NOVA MSC BERHAD
5 Jul 2005
|Subject||NOVA MSC BERHAD
– PROPOSED PRIVATE PLACEMENT
We refer to the announcement dated 27 May 2005 in relation to the Proposed Private Placement. On behalf of the Board of Directors of Nova MSC Berhad (“NMSC” or “Company”), we are pleased to announce that the Securities Commission (“SC”) had vide their letter dated 24 June 2005 (received on 29 June 2005) approved the Proposed Private Placement.
The approval of the SC is subject to the following terms and conditions:-
- Private placement of new NMSC ordinary shares of RM0.10 each up to 10% of NMSC’s issued and paid-up capital (Proposed Private Placement); and
- Listing of and quotation for the new NMSC ordinary shares of RM0.10 each to be issued pursuant to the Proposed Private Placement on the MESDAQ Market of Bursa Malaysia Securities Berhad (Bursa Malaysia).
- OSK Securities/ NMSC to make detailed disclosure in the annoucement to Bursa Malaysia regarding the proposed utilisation of proceeds from the Proposed Private Placement, including details of the proceeds to be utilised for working capital;
- OSK Securities/ NMSC to disclose the status of utilisation of proceeds from the Proposed Private Placement in its quarterly and annual reports until the proceeds are fully utilised;
- OSK Securities/ NMSC to inform the SC upon the completion of the Proposed Private Placement;
- OSK Securities to submit the list of placees upon completion of the Proposed Private Placement exercise; and
- OSK Securities/ NMSC to fully comply with the Policies and Guidelines on Issue/Offer of Securities in implementing the Proposed Private Placement
This announcement is dated 4 July 2005.
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