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NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING REX INDUSTRY BERHAD ("REX" OR THE "COMPANY") RIGHTS ISSUE WITH WARRANTS

REX INDUSTRY BERHAD

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

RIGHTS ISSUE WITH WARRANTS

The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcements in relation to the Rights Issue with Warrants.

We refer to the earlier announcements dated 28 January 2022, 21 March 2022 and 4 April 2022 in relation to the Rights Issue with Warrants.

On behalf of the Board, UOBKH wishes to announce that the Board had on 3 June 2022 ("Price-Fixing Date") resolved to fix the issue price of the Rights Shares at RM0.10 per Rights Share ("Issue Price") and the exercise price of the Warrants at RM0.15 per Warrant ("Exercise Price").

The Issue Price was determined and fixed by the Board after taking into consideration the following:-

i. The funding requirements of the Group as set out in Section 2.8 of the circular to shareholders of Rex in relation to the Rights Issue with Warrants dated 25 April 2022 ("Circular");

ii. The TERP of RM0.1782 per Rex Shares, calculated based on 5-day VWAP of Rex Shares up to and including 2 June 2022, being the last market day immediately preceding the Price-Fixing Date of RM0.2074 per Rex Share;

iii. The Board's intention to fix the Issue Price at a discount range of 35% to 55% to the TERP;

iv. The prevailing market conditions and current and historical market price of Rex Shares for the past 12 months; and

v. The rationale for the Proposed Rights Issue with Warrants as set out in Section 3 of the Circular.

The Exercise Price was determined and fixed by the Board after taking into consideration the following:-

i. The Warrants will be issued at no cost to the Entitled Shareholders and/ or their renouncee(s) who successfully subscribe for the Rights Shares;

ii. The historical trading prices of Rex Shares for the past 12 months; and

iii. The Board's intention to fix the Exercise Price at a discount range of nil to 20% to the TERP, calculated based on the 5-day VWAP of Rex Shares up to and including the last market day immediately preceding the Price-Fixing Date.

The Issue Price represents a discount of 43.88% to the TERP of RM0.1782 per Rex Share, calculated based on the 5-day VWAP of Rex Shares up to and including 2 June 2022, being the last market day immediately preceding the Price-Fixing Date of RM0.2074 per Rex Share. The Exercise Price represents a discount of 15.82% to the TERP of RM0.1782 per Rex Share.

 

This announcement is dated 3 June 2022.






Announcement Info

Company Name REX INDUSTRY BERHAD
Stock Name REX
Date Announced 03 Jun 2022
Category General Announcement for PLC
Reference Number GA1-03062022-00036




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