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New Issue Of Securities (Chapter 6 Of Listing Requirements): Combination Of New Issue Of Securities

BackMay 02, 2012
Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
COMBINATION OF NEW ISSUE OF SECURITIES
Description MBM RESOURCES BERHAD (“MBMR” OR THE “COMPANY”)

(I) BONUS ISSUE; AND
(II) RIGHTS ISSUE WITH WARRANTS

(COLLECTIVELY KNOWN AS THE “CORPORATE EXERCISES”)
1. INTRODUCTION
    • We refer to the announcements dated 24 February 2012, 27 February 2012, 29 February 2012, 9 March 2012, 23 March 2012, 5 April 2012, 12 April 2012 and 2 May 2012 respectively in respect of the Corporate Exercises (collectively referred to as the “Earlier Announcements”). Unless stated otherwise, capitalised terms used in this announcement shall carry the same meaning as defined in the Earlier Announcements.

      On behalf of the Board, AmInvestment Bank wishes to announce the following:
  •  
    • the issue price of the Rights Shares has been fixed at RM1.42 per Rights Share; and
    • the exercise price of the Warrants has been fixed at RM3.20 per Warrant.
    • Shareholders whose names appear in the Record of Depositors of our Company at 5.00 p.m. on 23 May 2012 (“Entitlement Date”) are entitled to the Bonus Shares and to participate in the Rights Issue with Warrants based on the number of Shares held as at the Entitlement Date. For the avoidance of doubt, the Bonus Shares to be issued pursuant to the Bonus Issue will not be taken into account in determining the entitlement of the shareholders of MBMR to the Rights Shares with Warrants.

      On behalf of the Board, AmInvestment Bank also wishes to announce that the Company has today executed the deed poll constituting the Warrants.

      2. ISSUE PRICE OF THE RIGHTS SHARES

      The issue price of the Rights Shares is fixed at RM1.42 per Rights Share, which represents a discount of approximately 57.36% to the TEAP of the Shares of RM3.33 calculated based on the five (5)-day VWAP of MBMR Shares, both up to and including 30 April 2012, being the last trading day prior to the date of this announcement, of RM4.95.

      3. EXERCISE PRICE OF THE WARRANTS

      The exercise price of the Warrants is fixed at RM3.20 per Warrant, which represents a discount of 3.90% to the TEAP of the Shares of RM3.33 calculated based on the five (5)-day VWAP of MBMR Shares, both up to and including 30 April 2012, being the last trading day prior to the date of this announcement, of RM4.95.

      4. MAJOR SHAREHOLDER’S UNDERTAKING

      Med-Bumikar, being a major shareholder of MBMR, had vide its letter dated 10 April 2012 provided an irrevocable undertaking to subscribe in full to its entitlement of the Rights Shares and Warrants.
      Pursuant to the Undertaking, Med-Bumikar will subscribe a total of 38,849,340 Shares together with 38,849,340 free Warrants, representing 100% of the total Rights Shares to be issued pursuant to the Rights Issue with Warrants based on the Minimum Scenario or approximately 52.75% of the total Rights Shares to be issued pursuant to the Rights Issue with Warrants based on the Maximum Scenario.


      This announcement is dated 2 May 2012.

Announcement Info

Company Name MBM RESOURCES BHD  
Stock Name MBMR    
Date Announced 2 May 2012  
Category General Announcement
Reference No MB-120502-59891

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