Monday, 30 April 2012

KNM proposes fund raising exercise involving rights issuance of RM200 million

KUALA LUMPUR (April 30): KNM GROUP BHD [] (KNM) has proposed to undertake a fund raising exercise involving a Rights Issuance of RM200 million.

In a filing to Bursa Malaysia Securities Bhd on Monday, KNM said the definitive terms for the Rights Issue would be determined by the Board of the Company subject to the advice of the Company’s Corporate Advisors to be appointed in due course.

“The Company will be seeking its shareholders' approval for the Proposed Rights Issue at a general meeting to be convened at an appropriate date once the definitive terms of the Proposed Rights Issue has been approved by the Board and the relevant authorities,” it said.

KNM said further announcement(s) on the corporate proposal in respect of the proposed rights issue would be made in due course.

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