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NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING TFP SOLUTIONS BERHAD ("TFP" OR "COMPANY") RIGHTS ISSUE

TFP SOLUTIONS BERHAD

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

RIGHTS ISSUE

We refer to the announcements made on 21 May 2020, 29 May 2020, 3 July 2020, 10 July 2020, 4 August 2020, 7 August 2020, 13 August 2020, 14 August 2020 and 28 August 2020 in relation to the Rights Issue (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

 

On behalf of TFP, TA Securities wishes to announce that as at the close of acceptance, excess application and payment for the Rights Issue at 5.00 p.m. on 15 September 2020 (“Closing Date”), the Company has received valid acceptances and excess applications for a total of 603,127,741 Rights Shares, representing a subscription rate of 265.22% over the total number of Rights Shares available for subscription under the Rights Issue, resulting in an over-subscription rate of 165.22%.

 

The details of valid acceptances and excess applications received as at the Closing Date for the Rights Issue are as follows:

 

 

 

 

No. of Rights Shares

 

 

Percentage of total issue (%)

Total valid acceptances 218,356,442 96.02
Total valid excess applications 384,771,299 169.20
Total valid acceptances and excess applications 603,127,741 265.22
Total Rights Shares available for subscription 227,406,945  100.00
Over-subscription 375,720,796 165.22

 

The successful applicants for the Rights Shares will be given Warrants on the basis of 1 Warrant for every 1 Rights Share successfully subscribed for.

 

The Board has applied the following basis in allocating the excess Rights Shares with Warrants, in accordance with the abridged prospectus dated 28 August 2020:

 

(i) firstly, to minimise the incidence of odd lots;

 

(ii) secondly, for allocation to the Entitled Shareholders who have applied for excess Rights Shares with Warrants, on a pro-rata basis and in board lots, calculated based on their respective shareholdings in the Company as at the Entitlement Date;

 

(iii) thirdly, for allocation to the Entitled Shareholders who have applied for excess Rights Shares with Warrants, on a pro-rata basis and in board lots, calculated based on the quantum of their respective excess applications; and

 

(iv) lastly, for allocation to renouncee(s)/transferee(s) (if applicable) who has/have applied for the excess Rights Shares with Warrants, on a pro-rata basis and in board lots, calculated based on the quantum of their respective excess applications.

 

If there is any remaining excess Rights Shares with Warrants after steps (i) to (iv) have been carried out, the balance will be allocated again through the same sequence of allocations as set out in steps (ii) to (iv) above until all remaining excess Rights Shares with Warrants are allocated.

 

The Rights Shares with Warrants are expected to be listed and quoted on the ACE Market of Bursa Securities on 30 September 2020.

 

This announcement is dated 22 September 2020.






Announcement Info

Company Name TFP SOLUTIONS BERHAD
Stock Name TFP
Date Announced 22 Sep 2020
Category General Announcement for PLC
Reference Number GA1-22092020-00010




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