NOVA MSC BERHAD
19 Mar 2020
NOVA MSC BERHAD ("NOVAMSC" OR THE "COMPANY") (I) RIGHTS ISSUE; (II) PLACEMENT; AND (III) AMENDMENTS (COLLECTIVELY REFERRED TO AS THE "CORPORATE EXERCISES")
We refer to the Company’s announcements made on 25 November 2019, 3 December 2019, 13 December 2019, 24 December 2019, 26 December 2019, 17 January 2020, 12 February 2020, 13 February 2020 and 25 February 2020 in relation to the Corporate Exercises (“Announcements”). Unless otherwise stated, all defined terms and abbreviations used in this announcement shall carry the same meaning as those previously defined in the Announcements.
On behalf of the Board, Mercury Securities wishes to announce that as at the closing date of the acceptance, excess application and payment for the Rights ICPS at 5.00 p.m. on 12 March 2020, the Company had received valid acceptances and excess applications for a total of 977,552,400 Rights ICPS, representing a subscription rate of 48.78% over the total number of Rights ICPS available for subscription under the Rights Issue.
The details of such valid acceptances and excess applications received are as follows:
|% of total
Rights ICPS available for subscription
|Total valid acceptances||803,779,223||40.11|
|Total valid excess applications||173,773,177||8.67|
|Total valid acceptances and excess applications||977,552,400||48.78|
|Total Rights ICPS available for subscription||2,004,170,664||100.00|
|Not subscribed for||1,026,618,264||51.22|
In view that the Rights Issue had achieved a subscription of 48.78%, the Board has resolved to allot the Rights ICPS to all applicants who have applied for the Rights ICPS and excess Rights ICPS in full.
The Rights ICPS and Placement ICPS are expected to be listed on the ACE Market of Bursa Securities on 26 March 2020.
This announcement is dated 19 March 2020.
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