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

BackJun 10, 2016
Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description

MALAYSIA BUILDING SOCIETY BERHAD ("MBSB" OR "COMPANY") RENOUNCEABLE TWO-CALL RIGHTS ISSUE OF NEW ORDINARY SHARES OF RM1.00 EACH IN MBSB ("MBSB SHARES" OR "SHARES") TO RAISE GROSS PROCEEDS OF UP TO RM2.00 BILLION ("RIGHTS ISSUE")

Reference is made to the announcements dated 10 March 2016, 14 March 2016, 15 April 2016, 5 May 2016 and 9 June 2016 (“Earlier Announcements”) and the circular dated 20 April 2016 (“Circular”) in relation to the Rights Issue. Unless otherwise stated, defined terms in this announcement shall carry the same meanings as defined in the Earlier Announcements and Circular.

The Board had on 9 June 2016 announced the fixing of the entitlement basis, Issue Price, First Call and Second Call of the Rights Issue.  Accordingly, the proceeds to be raised from the Rights Issue would be approximately RM1.711 billion based on the enlarged issued paid-up share capital of MBSB of 2,899,387,079 (after taking into consideration the issued and paid-up share capital of MBSB as at 3 June 2016, the new MBSB Shares to be issued pursuant to the dividend reinvestment plan and the exercise of warrants).

In view of the lower proceeds to be raised, on behalf of the Board, the Joint Advisers wish to announce that the utilisation of proceeds shall be revised as follows:-

Details of utilisation

 

Timeframe for utilisation*

 As set out in the Circular

Revised

RM’ million

RM’ million

(a)Purchase of liquefiable assets

Within 12 months

800

511

(b) Expansion of financing business

Within 12 months

1,100

1,100

(c) Working capital purposes

Within 12 months

86

86

(d) Defrayment of estimated expenses in relation to the Rights Issue

Within 6 months

14

14

Total

 

2,000

1,711

Note:-

*From the date of listing of the Rights Shares.

Further details will be set out in the Abridged Prospectus in relation to the Rights Issue which will be despatched to the Entitled Shareholders in due course.

This announcement is dated 10 June 2016.





Announcement Info

Company Name MALAYSIA BUILDING SOCIETY BERHAD
Stock Name MBSB
Date Announced 10 Jun 2016
Category General Announcement for PLC
Reference Number GA1-10062016-00034