MULTIPLE PROPOSALS PRICEWORTH INTERNATIONAL BERHAD ("PWI" OR THE "COMPANY") (I) PROPOSED ACQUISITION; (II) PROPOSED PRIVATE PLACEMENT; (III) PROPOSED SPECIAL ISSUE; (IV) PROPOSED RIGHTS ISSUE; (V) PROPOSED INCREASE IN THE AUTHORISED SHARE CAPITAL; (VI) PROPOSED AMENDMENT; (VII) PROPOSED ACQUISITION OF SSB; AND (VIII) PROPOSED LISTING
PRICEWORTH INTERNATIONAL BERHAD
Type Announcement Subject MULTIPLE PROPOSALS Description PRICEWORTH INTERNATIONAL BERHAD ("PWI" OR THE "COMPANY")
(I) PROPOSED ACQUISITION;
(II) PROPOSED PRIVATE PLACEMENT;
(III) PROPOSED SPECIAL ISSUE;
(IV) PROPOSED RIGHTS ISSUE;
(V) PROPOSED INCREASE IN THE AUTHORISED SHARE CAPITAL;
(VI) PROPOSED AMENDMENT;
(VII) PROPOSED ACQUISITION OF SSB; AND
(VIII) PROPOSED LISTING We refer to the announcements dated 19 October 2016, 7 March 2017 and 13 March 2017 in relation to the Proposals (“Announcements”).
Unless otherwise defined, all expressions used in this announcement shall carry the same meaning as defined in the Announcements.
On behalf of the Board of Directors of PWI, RHB Investment Bank wishes to announce that PWI had on 4 May 2017 received the approval from Bursa Securities for the listing and quotation of up to 215,639,880 new PWI Shares to be issued pursuant to the Proposed Special Issue subject to the following conditions:
(i) PWI and RHB Investment Bank must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Special Issue;
(ii) PWI and RHB Investment Bank to inform Bursa Securities upon the completion of the Proposed Special Issue;
(iii) PWI to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposed Special Issue is completed;
(iv) PWI to furnish Bursa Securities with a certified true copy of the resolution passed by the shareholders in a general meeting approving the Proposed Special Issue; and
(v) RHB Investment Bank to furnish Bursa Securities with details of the placees in accordance with Paragraph 6.15 of the Listing Requirements as soon as practicable before the listing of the new shares to be issued pursuant to the Proposed Special Issue.
The Star 9 May 2017. Support Line by KM Lee. A successful breakout of the 26.5 cent barrier opens the doors for the bulls to test the fairly stiff resistance of 30 cents.
Sniper Elite - key idea for the stock is that it is expected to make around RM100m in net profit after FMU5 acquisition. The acquisition cost RM260m, which the company will need to raise via private placement (already done), special issue, rights issue (that comes with bonus share), and the listing of the subsidiary holding FMU 5 (probably will list 20-30% stake). Current market cap is only RM170m. Even if you add up all the proceeds from rights and special issue (totalling RM110-120m), the implied proforma PE is still cheap.
@gohky87 bro I'm fine thank you thank you, was playing gnb for coffee money n krono sell half keep half... now still waiting for pworth to bail out hahaha how's yours? looking good i see :)
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....
jhxt1234
121 posts
Posted by jhxt1234 > 2017-05-04 07:38 | Report Abuse
Looks quite positive.Up bit by bit is OK. QR1 good then people will rush in.