We refer to the announcements made on 8 July 2022, 23 August 2022, 21 October 2022, 3 November 2022, 9 December 2022 and 23 December 2022 in relation to the Rights Issue (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.
On behalf of Industronics, TA Securities wishes to announce that as at the close of acceptance, excess application and payment for the Rights Issue at 5.00 p.m. on 11 January 2023 (“Closing Date”), the Company has received valid acceptances and excess applications for a total of 270,058,985 Rights Shares, representing a subscription rate of 30.86% over the total number of Rights Shares available for subscription under the Rights Issue.
The details of valid acceptances and excess applications received as at the Closing Date for the Rights Issue are as follows:
|
|
No. of Rights Shares
|
Percentage of total Rights Shares available for subscription (%)
|
|
Total valid acceptances
|
132,970,475
|
15.19
|
|
Total valid excess applications
|
137,088,510
|
15.67
|
|
Total valid acceptances and excess applications
|
270,058,985
|
30.86
|
|
Total Rights Shares available for subscription
|
875,060,548
|
100.00
|
|
Under-subscription
|
(605,001,563)
|
(69.14)
|
The minimum subscription level for the Rights Issue had been achieved notwithstanding the under-subscription for the Rights Issue.
The total number of excess Rights Shares available for allocation is 742,090,073. In view that the total number of excess Rights Shares applied for was 137,088,510, the Board has decided to allot the excess Rights Shares to all the entitled shareholders and/or their renouncee(s)/transferee(s) who have applied for the excess Rights Shares.
The Rights Shares with Warrants are expected to be listed and quoted on the Main Market of Bursa Securities on 27 January 2023.
This announcement is dated 16 January 2023.