KUALA LUMPUR (Jan 20): RAMUNIA HOLDINGS BHD [] has been given a new lease of life following Bursa Malaysia Securities Bhd’s approval for its proposed regularisation plan which includes a rights issue.
Ramunia said on Friday the regulator had agreed to the cancellation of 25 sen of the par value of the existing shares of 50 sen each.
It also agreed to the proposed renounceable rights issue of up to 391.44 million shares of 25 sen each at an indicative price of 40 sen per share on the basis of two for five shares held after the change in par value.
Ramunia said Bursa Securities agreed to the business rejuvenation plan which involved business strategies to build up the group’s order book in relation to major offshore fabrication works as well as other oil and gas related business activities.
However, the approval for the regularisation plan hinged on the completion of the proposed acquisition of the Pulau Indah intergrated fabrication yard from Oilfab Sdn Bhd.
Ramunia said on Friday the regulator had agreed to the cancellation of 25 sen of the par value of the existing shares of 50 sen each.
It also agreed to the proposed renounceable rights issue of up to 391.44 million shares of 25 sen each at an indicative price of 40 sen per share on the basis of two for five shares held after the change in par value.
Ramunia said Bursa Securities agreed to the business rejuvenation plan which involved business strategies to build up the group’s order book in relation to major offshore fabrication works as well as other oil and gas related business activities.
However, the approval for the regularisation plan hinged on the completion of the proposed acquisition of the Pulau Indah intergrated fabrication yard from Oilfab Sdn Bhd.
