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NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING VSOLAR GROUP BERHAD ("VSOLAR" OR THE "COMPANY") RIGHTS ISSUE WITH WARRANTS C

VSOLAR GROUP BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description
VSOLAR GROUP BERHAD ("VSOLAR" OR THE "COMPANY")

 RIGHTS ISSUE WITH WARRANTS C

Unless otherwise defined, the definitions used herein shall have the same meaning as those defined in the earlier announcements in relation to the Rights Issue with Warrants C.

 

On behalf of the Board, M&A Securities wishes to announce that the Board intends to fix the issue price of the Rights Shares at RM0.10 per Rights Share (“Issue Price”) and the exercise price of Warrants C at RM0.10 per Warrant C (“Exercise Price”).

 

The Issue Price of the Rights Share and Exercise Price of the Warrants C represent a discount of 6.07% to the theoretical ex-all price (“TEAP”) of Vsolar Shares of RM0.1065, calculated based on the 5D-VWAMP of Vsolar Shares up to and including 26 October 2023 of RM0.1452.

 

However, based on the circular to shareholders dated 6 April 2023 in relation to the Rights Issue with Warrants C,

 

  1. the issue price of the Rights Shares shall be fixed at a range of discount between 25% and 45% to the TEAP of Vsolar Shares (based on the 5D-VWAMP of Vsolar Shares up to and including the last trading day prior to the price-fixing day); and
  2. the exercise price of the Warrants C shall be fixed at a range of discount between 25% and 45% to the TEAP of Vsolar Shares (based on the 5D-VWAMP of Vsolar Shares up to and including the last trading day prior to the price-fixing day).

In view of the above variation, the Company intends to seek the approval of its shareholders at an EGM to be convened.

 

This announcement is dated 27 October 2023.






Announcement Info

Company Name VSOLAR GROUP BERHAD
Stock Name VSOLAR
Date Announced 27 Oct 2023
Category General Announcement for PLC
Reference Number GA1-27102023-00089



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