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Solution Engineering Holdings Bhd Proposes Private Placement Of Up To 16,860,000 New Ordinary Shares Of MYR0.10 Each In SEHB


Monday, 27 May 2013 08:00pm EDT 

Solution Engineering Holdings Bhd announced that the Company proposes to implement a private placement of up to 16,860,000 new ordinary shares of MYR0.10 each in SEHB, representing approximately 10% of the issued and paid-up share capital of the Company, to independent third party investor to be identified. As at May 22, 2013, SEHB has an issued and paid-up share capital of MYR16,869,600 comprising 168,696,000 SEHB Shares. The Proposed Private Placement will involve the issuance of up to 16,860,000 new SEHB Shares. The 16,860,000 Placement Shares represents approximately 10% of the issued and paid-up share capital of the Company as at May 22, 2013. SEHB shall make an application to Bursa Securities for the listing of and quotation for the Placement Shares to be issued pursuant to the Proposed Private Placement on the ACE Market of Bursa Securities. For illustrative purposes, based on an indicative issue price of RM0.225 per Placement Share (which represents a discount of 9.89% from the five day WAMP of SEHB Shares up to and including 27 May 2013), the Company is expected to raise gross proceeds amounting up to MYR3,793,500 from the Proposed Private Placement 

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