We refer to the
announcements dated 30 April 2014, 25 August 2014, 15 October 2014, 20 October
2014, 21 November 2014 and 5 December 2014 in relation to the Rights Issue of RCULS. Unless otherwise stated, words and
phrases used in this announcement shall have the same meanings as defined in
the aforesaid announcements.
On behalf of the Company, HLIB wishes to announce that the Board has today
fixed the Conversion Price of the RCULS at RM1.05. The Conversion Price of RM1.05
was arrived at after taking into consideration the following:
- the prevailing market conditions as at the date of this announcement;
- the 5-day volume-weighted average market price (VWAMP) of the SSB Shares up to and including 4 December 2014, being the day immediately preceding the date of this announcement, of RM1.32 (5-day VWAMP); and
- the par value of the SSB Shares of RM1.00 each.
The Conversion Price of RM1.05 represents a discount of RM0.27 or 20.45%
to the 5-day VWAMP, and a discount of RM0.18 or 14.63% to the theoretical
ex-rights price of RM1.23 (calculated
based on the 5-day VWAMP).
The Conversion Price will provide all existing shareholders with an attractive opportunity to further increase their equity participation in the Company at a discount to the prevailing market price of the SSB Shares.
This announcement is
dated 5 December 2014.