NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING

Reference Number GA1-20022020-00021

Company Name Stock Name Date Announced
WZ SATU BERHAD WZSATU 20 Feb 2020
WZ SATU BERHAD

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING WZ SATU BERHAD (“WZ SATU” OR THE “COMPANY”) (I) PROPOSED RIGHTS ISSUE OF IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES TOGETHER WITH FREE DETACHABLE WARRANTS (II) PROPOSED AMENDMENTS (COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)

WZ SATU BERHAD

 

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) FUND RAISING
Description WZ SATU BERHAD (“WZ SATU” OR THE “COMPANY”)

 

(I)             PROPOSED RIGHTS ISSUE OF IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES TOGETHER WITH FREE DETACHABLE WARRANTS

 

(II)            PROPOSED AMENDMENTS

 

(COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)

Reference is made to the announcements dated 18 November 2019 and 13 January 2020 in relation to the Proposals (“Announcements”). Unless otherwise stated, words and phrases used in this announcement shall have the same meanings as defined in the Announcements.

On behalf of the Board, HLIB wishes to announce that Bursa Securities had, vide its letter dated 19 February 2020, approved the following:

 

(i) admission of up to 643,106,105 ICPS and up to 80,388,263 Warrants B to the Official List of the Main Market of Bursa Securities; and

 

(ii) listing of and quotation for the following on the Main Market of Bursa Securities:

 

(a) up to 643,106,105 ICPS to be issued pursuant to the Proposed Rights Issue of ICPS with Warrants;

 

(b) up to 643,106,105 new WZ Satu Shares to be issued arising from the conversion of the ICPS;

 

(c) up to 80,388,263 Warrants B to be issued pursuant to the Proposed Rights Issue of ICPS with Warrants;

 

(d) up to 80,388,263 new WZ Satu Shares to be issued from the exercise of the Warrants B;

 

(e) up to 51,801,690 additional Warrants A to be issued pursuant to the adjustments in accordance with the Deed Poll A; and

 

(f) up to 51,801,690 new WZ Satu Shares to be issued arising from the exercise of up to 51,801,690 additional Warrants A.

 

 

The approval of Bursa Securities for the Proposed Rights Issue of ICPS with Warrants is subject to the following conditions:

 

(i) The ICPS, Warrants B and additional Warrants A shall be listed and quoted simultaneously;

 

(ii) WZ Satu and HLIB, being the Principal Adviser for the Proposed Rights Issue of ICPS with Warrants, must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Rights Issue of ICPS with Warrants;

 

(iii) WZ Satu and HLIB to inform Bursa Securities upon the completion of the Proposed Rights Issue of ICPS with Warrants;

 

(iv) WZ Satu and HLIB to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Rights Issue of ICPS with Warrants is completed; and

 

(v) WZ Satu to furnish Bursa Securities on a quarterly basis a summary of the total number of ordinary shares listed pursuant to the conversion of ICPS and exercise of the Warrants B respectively, as at the end of each quarter together with a detailed computation of the listing fees payable.