We refer to the announcements dated 19 October 2016, 7 March 2017, 7 April 2017, 5 May 2017, 1 June 2017, 19 June 2017, 3 July 2017, 6 September 2017, 3 October 2017, 25 October 2017, 17 November 2017, and 30 November 2017 in relation to the Proposals (“Announcements”).
Unless otherwise defined, all expressions used in this announcement shall carry the same meaning as defined in the Announcements.
On 19 October 2016, RHB Investment Bank, on behalf of the Board had announced that the Company proposed to undertake, amongst others, a proposed renounceable two-call rights issue of up to 1,694,968,244 new PWI Shares at an issue price of RM0.10 per PWI Share, together with a bonus issue of up to 847,484,122 new PWI Shares to be credited as fully paid-up, on the basis of two (2) Rights Shares for every one (1) existing PWI Shares held and one (1) Bonus Share for every two (2) Rights Shares subscribed for on an Entitlement Date (“Proposed Rights Issue”).
Subsequently, RHB Investment Bank, on behalf of the Board, wishes to announce that with the abolition of the par value under the Companies Act, 2016 (“Act”), the Proposed Rights Issue will be revised to a renounceable one-call rights issue of 2,047,461,262 new PWI Shares together with 1,023,730,631 Bonus Shares, at an issue price of RM0.05 per Rights Share payable in full on application in cash as opposed to the previous two-call rights issue of RM0.10 where a second call of RM0.05 shall be capitalised from the Company’s share premium account and capital redemption reserve. All other terms of the Proposed Rights Issue remain the same (“Proposed Revised Rights Issue”).
Further details of the Proposed Revised Rights Issue are set out in the attached file.
This Announcement is dated 6 March 2018.