MULTIPLE PROPOSALS 16 Apr 2015, 17:58 MULTIPLE PROPOSALS M3 TECHNOLOGIES (ASIA) BERHAD ("M3TECH OR COMPANY") (I) PROPOSED RIGHTS ISSUE WITH WARRANTS; (II) PROPOSED ESOS; (III) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL; AND (IV) PROPOSED M&A AMENDMENTS, (COLLECTIVELY REFERRED TO AS THE PROPOSALS") You are advised to read the full announcement at http://www.bursamalaysia.com
On behalf of the Board of Directors of M3Tech, Public Investment Bank Berhad wishes to announce that the Company proposes to undertake the following:
(i) proposed renounceable rights issue of up to 395,152,428 new ordinary shares of RM0.10 each in M3Tech (“M3Tech Shares”) (“Rights Shares”) together with up to 296,364,321 free detachable warrants (“Warrants”) at an issue price of RM0.10 per Rights Share on the basis of four (4) Rights Shares together with three (3) Warrants for every two (2) existing M3Tech Shares held on an entitlement date to be determined and announced later (“Entitlement Date”) based on a minimum subscription level of 80,000,000 Rights Shares together with 60,000,000 Warrants (“Minimum Subscription Level”) (“Proposed Rights Issue with Warrants”);
(ii) proposed establishment of an employees’ share option scheme (“ESOS” or "Scheme") of up to 30% of the prevailing issued and paid-up share capital of the Company (excluding treasury shares) for the eligible employees (including Directors) of M3Tech and its subsidiaries ("M3Tech Group" or "Group"), who meet the criteria of eligibility for participation in the Scheme (“Eligible Employee(s)”) as set out in the by-laws containing the rules, terms and conditions of the Scheme (“By-Laws”) (“Proposed ESOS”);
(iii) proposed increase in the authorised share capital of M3Tech from RM25,000,000 comprising 250,000,000 M3Tech Shares to RM200,000,000 comprising 2,000,000,000 M3Tech Shares (“Proposed Increase in Authorised Share Capital”); and
(iv) proposed amendments to the Memorandum and Articles of Association of M3Tech (“M&A”) to facilitate the Proposed Increase in Authorised Share Capital and the Proposed ESOS (“Proposed M&A Amendments”).
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Please refer to the attached announcement for details relating to the Proposals.
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patgim
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Posted by patgim > 2012-09-23 09:34 | Report Abuse
Any news about M3TECH?