RSawit

Email This Print This News

New Issue Of Securities (Chapter 6 Of Listing Requirements):Combination Of New Issue Of Securities

BackJul 11, 2011
Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
COMBINATION OF NEW ISSUE OF SECURITIES
Description RIMBUNAN SAWIT BERHAD (“RSB”)

(I) PROPOSED RENOUNCEABLE RIGHTS ISSUE OF UP TO 490,689,354 NEW ORDINARY SHARES OF RM0.50 EACH IN RSB (“RIGHTS SHARES”) ON THE BASIS OF 3 RIGHTS SHARES FOR EVERY 1 EXISTING ORDINARY SHARE OF RM0.50 EACH HELD IN RSB (“SHARE”) (“PROPOSED RIGHTS ISSUE”);

(II) PROPOSED BONUS ISSUE OF UP TO 654,252,472 NEW SHARES (“BONUS SHARES”) ON THE BASIS OF 1 BONUS SHARE FOR EVERY 1 SHARE HELD AFTER THE PROPOSED RIGHTS ISSUE (“PROPOSED BONUS ISSUE”);

(III) PROPOSED INCREASE IN THE AUTHORISED SHARE CAPITAL OF RSB FROM RM500,000,000 COMPRISING 700,000,000 SHARES AND 300,000,000 IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES OF RM0.50 EACH (“ICPS”) TO RM1,250,000,000 COMPRISING 2,200,000,000 SHARES AND 300,000,000 ICPS; AND

(IV) PROPOSED AMENDMENT TO THE MEMORANDUM OF ASSOCIATION OF RSB

(COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)

We refer to the announcement made on behalf of RSB in relation to the Proposals dated 27 May 2011 (“Announcement”).   

On behalf of RSB, CIMB Investment Bank Berhad (“CIMB”) wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) has, in its letter dated 8 July 2011, approved the following: 

(i)             Listing of and quotation for up to: 

(a)           490,689,354 new Shares to be issued pursuant to the Proposed Rights Issue; and 

(b)           654,252,472 new Shares to be issued pursuant to the Proposed Bonus Issue;  

(ii)           Listing and quotation of up to 539,244,542 new Shares to be issued arising from the adjustment to the conversion ratio of the outstanding ICPS pursuant to the Proposed Rights Issue and/or Proposed Bonus Issue. 

The approval granted by Bursa Securities for the Proposed Rights Issue/Proposed Bonus Issue is subject to the following conditions: 

(i)            RSB and CIMB must fully comply with the relevant provisions under the Main Market Listing Requirements of Bursa Securities (“Listing Requirements”) pertaining to the implementation of the Proposed Rights Issue/Proposed Bonus Issue; 

(ii)           RSB and CIMB to inform Bursa Securities upon the completion of the Proposed Rights Issue;  

(iii)          RSB to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Rights Issue/Proposed Bonus Issue is completed;  

(iv)          To provide Bursa Securities with a certified true copy of the resolution passed by the shareholders in a general meeting approving the Proposed Rights Issue/Proposed Bonus Issue;  

(v)           To incorporate the comments made by Bursa Securities in the circular to shareholders; and 

(vi)          RSB and CIMB are required to make the relevant announcements pursuant to Paragraph 6.35(2)(a) & (b) and 6.35(4) of the Listing Requirements.  

This announcement is dated 11 July 2011. 

 


Announcement Info

Company Name RIMBUNAN SAWIT BERHAD  
Stock Name RSAWIT    
Date Announced 11 Jul 2011  
Category General Announcement
Reference No MM-110711-53241