Mercury Securities
  • Try MST28 trading from Mercury Securities with rates as low as 0.05%.
  • Earn MS Coin when you trade with MST28. Check out MST28.
  • Try MST28 trading from Mercury Securities with rates as low as 0.05%.
  • Get FREE real time quotes on our website & App. Check out MST28.
Open Trading Account
add free Download App
premium Premium Account

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


MULTIPLE PROPOSALS VSOLAR GROUP BERHAD ("VSOLAR" OR THE "COMPANY") (I) PROPOSED DIVERSIFICATION; (II) PROPOSED SHARE CONSOLIDATION; AND (III) PROPOSED RIGHTS ISSUE WITH WARRANTS

VSOLAR GROUP BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
VSOLAR GROUP BERHAD ("VSOLAR" OR THE "COMPANY")

(I)	PROPOSED DIVERSIFICATION; 
(II)	PROPOSED SHARE CONSOLIDATION; AND
(III)	PROPOSED RIGHTS ISSUE WITH WARRANTS

On behalf of the Board of Directors of the Company (“Board”), M&A Securities Sdn Bhd (“M&A Securities”) wishes to announce that the Company intends to undertake the following proposals:

 

1. proposed diversification of the business of Vsolar and its subsidiaries (“Vsolar Group” or the “Group”) to include the sales and trading of spare parts for railway vehicles (“Proposed Diversification”);

 

2. proposed consolidation of every 30 existing ordinary shares in Vsolar (“Vsolar Share(s)” or “Share(s)”) into 1 Share (“Consolidated Share(s)”) (“Proposed Share Consolidation”); and

 

3. proposed renounceable rights issue of up to 791,850,045 new Shares (“Rights Shares”) together with up to 395,925,022 free detachable warrants in Vsolar (“Warrants C”) on the basis of 4 Rights Shares together with 2 Warrants C for every 1 Consolidated Share held by the entitled shareholders of the Company on an entitlement date to be determined (“Proposed Rights Issue with Warrants”).

 

The Proposed Diversification, Proposed Share Consolidation and Proposed Rights Issue with Warrants are collectively referred to as the “Proposals”.

 

The details of the Proposals are set out in the attachment. 

 

This announcement is dated 8 April 2022.




Please refer attachment below.

Attachments

Multiple proposals.pdf
330.8 kB



Announcement Info

Company Name VSOLAR GROUP BERHAD
Stock Name VSOLAR
Date Announced 08 Apr 2022
Category General Announcement for PLC
Reference Number GA1-06042022-00056




Close