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Industronics Bhd Proposes Private Placement


Wednesday, 24 Jul 2013 08:00pm EDT 

Industronics Bhd announced that the Company proposes to undertake the Proposed Private Placement. The Proposed Private Placement entails the issuance of new ordinary shares of MYR0.50 in IB (IB Shares), representing up to 10% of the issued and paid-up share capital of IB (excluding treasury shares). The maximum number of new IB Shares to be issued pursuant to the Proposed Private Placement (Placement Shares) would depend on the issued and paid-up share capital of the Company at the point of implementation after taking into consideration the following: the issued and paid-up share capital of the Company as at July 24, 2013 (being the latest practicable date prior to the date of this announcement (LPD)) of MYR47,631,500 comprising 95,263,000 IB Shares; the number of treasury shares of 1,131,000 IB Shares as at the LPD; and any new IB Shares (that may be issued prior to the implementation of the Proposed Private Placement) arising from the grant and full exercise of up to 14,119,800 share options pursuant to the proposed establishment of a share issuance scheme (SIS Options) of up to fifteen percent (15%) of the issued and paid-up share capital of the Company (excluding treasury shares) at any point in time for the eligible employees and directors of the Company and its subsidiaries (IB Group or Group) (excluding dormant subsidiaries) (Proposed SIS). 

Company Quote

0.265
-0.0050 -1.85%
29 Aug 2014