General Announcement for PLC

12/11/2018

MULTIPLE PROPOSALS ADVENTA BERHAD ("ADVENTA") I. PROPOSED RIGHTS ISSUE OF IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES TO RAISE PROCEEDS OF APPROXIMATELY RM50 MILLION; II. PROPOSED EXEMPTION; AND III. PROPOSED AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF ADVENTA

ADVENTA BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description 
ADVENTA BERHAD ("ADVENTA") 
I. PROPOSED RIGHTS ISSUE OF IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES TO RAISE PROCEEDS OF APPROXIMATELY RM50 MILLION; 
II. PROPOSED EXEMPTION; AND 
III. PROPOSED AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF ADVENTA

Reference is made to the Company’s announcements on 17 January 2018, 26 February 2018, 8 June 2018, 9 July 2018 and 16 July 2018 in relation to the earlier Proposed Rights Issue and the announcements on 24 August 2018, 27 August 2018 and 24 October 2018 in relation to the revised Proposals ("Earlier Announcements”). Unless otherwise stated, defined terms in this announcement shall carry the same meanings as defined in the Earlier Announcements.

 

On behalf of Adventa, AmInvestment Bank is pleased to announce that Bursa Securities had, vide its letter dated 9 November 2018, approved the following: -

  1. Admission to the Official List and the listing and quotation of up to 128,340,047 irredeemable convertible preference shares ("ICPS") to be issued pursuant to the Proposed Rights Issue of ICPS with Warrants;
  2. Admission to the Official List and the listing and quotation of up to 64,170,023 Warrants to be issued pursuant to the Proposed Rights Issue of ICPS with Warrants;
  3. Listing and quotation for up to 128,340,047 new ordinary shares to be issued arising from the conversion of the ICPS; and
  4. Listing and quotation of up to 64,170,023 new ordinary shares to be issued arising from the exercise of the Warrants. 

 

The approvals granted by Bursa Securities are subject, among others, to the following conditions: -

  1. Adventa and Amlnvestment Bank, the adviser for the Proposed Rights Issue of ICPS with Warrants, must fully comply with the relevant provisions under the Main Market Listing Requirements ("LR") pertaining to the implementation of the Proposed Rights Issue of ICPS with Warrants;
  2. Adventa and Amlnvestment to inform Bursa Securities upon the completion of the Proposed Rights Issue of ICPS with Warrants;
  3. Adventa and Amlnvestment to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposed Rights Issue of ICPS with Warrants is completed; and
  4. Adventa to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the conversion of the ICPS and exercise of the new Warrants as at the end of each quarter together with a detail computation of listing fees payable.

 

This announcement is dated 12 November 2018.



Announcement Info

Company Name ADVENTA BERHAD
Stock Name ADVENTA
Date Announced 12 Nov 2018
Category General Announcement for PLC
Reference Number GA1-12112018-00034


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