The Board of Directors of NWP ("Board") wishes to announce that the Company had on 4 July 2016 entered into the memorandum of understanding (MOU) with the following parties:-
a) A Memorandum of Understanding with Listari Marina (MM2H) Sdn. Bhd. (Company No: 415393-V) (hereinafter referred as “LMSB”) for the proposed appointment of the Company as main contractor on the proposed development by LMSB of 160 units of service suites in Pekan Klebang Sek 11, Daerah Melaka Tengah, Melaka (“Project”) (“LMSB MOU”); and
b) A Strategic Partner Memorandum of Understanding with SCEGC Installation Group Company Ltd. (hereinafter referred as “SCEGC”) to jointly develop a strategic partnership for any construction in Malaysia (“SCEGC MOU”).
(LMSB MOU and SCEGC MOU are collectively referred to as “MOUs”)
Please refer the attachment for further details on the MOU.
KUALA LUMPUR (July 19): NWP Holdings Bhd announced a series corporate exercises, including a private placement of up to 10% of the group's existing issued and paid-up share capital to raise up to RM9.6 million for working capital.
The timber products manufacturer told Bursa Malaysia today that it is also proposing a share issuance scheme of up to 15% of the company's issued and paid-up share capital for the eligible directors and employees of NWP and its non-dormant subsidiaries as a reward for their contributions.
Other proposals include an increase in its authorised share capital from RM100 million comprising 400 million ordinary shares of 25 sen each to RM500 million comprising two billion NWP shares, and amendments to its memorandum of association to facilitate the proposed increase in authorised share capital.
The group said the issue price of the placement shares will be determined and fixed by the board at a later date.
Based on an indicative issue price of 30 sen per placement share, the group expects gross proceeds of up to RM9.6 million, which will be utilised as working capital.
As at Feb 28, the group's total payables stood at about RM5.79 million, while cash and bank balances stood at about RM100,000.
"Thus, the additional funds to be raised from the proposed private placement [are] expected to ease the group's cash flows," it added.
Shares in NWP fell 0.5 sen or 1.56% to close at 31.5 sen, with 660,400 shares traded today.
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sulaimanab1955
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Posted by sulaimanab1955 > 2016-06-20 10:45 | Report Abuse
Up again!