KUALA LUMPUR (Jan 19): GEFUNG HOLDINGS BHD []’s issuance of 109.09 million rights shares with 21.82 million warrants was undersubscribed by 43.62%.
It said on Thursday that at the close of acceptance and payment for the rights shares at 15 sen each with warrants on Jan 12, the total acceptances and excess applications received was about 56.38% of the rights shares with warrants.
“Notwithstanding the above under-subscription, the minimum subscription level amounting to RM14.51 million had been achieved. Therefore, Datuk Lim Kim Huat will not be required to honour his undertaking to subscribe for additional rights shares up to the minimum subscription level,” it said.
Gefung said due to the under-subscription, the board allocated the rights shares with warrants to all applicants who applied for the excess rights shares with warrants. They are expected to be listed on Jan 27.
The corporate exercise involved the renounceable rights issue of up to 193.50 million new shares of 15 sen each together with 38.70 million free detachable warrants on the basis of five rights shares with one warrant for every four shares held as at Dec 27, 2011.
It said on Thursday that at the close of acceptance and payment for the rights shares at 15 sen each with warrants on Jan 12, the total acceptances and excess applications received was about 56.38% of the rights shares with warrants.
“Notwithstanding the above under-subscription, the minimum subscription level amounting to RM14.51 million had been achieved. Therefore, Datuk Lim Kim Huat will not be required to honour his undertaking to subscribe for additional rights shares up to the minimum subscription level,” it said.
Gefung said due to the under-subscription, the board allocated the rights shares with warrants to all applicants who applied for the excess rights shares with warrants. They are expected to be listed on Jan 27.
The corporate exercise involved the renounceable rights issue of up to 193.50 million new shares of 15 sen each together with 38.70 million free detachable warrants on the basis of five rights shares with one warrant for every four shares held as at Dec 27, 2011.
