Highlights:
add free Download App
premium Premium Account

Last Price Change Volume
Open: Day Range: Prev Close:


NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING TFP SOLUTIONS BERHAD ("TFP") PRIVATE PLACEMENT

TFP SOLUTIONS BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description
TFP SOLUTIONS BERHAD ("TFP")

PRIVATE PLACEMENT

 

We refer to the announcements made on 21 May 2020, 29 May 2020, 3 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 the Board has on 17 August 2020 (“Price-fixing Date”) fixed the issue price for 20,673,000 Placement Shares at RM0.30 each (“Issue Price”).

 

The Issue Price is at a premium of RM0.1291 or 75.54% to the 5-day volume weighted average market price of TFP Shares up to and including 14 August 2020, being the last market day immediately preceding the Price-fixing Date, of RM0.1709 per TFP Share.

 

As the total proceeds to be raised from the Private Placement will be higher than the indicative proceeds as disclosed in the circular to shareholders dated 10 July 2020 (“Circular”), the gross proceeds from the Private Placement will be utilised as follows:

 

Purposes Notes RM'000 Expected time frame for the utilisation of proceeds (from the date of listing of the Placement Shares)
Working capital I (1) 4,815 Within 15 months
Working capital II (2) 4,540 Within 24 months
Expenses in relation to the Private Placement   113 Immediately
Total proceeds (3) 9,468  


Notes:
 

1. Working capital for the day-to-day operation of OneCall which include among others, staff costs, purchase of ICT infrastructure and marketing expenses as disclosed in the Circular. Please refer to the Circular for the detailed breakdown.

 

2. In view of higher issue price for the 1st tranche of 20,673,000 Placement Shares of RM0.30 each as compared to RM0.079 per Placement Share as disclosed in the Circular, the additional proceeds to be raised from the Private Placement (including subsequent tranches) will be utilised for the working capital of other ICT and Fintech related businesses. As the Group is still exploring and identifying other ICT and Fintech related businesses, the breakdown of the working capital for this segment can only be determined later.

 

3. Calculated based on 20,673,000 Placement Shares at RM0.30 each and the remaining 41,347,100 Placement Shares at RM0.079 each as disclosed in the Circular.

 

 

This announcement is dated 17 August 2020.






Announcement Info

Company Name TFP SOLUTIONS BERHAD
Stock Name TFP
Date Announced 17 Aug 2020
Category General Announcement for PLC
Reference Number GA1-17082020-00094




Close