Reliance Pacific Berhad ("Rpb" Or "The Company") 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 For Every Four (4) Existing Ordinary Shares Of Rm1.00 Each Held On A Date To Be Determined ("Proposed Bonus Issue"); And Proposed Two-Call Rights Issue Of Up To 62,409,028 New Ordinary Shares Of Rm1.00 Each ("Rights Shares") 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 A Date To Be Determined ("Proposed Two-Call Rights Issue")
BackJul 22, 2004
| General Announcement Reference No MM-040715-8EE4A |
| Submitting Merchant Bank | : | AMMERCHANT BANK BERHAD |
| Company Name | : | RELIANCE PACIFIC BERHAD |
| Stock Name | : | RPB |
| Date Announced | : | 22/07/2004 |
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| Type | : | Announcement |
| Subject | : | RELIANCE PACIFIC BERHAD ("RPB" OR "THE COMPANY") 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 FOR EVERY FOUR (4) EXISTING ORDINARY SHARES OF RM1.00 EACH HELD ON A DATE TO BE DETERMINED ("PROPOSED BONUS ISSUE"); AND PROPOSED TWO-CALL RIGHTS ISSUE OF UP TO 62,409,028 NEW ORDINARY SHARES OF RM1.00 EACH ("RIGHTS SHARES") 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 A DATE TO BE DETERMINED ("PROPOSED TWO-CALL RIGHTS ISSUE") |
Contents :
On behalf of RPB, AmMerchant Bank Berhad ("AmMerchant Bank") wishes to announce that the issue price for the Rights Shares, which was arrived at after taking into consideration the weighted average market price of RPB's ordinary shares of RM1.00 each ("Shares") for the past five (5) market days up to and including 21 July 2004 (being the market day immediately preceding the price fixing date)of approximately RM1.46 per Share, has been fixed at RM1.00 per Rights Share(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).
The first call i.e. the cash portion of RM0.65 per Rights Share represents a discount of approximately RM0.37 or approximately 36.27% from the theoretical ex-all price of approximately RM1.02 per Rights Share as computed based on the weighted average market price of RPB Shares for the five (5) market days up to and including 21 July 2004, being the market day immediately preceding the price fixing date, of approximately RM1.46 per Share.
In addition, the Company also wishes to announce that RPB had on 22 July 2004, executed an underwriting agreement with AmMerchant Bank as the Managing Underwriter and Underwriter, and RHB Securities Sdn Bhd, SBB Securities Sdn Bhd and Southern Investment Bank Berhad as co-underwriters, for the underwriting of the open portion of the Proposed Two-Call Rights Issue comprising up to 36,628,024 Rights Shares. The underwriting commission will be borne by the Company.
The balance of 25,781,004 Rights Shares which have not been underwritten represents the portion undertaken to be subscribed by Reliance Holdings Sdn Bhd and Dato' Mukhriz Mahathir, both being substantial shareholders of the Company, pursuant to their irrevocable written undertakings dated 12 April 2004.
This announcement is dated 22 July 2004.
Bursa Announcement
