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MULTIPLE PROPOSALS TFP SOLUTIONS BERHAD ("TFP") RIGHTS ISSUE

TFP SOLUTIONS BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
TFP SOLUTIONS BERHAD ("TFP")

RIGHTS ISSUE

We refer to the announcements made on 21 May 2020, 22 May 2020, 29 May 2020, 3 July 2020, 9 July 2020, 10 July 2020 and 4 August 2020 (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

 

On behalf of TFP, TA Securities wishes to announce that TFP has on 7 August 2020 (“Price-fixing Date”) fixed the issue price of Rights Shares at RM0.03 each (“Issue Price”).

 

The Issue Price is determined and fixed by the Board after taking into consideration the following:

 

(i) the amount to be raised as set out in Section 4 of the circular to shareholders of TFP dated 10 July 2020 (“Circular”).

 

(ii) the rationale for the Rights Issue as set out in Section 5 of the Circular; and

 

(iii) the TEAP of TFP Shares based on the 5D-VWAP of TFP Shares up to and including 6 August 2020 (being the last trading day prior to the Price-fixing Date) with a discount ranging between 30% to 50% to the TEAP of TFP Shares.

 

The Issue Price represents a discount of RM0.0261 or 46.52% to the TEAP of TFP Shares of RM0.0561, calculated based on the 5D-VWAP of TFP Shares up to and including 6 August 2020 (being the last trading day prior to the Price-fixing Date) of RM0.1082.

 

This announcement is dated 7 August 2020.






Announcement Info

Company Name TFP SOLUTIONS BERHAD
Stock Name TFP
Date Announced 07 Aug 2020
Category General Announcement for PLC
Reference Number GA1-07082020-00084




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