General Announcement for PLC

29/05/2015

MULTIPLE PROPOSALS WINTONI GROUP BERHAD ("WINTONI" OR THE "COMPANY") (I) PROPOSED DISPOSALS; (II) PROPOSED RIGHTS ISSUE OF SHARES WITH WARRANTS; AND (III) PROPOSED RIGHTS ISSUE OF ICULS (COLLECTIVELY, THE "PROPOSALS")

WINTONI GROUP BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description 
WINTONI GROUP BERHAD ("WINTONI" OR THE "COMPANY")
 
(I) PROPOSED DISPOSALS;
(II) PROPOSED RIGHTS ISSUE OF SHARES WITH WARRANTS; AND
(III) PROPOSED RIGHTS ISSUE OF ICULS
 
(COLLECTIVELY, THE "PROPOSALS")

For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the Company’s announcement dated 14 July 2014 in relation to, amongst others, the Proposals.
  
We refer to the Company’s announcement dated 14 July 2014 in relation to, amongst others, the Proposals.
  
On behalf of the Board, KAF Investment Bank Berhad wishes to announce that Wintoni had, on 29 May 2015, received a letter from Primose requesting for the termination of the Disposal OTAs on the ground that there is a delay in the implementation and completion of the Proposed Disposals, which significantly affects Primose’s initial decision and objective to acquire the equity interests in Winner and Winco. The Board, having considered the request from Primose, agreed to accede to Primose’s request to terminate the Disposal OTAs and thereafter, neither parties shall have any claim against the other. Simultaneously, the Board has also resolved to abort the Proposed Rights Issues in view that it may not be conducive to implement the Proposed Rights Issues under current weak market sentiments.
  
The termination of the Proposals is not expected to have any material impact on the consolidated EPS and NA per share of Wintoni for the FYE 31 December 2015.
  
This announcement is dated 29 May 2015.



Announcement Info

Company Name WINTONI GROUP BERHAD
Stock Name WINTONI
Date Announced 29 May 2015
Category General Announcement for PLC
Reference Number GA1-29052015-00074


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