the incidence of odd lots;
2. secondly, to the Entitled Shareholders who have applied for the Excess Rights with Bonus Issue and Warrants on a pro-rata basis and in board lots, calculated based on their respective shareholdings as per their CDS Accounts on the Entitlement Date;
3. thirdly, to the Entitled Shareholders who have applied for the Excess Rights with Bonus Issue and Warrants on a pro-rata basis and in board lots, calculated based on the quantum of Excess Rights with Bonus Issue and Warrants applied for; and
4. lastly, to the renouncees/transferees who have applied for the Excess Rights with Bonus Issue and Warrants on a pro-rata basis and in board lots, calculated based on the quantum of Excess Rights with Bonus Issue and Warrants applied for.

In the event of any balance of excess Rights Shares after steps (i), (ii), (iii) and (iv) are completed, steps (ii), (iii) and (iv) will be repeated to allocate the balance excess Rights Shares until such balance is exhausted.

Nevertheless, the Board reserves the right to allot the excess Rights Shares applied for in such manner as it deems fit and expedient, and in the best interest of HEB, subject always to such allocation being made in a fair and equitable manner, and that the intention of the Board as set out in steps (i) to (iv) above is achieved.

The Rights Shares, Bonus Shares and Warrants are expected to be listed and quoted on the Main Market of Bursa Securities on 21 March 2018.

This Announcement is dated 14 March 2018.





Announcement Info

Company Name HSS ENGINEERS BERHAD
Stock Name HSSEB
Date Announced 14 Mar 2018
Category General Announcement for PLC
Reference Number GA1-14032018-00018
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