(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the earlier announcements, where applicable, unless stated otherwise or defined herein.)
Reference is made to the Companys announcements dated 26 February 2014, 27 March 2014, 26 May 2014, 14 August 2014, 15 August 2014, 20 August 2014 and 28 August 2014 in relation to the Proposals.
On behalf of the Board of Directors of STB (Board), Public Investment Bank Berhad wishes to announce that as at the close of acceptance and payment for the Rights Issue with Warrants at 5.00 p.m. on 17 September 2014 (Closing Date), the total valid acceptances and excess applications received under the Rights Issue with Warrants were 732,740,867 Rights Shares. This represents an over-subscription of 210,783,364 Rights Shares or approximately 40.38% over the total of 521,957,503 Rights Shares available for subscription under the Rights Issue with Warrants.
The details of the total valid acceptances and excess applications received as at the Closing Date for the Rights Issue with Warrants are set out in Table 1.
The Warrants C will be issued at no cost to the Entitled Shareholders and/or their renouncees/transferees who have successfully subscribed for the Rights Shares pursuant to the Rights Issue with Warrants on the basis of two (2) Warrants C for every three (3) Rights Shares successfully subscribed. Any fractional entitlement under the Rights Issue with Warrants shall be disregarded and will be dealt with by the Board as it may deem fit and expedient in the best interest of the Company.
The Board has applied the basis in allocating the excess Rights Shares with Warrants C as set out in the Abridged Prospectus dated 29 August 2014, as follows:
(i) firstly, to minimise the incidence of odd lots;
(ii) secondly, after the occurrence of (i) above, for allocation to the Entitled Shareholders who have applied for the excess Rights Shares with Warrants C on a pro-rata basis and in board lot, calculated based on their respective shareholdings as at the Entitlement Date;
(iii) thirdly, after the occurrence of (i) and (ii) above, for allocation to the Entitled Shareholders who have applied for the excess Rights Shares with Warrants C on a pro-rata basis and in board lot, calculated based on the quantum of their respective excess Rights Shares with Warrants C application; and
(iv) lastly, after the occurrence of (i), (ii) and (iii) above, for allocation to renouncee(s)/transferee(s) who have applied for the excess Rights Shares with Warrants C on a pro-rata basis and in board lot, based on the quantum of their respective excess Rights Shares with Warrants C application.
The Rights Shares and the Warrants C are expected to be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad on 1 October 2014.
This announcement is dated 23 September 2014.