The terms used herein shall, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcement dated 17 October 2014 in relation to the Proposals.
We refer to the announcements dated 17 October 2014, 12 November 2014 and 24 November 2014 in relation to the Proposals.
On behalf of the Board, Affin Hwang IB wishes to announce that the Board had, on even date, resolved the following:
(i) the issue price for the Rights Issue with Warrants has been fixed at RM0.50 per Rights Share at an entitlement basis of 1 Rights Share for every 5 existing KNM Shares held by the Entitled Shareholders as at an entitlement date to be determined and announced later (Entitlement Date);
(ii) the entitlement basis of the Warrants B has been fixed at 1 Warrant B for every 2 Rights Shares subscribed for by the Entitled Shareholders; and
(iii) the exercise price of the Warrants B has been fixed at RM1.00 for each Warrant B.
The issue price of RM0.50 per Rights Share represents a discount of 29.58% to the 5-day volume weighted average market price of KNM Shares up to 16 February 2015 of RM0.71 (5-day VWAMP) and 26.47% to the TERP of KNM Shares of RM0.68, based on the 5-day VWAMP.
The exercise price of the Warrants B of RM1.00 each, represents a 47.06% premium to the TERP of KNM Shares of RM0.68, based on the 5-day VWAMP.
This announcement is dated 17 February 2015.