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 RESINTECH BERHAD ("RESINTECH" OR THE "COMPANY") I. BONUS ISSUE OF SHARES; AND II. BONUS ISSUE OF WARRANTS (COLLECTIVELY REFERRED TO AS THE "CORPORATE EXERCISES")

RESINTECH BERHAD

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

I.	BONUS ISSUE OF SHARES; AND

II.	BONUS ISSUE OF WARRANTS

(COLLECTIVELY REFERRED TO AS THE "CORPORATE EXERCISES")

The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcements in relation to the Corporate Exercises.

We refer to the earlier announcements dated 1 April 2022, 17 May 2022 and 14 June 2022 in relation to the Corporate Exercises.

On behalf of the Board, UOBKH wishes to announce that the Board had on 8 August 2022 ("Price-Fixing Date") resolved to fix the exercise price of the Warrants at RM0.57 per Warrant ("Exercise Price").

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

i. the historical price movement of Resintech Shares;

ii. the theoretical ex-bonus price ("TEBP") of Resintech Shares based on the 5-day volume weighted average market price ("VWAP") of Resintech Shares immediately preceding the Price-Fixing Date and the Board's intention to fix the Exercise Price at a discount at a range of nil to 20% to the TEBP of Resintech Shares based on the 5-day VWAP of Resintech Shares immediately preceding the Price-Fixing Date;

iii. the Warrants are exercisable at any time for a tenure of 5 years from the date of issuance of the Warrants which may provide the shareholders an alternative to participate and trade in the equity derivative of Resintech over the tenure of Warrants and potentially realize a capital gain in the event of any Share price appreciation; and

iv. the Warrants will be issued at no cost.

The Exercise Price represents a discount of approximately 0.87% to the TEBP of Resintech Shares of RM0.575, based on the 5-day VWAP of Resintech Shares immediately preceding the Price-Fixing Date of RM0.7677 per Resintech Share.

Further, on behalf of the Board, UOBKH wishes to announce that the Company had on 8 August 2022, executed the Deed Poll constituting the Warrants to be issued pursuant to the Bonus Issue of Warrants.

 

This announcement is dated 8 August 2022.






Announcement Info

Company Name RESINTECH BERHAD
Stock Name RESINTC
Date Announced 08 Aug 2022
Category General Announcement for PLC
Reference Number GA1-08082022-00044




Close