General Announcement for PLC

12/04/2022

MULTIPLE PROPOSALS SERSOL BERHAD ("SERSOL" OR "COMPANY") I. PROPOSED BONUS ISSUE OF SHARES; AND II. PROPOSED FREE WARRANTS ISSUE (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

SERSOL BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description 
SERSOL BERHAD ("SERSOL" OR "COMPANY") 

I. PROPOSED BONUS ISSUE OF SHARES; AND
II. PROPOSED FREE WARRANTS ISSUE

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

(Unless otherwise stated or redefined, all abbreviations and definitions used herein shall have the same meanings as those used in the Company’s announcement dated 22 March 2022 in relation to the Proposals.)

 

Reference is made to the Company’s announcement dated 22 March 2022 (“Initial Announcement”) wherein TA Securities had on behalf of the Board announced that the Company proposed to undertake the following:

 

(i) proposed bonus issue of up to 457,786,000 new ordinary shares in Sersol (“Sersol Share(s)” or “Share(s)”) (“Bonus Share(s)”) on the basis of 1 Bonus Share for every 1 existing Sersol Share held by the shareholders of Sersol whose names appear in the Record of Depositors of the Company at the close of business on an entitlement date to be determined later (“Bonus Shares Entitled Shareholders”) (“Bonus Shares Entitlement Date”); and

 

(ii) proposed free warrants issue of up to 152,595,333 free warrants (“Warrant(s)” or “Warrant(s) B”) on the basis of 1 Warrant for every 6 existing Shares held by the shareholders of Sersol whose names appear in the Record of Depositors of the Company at the close of business on an entitlement date to be determined later (“Warrants Entitled Shareholders”) (“Warrants Entitlement Date’).

 

(Collectively, referred to as the “Previous Proposals”)

 

On behalf of the Board, TA Securities wishes to announce that the Board has resolved to revise the Previous Proposals to the following:

 

(i) proposed bonus issue of up to 385,277,375 Bonus Shares on the basis of 7 Bonus Shares for every 8 existing Shares held by the Bonus Shares Entitled Shareholders on the Bonus Shares Entitlement Date (“Proposed Bonus Issue of Shares”); and

 

(ii) proposed free warrants issue of up to 165,118,875 Warrants B on the basis of 1 Warrant B for every 5 existing Shares held by the Warrants Entitled Shareholders on the Warrants Entitlement Date (“Proposed Free Warrants Issue”).

 

(Collectively, referred to as the “Proposals”)

 

Please refer to the attachment for further details on the revisions to the Proposals.

 

This announcement is dated 12 April 2022.


Please refer attachment below.

Attachments

Announcement.pdf
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Announcement Info

Company Name SERSOL BERHAD
Stock Name SERSOL
Date Announced 12 Apr 2022
Category General Announcement for PLC
Reference Number GA1-11042022-00128


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