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NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING ORIENTAL INTEREST BERHAD ("OIB" OR THE "COMPANY") RENOUNCEABLE RIGHTS ISSUE OF 154,858,394 NEW ORDINARY SHARES IN OIB ("OIB SHARE(S)" OR "SHARE(S)") ("RIGHTS SHARE(S)") ON THE BASIS OF 1 RIGHTS SHARE FOR EVERY 1 EXISTING OIB SHARE HELD AS AT 5.00 P.M. ON TUESDAY, 4 MAY 2021, TOGETHER WITH 154,858,394 FREE DETACHABLE WARRANTS ("WARRANT(S)") ON THE BASIS OF 1 WARRANT FOR EVERY 1 RIGHTS SHARE SUBSCRIBED, AT AN ISSUE PRICE OF RM0.68 PER RIGHTS SHARE ("RIGHTS ISSUE WITH WARRANTS")

ORIENTAL INTEREST BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description
ORIENTAL INTEREST BERHAD ("OIB" OR THE "COMPANY")

RENOUNCEABLE RIGHTS ISSUE OF 154,858,394 NEW ORDINARY SHARES IN OIB ("OIB SHARE(S)" OR "SHARE(S)") ("RIGHTS SHARE(S)") ON THE BASIS OF 1 RIGHTS SHARE FOR EVERY 1 EXISTING OIB SHARE HELD AS AT 5.00 P.M. ON TUESDAY, 4 MAY 2021, TOGETHER WITH 154,858,394 FREE DETACHABLE WARRANTS ("WARRANT(S)") ON THE BASIS OF 1 WARRANT FOR EVERY 1 RIGHTS SHARE SUBSCRIBED, AT AN ISSUE PRICE OF RM0.68 PER RIGHTS SHARE ("RIGHTS ISSUE WITH WARRANTS")

We refer to the previous announcements and the Abridged Prospectus dated 4 May 2021 in relation to the Rights Issue with Warrants. The terms used herein shall, unless the context otherwise states, have the same meaning as those defined in the Abridged Prospectus.

 

On behalf of the Board, UOBKH wishes to announce that as at the close of acceptance, excess application and payment for the Rights Issue with Warrants at 5.00 p.m. on Friday, 21 May 2021, the total acceptances and excess applications for the Rights Issue with Warrants were 186,361,214 Rights Shares, which represents an over-subscription of 20.34% over the total number of Rights Shares available for subscription under the Rights Issue with Warrants.

 

The details of the subscription are set out below:-

 

 

No. of Rights Shares

(%)

Total valid acceptances

151,965,182

98.13

Total valid Excess Applications

34,396,032

22.21

Total valid acceptances and Excess Applications

186,361,214

120.34

Total Rights Shares available for subscription

154,858,394

100.00

Over-subscription

31,502,820

20.34

 

The Excess Rights Shares with Warrants will be allotted on a fair and equitable manner and in the following priority:-

 

  1. firstly, to minimise the incidence of odd lots;
  2. secondly, for allocation to Entitled Shareholders who have applied for the Excess Rights Shares with Warrants, on a pro-rata basis and in board lot, calculated based on their respective shareholdings in OIB as at the Entitlement Date;
  3. thirdly, for allocation to Entitled Shareholders who have applied for the Excess Rights Shares with Warrants, on a pro-rata basis and in board lot, calculated based on the quantum of their respective Excess Rights Shares with Warrants applied for; and
  4. finally, for allocation to renouncee(s)/transferee(s) (if applicable) who have applied for the Excess Rights Shares with Warrants, on a pro-rata basis and in board lot, calculated based on the quantum of their respective Excess Rights Shares with Warrants applied for.

 

In the event there is any remaining balance of the Excess Rights Shares with Warrants applied for by the Entitled Shareholders and/or their renouncee(s)/transferee(s) (if applicable) who have applied for the Excess Rights Shares with Warrants after carrying out steps (i) to (iv) as set out above, steps (ii) to (iv) will be repeated in the same sequence to allocate the remaining balance of the Excess Rights Shares with Warrants to the Entitled Shareholders and/or their renouncee(s)/transferee(s) (if applicable) who have applied for the Excess Rights Shares with Warrants until such balance is fully allocated.

 

Any remaining Excess Rights Shares with Warrants thereafter which OIB is unable to allocate to the Entitled Shareholders and/or their renouncee(s)/transferee(s) (if applicable) will then be allocated to the major shareholders at the discretion of the Board.

 

Nevertheless, the Board reserves the right to allot any Excess Rights Shares with Warrants applied for in such manner as the Board deems fit and expedient in the best interest of OIB subject always to such allocation being made on a fair and equitable basis, and that the intention of the Board as set out in steps (i) to (iv) above are achieved.

 

 

This announcement is dated 27 May 2021.






Announcement Info

Company Name ORIENTAL INTEREST BERHAD
Stock Name OIB
Date Announced 27 May 2021
Category General Announcement for PLC
Reference Number GA1-27052021-00096




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