MULTIPLE PROPOSALS SUNMOW HOLDING BERHAD ("SUNMOW" OR THE "COMPANY") (I) PROPOSED RIGHTS ISSUE OF RPS WITH WARRANTS; (II) PROPOSED PLACEMENT OF RPS; AND (III) PROPOSED AMENDMENTS (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
| SUNMOW HOLDING BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | SUNMOW HOLDING BERHAD ("SUNMOW" OR THE "COMPANY")
(I) PROPOSED RIGHTS ISSUE OF RPS WITH WARRANTS;
(II) PROPOSED PLACEMENT OF RPS; AND
(III) PROPOSED AMENDMENTS
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS") |
|
On behalf of the Board of Directors of Sunmow (“Board”), Sierac Corporate Advisers Sdn Bhd (“SCA”) wishes to announce that the Company proposes to undertake the following proposals:
(i) Proposed non-renounceble rights issue of up to 15,596,000 new redeemable preference shares ("RPS") ("Rights RPS") at an issue price of RM0.50 per Rights RPS together with up to 15,596,000 free detachable warrants ("Proposed Rights Issue of RPS with Warrants");
(ii) Proposed placement of 15,000,000 new RPS ("Placement RPS") at an issue price of RM1.00 per Placement RPS to sophisticated investor(s) to be identified later ("Proposed Placement of RPS"); and
(iii) Proposed amendments to the constitution of the Company to facilitate the creation and issuance of the Rights RPS and Placement RPS ("Proposed Amendments").
Further details of the Proposals are contained in the attachment enclosed. |
|
Please refer attachment below.
Announcement Info
| Company Name | SUNMOW HOLDING BERHAD |
| Stock Name | SUNMOW |
| Date Announced | 12 Apr 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-12042024-00034 |