General Announcement
09/01/2004ENGTEX GROUP BERHAD (ENGTEX OR THE COMPANY) · PROPOSED PRIVATE PLACEMENT OF UP TO 6,000,000 NEW ORDINARY SHARES OF RM1.00 EACH IN ENGTEX REPRESENTING 10% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF ENGTEX (PROPOSED PRIVATE PLACEMENT); · PROPOSED BONUS ISSUE OF UP TO 33,000,000 NEW ORDINARY SHARES OF RM1.00 EACH IN ENGTEX ON A BASIS AND ON AN ENTITLEMENT DATE TO BE DETERMINED LATER (PROPOSED BONUS ISSUE); AND · EMPLOYEES SHARE OPTION SCHEME OF UP TO 10% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF ENGTEX (PROPOSED ESOS) (COLLECTIVELY REFERRED TO AS THE PROPOSALS)
ENGTEX GROUP BERHAD |
Type | Announcement |
Subject | ENGTEX GROUP BERHAD (ENGTEX OR THE COMPANY) · PROPOSED PRIVATE PLACEMENT OF UP TO 6,000,000 NEW ORDINARY SHARES OF RM1.00 EACH IN ENGTEX REPRESENTING 10% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF ENGTEX (PROPOSED PRIVATE PLACEMENT); · PROPOSED BONUS ISSUE OF UP TO 33,000,000 NEW ORDINARY SHARES OF RM1.00 EACH IN ENGTEX ON A BASIS AND ON AN ENTITLEMENT DATE TO BE DETERMINED LATER (PROPOSED BONUS ISSUE); AND · EMPLOYEES SHARE OPTION SCHEME OF UP TO 10% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF ENGTEX (PROPOSED ESOS) (COLLECTIVELY REFERRED TO AS THE PROPOSALS) |
Contents :
We refer to the announcements dated 14 October 2003 and 11 September 2003 respectively. On behalf of the Board of Directors of Engtex, AmMerchant Bank Berhad (AmMerchant Bank) is pleased to announce that the Securities Commission (SC) has, vide its letter dated 7 January 2004, approved the above Proposals.
The approval of the Proposals by the SC is subject to, inter alia, the following conditions:-
(1) AmMerchant Bank/the independent placement agent (where applicable) is required to furnish to the SC a final list of placees for the Proposed Private Placement together with confirmation that the Proposed Private Placement complies with the corresponding guidelines of the SC;
(3) AmMerchant Bank and Engtex are to furnish to the SC, the new equity structure of Engtex after the completion of the Proposed Private Placement;
(4) In regards to the Proposed Bonus Issue, Engtexs external auditors shall furnish written confirmation to the SC that it has sufficient reserves in its share premium account to be capitalised for the purposes of the Proposed Bonus Issue; and
(5) AmMerchant Bank is to inform the SC of the basis of the allotment of the Shares and the number of Shares to be issued pursuant to the Proposed Bonus Issue prior to the implementation of the Proposed Bonus Issue.
The Proposals are now subject to the approval of the shareholders of Engtex at an extraordinary general meeting to be convened on a date to be determined later and the Malaysia Securities Exchange Berhad for the listing of and quotation for the Shares to be issued pursuant to the Proposals.
This announcement is dated 9 January 2004.
Announcement Info
Company Name | ENGTEX GROUP BERHAD |
Stock Name | ENGTEX |
Date Announced | 9 Jan 2004 |
Category | General Announcement |
Reference No | MM-040108-56924 |
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