KUALA LUMPUR (March 2): ENVAIR HOLDING BHD [] plans to undertake a private placement of up to 35.56 million new shares or 30% of its paid-up to raise RM9.78 million.
It said on Friday that the shares, at an indicative price of 27.5 sen per share, would be placed out to its major shareholder Deepak Jaikishan, directors Mohd Anuar Mohd Hanadzlah and Mohd Shukri Abdullah and independent third parties.
Of the 35.56 million shares, Envair said 18 million units would be allocated to Deepak, 16.06 million shares to independent investors, one million shares to Anuar and 500,000 units to Shukri.
“The proceeds are to be utilised by Envair and its subsidiaries for working capital in relation to the proposed new business of the group, namely distribution and trading of oil and gas products,” it said.
To recap, on Oct 13 last year, its unit Envair Energy Sdn Bhd had entered into a joint collaboration with Resscom Petroleum Sdn Bhd for distribution and trading of oil and gas products.
It said on Friday that the shares, at an indicative price of 27.5 sen per share, would be placed out to its major shareholder Deepak Jaikishan, directors Mohd Anuar Mohd Hanadzlah and Mohd Shukri Abdullah and independent third parties.
Of the 35.56 million shares, Envair said 18 million units would be allocated to Deepak, 16.06 million shares to independent investors, one million shares to Anuar and 500,000 units to Shukri.
“The proceeds are to be utilised by Envair and its subsidiaries for working capital in relation to the proposed new business of the group, namely distribution and trading of oil and gas products,” it said.
To recap, on Oct 13 last year, its unit Envair Energy Sdn Bhd had entered into a joint collaboration with Resscom Petroleum Sdn Bhd for distribution and trading of oil and gas products.
