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NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING CAREPLUS GROUP BERHAD ("CAREPLUS" OR THE "COMPANY") PROPOSED PRIVATE PLACEMENT OF UP TO 10% OF THE TOTAL NUMBER OF ISSUED SHARES OF CAREPLUS (EXCLUDING TREASURY SHARES) ("PROPOSED PRIVATE PLACEMENT")

Amended Announcements
Please refer to the earlier announcement reference number: GA1-20072017-00076

CAREPLUS GROUP BERHAD

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

PROPOSED PRIVATE PLACEMENT OF UP TO 10% OF THE TOTAL NUMBER OF ISSUED SHARES OF CAREPLUS (EXCLUDING TREASURY SHARES) ("PROPOSED PRIVATE PLACEMENT")

The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcement in relation to the Proposed Private Placement.

We refer to the announcement made by RHB Investment Bank Berhad, on behalf of the Board of Directors of Careplus ("Board") on 20 July 2017 in relation to the Proposed Private Placement.

We wish to draw attention to Section 2.6 of the aforesaid announcement and on behalf of the Board, we wish to clarify that the details of utilisation shall be read as follows (as highlighted in bold):-

Details of utilisation Estimated timeframe for utilisation from the date of listing of the Placement Shares Amount of proceeds
    RM'000
     
Construction of new building Within 12 months 8,000
     
Installation of new production lines Within 24 months 10,747
     
Estimated expenses in relation to the Proposed Private Placement Within 3 months 100

Total

  18,847


In addition to that, the proceeds of approximately RM10.75 million is earmarked to partially fund 3 additional double-former production lines which will be installed and operated in the above-mentioned building upon its completion in 2018. The total cost for an additional production line is approximately RM8.00 million each. The remaining balance of RM13.25 million for the installation of 3 additional production lines will be financed through bank borrowings and internally-generated funds, the breakdown of which has yet to be finalised at this juncture. The installation of the 3 additional production lines is expected to be completed by end of 2018. Upon the full commissioning of the 3 additional production lines, the Group's production capacity is expected to increase from 3.90 billion to 4.62 billion pieces of gloves.

 

This announcement is dated 25 July 2017.

 






Announcement Info

Company Name CAREPLUS GROUP BERHAD
Stock Name CAREPLS
Date Announced 25 Jul 2017
Category General Announcement for PLC
Reference Number GA1-25072017-00025




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