Reliance Pacific Berhad ("RPB" Or "Company") - Proposed Two-call Rights Issue Of Up To 62,409,028 New Ordinary Shares Of Rm1.00 Each At An Indicative Issue Price Of Rm1.00 Each (Of Which The First Call Of Rm0.65 Is Payable In Cash On Application And The Second Call Of Rm0.35 Is Payable Out Of The Company's Share Premium Account) On The Basis of One (1) New Ordinary Share For Every Two (2) Existing Ordinary Shares Of Rm1.00 Each Held On An Entitlement Date To Be Determined - Proposed Bonus Issue Of Up To 31,204,514 New Ordinary Shares Of Rm1.00 Each On The Basis Of One (1) New Ordinary Share Of Rm1.00 Each For Every Four (4) Existing Ordinary Shares Of Rm1.00 Each Held On An Entitlement Date To Be Determined ("Collectively The Proposals ")
BackMar 13, 2003
| General Announcement Reference No MM-030312-37332 |
| Submitting Merchant Bank | : | AMMERCHANT BANK BERHAD (FORMERLY KNOWN AS ARAB-MALAYSIAN MERCHANT BANK BERHAD) |
| Company Name | : | RELIANCE PACIFIC BERHAD |
| Stock Name | : | RPB |
| Date Announced | : | 13/03/2003 |
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| Type | : | Announcement |
| Subject | : | RELIANCE PACIFIC BERHAD ("RPB" OR "COMPANY") - PROPOSED TWO-CALL RIGHTS ISSUE OF UP TO 62,409,028 NEW ORDINARY SHARES OF RM1.00 EACH AT AN INDICATIVE ISSUE PRICE OF RM1.00 EACH (OF WHICH THE FIRST CALL OF RM0.65 IS PAYABLE IN CASH ON APPLICATION AND THE SECOND CALL OF RM0.35 IS PAYABLE OUT OF THE COMPANY'S SHARE PREMIUM ACCOUNT) ON THE BASIS OF ONE (1) NEW ORDINARY SHARE FOR EVERY TWO (2) EXISTING ORDINARY SHARES OF RM1.00 EACH HELD ON AN ENTITLEMENT DATE TO BE DETERMINED - PROPOSED BONUS ISSUE OF UP TO 31,204,514 NEW ORDINARY SHARES OF RM1.00 EACH ON THE BASIS OF ONE (1) NEW ORDINARY SHARE OF RM1.00 EACH FOR EVERY FOUR (4) EXISTING ORDINARY SHARES OF RM1.00 EACH HELD ON AN ENTITLEMENT DATE TO BE DETERMINED ("COLLECTIVELY THE PROPOSALS ") |
Contents :
1. INTRODUCTION
Further to the announcement dated 7 November 2002, AmMerchant Bank Berhad (formerly known as Arab-Malaysian Merchant Bank Berhad) ("AmMerchant Bank"), on behalf of the Company is pleased to announce that the Securities Commission ("SC"), vide its letter dated 10 March 2003, has approved the following:-
a) the Proposals as proposed without any revision; and
b) the extension of time up to 24 November 2003 for the full implementation of the Proposals.
Save for the approvals to be obtained from the shareholders of RPB at an extraordinary general meeting to be convened as well as the Kuala Lumpur Stock Exchange for the listing of and quotation for all the new ordinary shares of RM1.00 each to be issued pursuant to the Proposals, all other approvals for the Proposals have been obtained.
2. CONDITIONS OF THE SC'S APPROVAL
The proceeds to be raised from the Proposals will be utilised in the manner as detailed in table 1 below.
A circular containing details of the Proposals together with a notice of extraordinary general meeting will be despatched to the shareholders in due course.
This announcement is dated 13 March 2003.
Attachments
- Table_1_(approval_from_SC).doc (Size: 20,992 bytes)
Bursa Announcement
