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MULTIPLE PROPOSALS VIZIONE HOLDINGS BERHAD ("VIZIONE" OR "COMPANY") (I) PROPOSED VARIATION; (II) PROPOSED DIVERSIFICATION; AND (III) PROPOSED RIGHTS ISSUE OF SHARES WITH WARRANTS

VIZIONE HOLDINGS BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
VIZIONE HOLDINGS BERHAD ("VIZIONE" OR "COMPANY")

(I)	PROPOSED VARIATION; 
(II)	PROPOSED DIVERSIFICATION; AND  
(III)	PROPOSED RIGHTS ISSUE OF SHARES WITH WARRANTS

On behalf of the Board of Directors of Vizione (“Board”), TA Securities Holdings Berhad (“TA Securities”) wishes to announce that the Company proposes to undertake the following:

 

(i)                    proposed variation of the utilisation of proceeds raised from the private placement which was completed on 2 June 2021 to the current intended utilisation (“Proposed Variation”);

 

(ii)                   proposed diversification of the existing business of Vizione and its subsidiaries (“Vizione Group” or “Group”) to include manufacturing and trading of rubber gloves and related healthcare products (“Gloves and Related Healthcare Products Business”) (“Proposed Diversification”); and

 

(iii)                  proposed renounceable rights issue of up to 1,369,132,873 new ordinary shares in Vizione (“Vizione Shares” or “Shares”) (“Rights Shares”) on the basis of 1 Rights Share for every 1 existing share held on an entitlement date to be determined later (“Entitlement Date”), together with up to 684,566,436 free detachable warrants (“Warrants E”) on the basis of 1 Warrant E for every 2 Rights Shares subscribed for an issue price to be determined and announced by the Board at a later date (“Proposed Rights Issue of Shares with Warrants”),

 

(“Proposals”, collectively).

 

Further details of the Proposals are set out in the announcement attached herein.

 

This announcement is dated 14 July 2021.




Please refer attachment below.



Announcement Info

Company Name VIZIONE HOLDINGS BERHAD
Stock Name VIZIONE
Date Announced 14 Jul 2021
Category General Announcement for PLC
Reference Number GA1-14072021-00048




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