It was the intention of the Company to complete the Proposed Private Placement prior to the implementation of the Proposed Rights Issue with Warrants. As such, the Proposed Rights Issue with Warrants was conditional upon completion of the Proposed Private Placement.
The indicative issue price per Placement Share is assumed to be RM0.035 (“Indicative Placement Issue Price”), which represents a discount of approximately 3.58% to the 5D-VWAMP of Bina Puri Shares up to and including LPD of RM0.0363 per Share;
I'm more concern about the "indicative" issue price per placement share as noted in the proposal. YES, THE REAL ISSUE PRICE CAN BE HIGHER THAN THE PROPOSED / INDICATIVE PRICE in the condition the management of the company plan and actualize it later before the company want to execute the Placement Share. BUT.... if the management of the company just want to stick at the proposed issue price for execution of the PP, the chance to "goreng" the price higher will be limited.
RENOUNCEABLE RIGHTS ISSUE OF UP TO 1,402,258,933 NEW ORDINARY SHARES IN BINA PURI HOLDINGS BHD ("BINA PURI") ("BINA PURI SHARES" OR "SHARES") ("RIGHTS SHARES") ON THE BASIS OF 2 RIGHTS SHARES FOR EVERY 3 EXISTING BINA PURI SHARES HELD AS AT 5.00 P.M. ON MONDAY, 27 MARCH 2023, TOGETHER WITH UP TO 280,451,788 FREE DETACHABLE WARRANTS B IN BINA PURI ("WARRANT(S) B") ON THE BASIS OF 1 WARRANT B FOR EVERY 5 RIGHTS SHARES SUBSCRIBED, AT AN ISSUE PRICE OF RM0.035 PER RIGHTS SHARE ("RIGHTS ISSUE WITH WARRANTS")
Ex-Date 24 Mar 2023
Date for commencement of trading of rights 28 Mar 2023 Date for cessation of trading of rights 04 Apr 2023
Acceptance and Payment 11 Apr 2023 05:00 PM Excess share application and payment 11 Apr 2023 05:00 PM
Date for announcement of final subscription result and basis of allotment of excess Rights Securities 17 Apr 2023
Not many retail investors and shareholders might subscribe for the rights issue as current stock price is more or less same as rights issue price (0.035)
Watch out for other penny stocks directors who will come in to subscribe under the excess applications to support the success of the fund raising exercise
Changes in Director's Interest (Section 219 of CA 2016) Particulars of Director Name TAN SRI DATUK TEE HOCK SENG, JP 1 18/04/2023 123,630,632 Others Direct Interest
2 18/04/2023 20,457,037 Others Direct Interest
3 18/04/2023 256,279,439 Others Indirect Interest Name of registered holder Datuk Matthew Tee Kai Woon
4 18/04/2023 533,333 Others Indirect Interest Name of registered holder Tee Hock Seng Holdings Sdn. Bhd
Subscription of Rights Issue Nature of interest Direct and Indirect Interest Total no of securities after change Direct (units) 273,219,173 Direct (%) 8.108 Indirect/deemed interest (units) 342,031,931 Indirect/deemed interest (%) 10.150 Date of notice 20/04/2023
Changes in Director's Interest (Section 219 of CA 2016)
Particulars of Director Name DATUK MATTHEW TEE KAI WOON
1 18/04/2023 256,279,439 Others Direct Interest
2 18/04/2023 123,630,632 Others Deemed Interest Name of registered holder Tan Sri Datuk Tee Hock Seng
3 18/04/2023 20,457,037 Others Deemed Interest Name of registered holder RHB Nominees (Tempatan) Sdn. Bhd. BOC Pledged Securities Account For Tan Sri Datuk Tee Hock Seng
4 18/04/2023 533,333 Others Deemed Interest Name of registered holder Tee Hock Seng Holdings Sdn. Bhd
Subscription of Rights Issue
Total no of securities after change Direct (units) 340,698,598 Direct (%) 10.111 Indirect/deemed interest (units) 274,552,506 Indirect/deemed interest (%) 8.148 Date of notice 20/04/2023
Notice of Interest Sub. S-hldr (Section 137 of CA 2016)
Particulars of Substantial Securities Holder
Name MAJU OFFSHORE SDN. BHD. Address of registered holder C-02-08 & C-02-09, Block C, Cheras Centrepoint, Medan Connaught, No. 1, Jalan 3/144A, 56000 Kuala Lumpur.
Date interest acquired 18 Apr 2023 No of securities 169,636,188 Subscription of Rights Issue
Total no of securities after change Direct (units) 169,656,188 Direct (%) 5.035 Date of notice 05 May 2023
=============== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance
KUALA LUMPUR: Bina Puri Holdings Bhd's (BPH) 49 per cent-owned joint venture company, Chun Yang Bina Puri (JV) Sdn Bhd, has bagged a contract from Tokoh Ilham Sdn Bhd for a project under the public works department.
The contract, valued at RM72.85 million, involves subcontracting works in Jalan Kampung Medong, Lebrasau, and Kampung Klid in Mukah, Sarawak. The contract is for 24 months and is expected to be completed by the third quarter of 2025.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
MZM2511
4,551 posts
Posted by MZM2511 > 2022-08-19 19:50 | Report Abuse
It was the intention of the Company to complete the Proposed Private Placement prior to the implementation of the Proposed Rights Issue with Warrants. As such, the Proposed Rights Issue with Warrants was conditional upon completion of the Proposed Private Placement.