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NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING FOCUS DYNAMICS GROUP BERHAD (''FOCUS'' OR THE ''COMPANY'') RIGHTS ISSUE OF ICPS WITH WARRANTS

FOCUS DYNAMICS GROUP BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description
FOCUS DYNAMICS GROUP BERHAD (''FOCUS'' OR THE ''COMPANY'')

RIGHTS ISSUE OF ICPS WITH WARRANTS

(For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcement dated 18 August 2020 in relation to the Rights Issue of ICPS with Warrants.)

 

On behalf of the Board, Mercury Securities wishes to announce that the Company has resolved to fix the issue price of the ICPS at RM0.055 per ICPS (“Issue Price”) and the exercise price of the Warrants D at RM0.80 per Warrant D (“Exercise Price”).

 

The Board had fixed the Issue Price after taking into consideration, amongst others, the following:-

 

(i)         the funding requirements of the Group;

 

(ii)         the TEAP of the Shares based on the 5-day VWAP of the Shares up to and including 16 October 2020, being the last trading day before the price-fixing date (“LTD”); and

 

(iii)        the rationale for the Rights Issue of ICPS with Warrants, details of which are set out in Section 7.2 of the circular to shareholders of the Company in relation to, amongst others, the Rights Issue of ICPS with Warrants dated 17 September 2020.

 

Based on the Issue Price and the conversion ratio of 10 ICPS for every 1 new Share, the Conversion Price of RM0.55 represents a discount of 34.20% to the TEAP of the Shares of RM0.8359, calculated based on the 5-day VWAP of the Shares up to and including the LTD of RM2.5901 and after adjusting for the effects of the Share Split.

 

The Board had fixed the Exercise Price after taking into consideration, amongst others, the TEAP of the Shares. The Exercise Price represents a discount of 4.29% to the aforementioned TEAP.

 

This announcement is dated 19 October 2020.






Announcement Info

Company Name FOCUS DYNAMICS GROUP BERHAD
Stock Name FOCUS
Date Announced 19 Oct 2020
Category General Announcement for PLC
Reference Number GA1-19102020-00113




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