On behalf of the Board, M&A Securities wishes to announce that the Company has submitted an application to Bursa Securities for the withdrawal of the Application with the intention to submit an updated valuation report and valuation certificate in relation to the Proposed Acquisition to Bursa Securities (“Withdrawal Application”). Further, Bursa Securities has taken note of the Withdrawal Application and the Board shall make further announcement on the Proposals in due course.
ICONIC WORLDWIDE BERHAD ("ICONIC" OR THE "COMPANY")
- PROPOSED ACQUISITION; - PROPOSED RIGHTS ISSUE WITH WARRANTS; AND - PROPOSED EXEMPTION
We refer to the conditional share sale agreement dated 19 September 2022 entered into between Iconic, Dato’ Seri Tan Kean Tet and Tan Seok Ying for the Proposed Acquisition ("SPA") and supplemental letter to the SPA dated 15 December 2022.
On behalf of the Company, M&A Securities Sdn Bhd wishes to announce that the parties to the SPA have mutually agreed to extend the long stop date of the SPA by 3 months until 18 June 2023 to fulfil the conditions precedent.
Last push up before fund raising via massive rights issue exercise
Price fixing for rights share on the making
Holders have to take out more money to subscribe for rights shares (around 0.10 per share) Directors looks set to collect more money from rights subscription Estimated > RM100 million, quick easy fund raising
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....
whistlebower99
5,260 posts
Posted by whistlebower99 > 2023-02-10 10:18 | Report Abuse
On behalf of the Board, M&A Securities wishes to announce that the Company has submitted an application to Bursa Securities for the withdrawal of the Application with the intention to submit an updated valuation report and valuation certificate in relation to the Proposed Acquisition to Bursa Securities (“Withdrawal Application”). Further, Bursa Securities has taken note of the Withdrawal Application and the Board shall make further announcement on the Proposals in due course.
This announcement is dated 9 February 2023.
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3326627
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Updated valuation to benefit seller or company shareholders
Stay tune for the revision