Mycron Steel Berhad | A pioneer in Cold Rolled Coils (CRC) and Steel Pipes



Date Published : 2019-01-24

We refer to the Company’s announcements dated 23 August 2017, 10, 16 October 2017, 18, 22 December 2017, 19 February 2018, 5 March 2018, 5, 20 April 2018, 25 July 2018, 1 August 2018, 6, 7, 10, 12 and 31 December 2018 in relation to the Rights Issue with Warrants ("Announcement(s)").

Unless otherwise stated, the abbreviations and definitions used throughout this announcement shall have the same meaning as those previously defined in the Announcements.

On behalf of the Board, TA Securities wishes to announce that as at the close of acceptance, excess application and payment for the Rights Issue with Warrants at 5.00 p.m. on 16 January 2019 ("Closing Date"), the Company had received valid acceptances and excess applications for a total of 43,512,144 Rights Shares, representing a subscription rate of 76.73% over the total number of Rights Shares available for subscription under the Rights Issue with Warrants.

The details of valid acceptances and excess applications received as at the Closing Date are as follows:

The Board also noted that notwithstanding the under-subscription for the Rights Issue with Warrants, the Company has achieved the minimum subscription level of RM10,800,000 and has raised gross proceeds of RM13,053,643.20.

In view that the Rights Issue with Warrants have not been fully subscribed for, the Board has decided to allot in full, all the Excess Rights Shares with Warrants to all the entitled shareholders and/or their renouncee(s) and/or transferee(s) who have applied for the Excess Rights Shares with Warrants.

The Rights Shares with Warrants are expected to be listed and quoted on the Main Market of Bursa Securities on 31 January 2019

This announcement is dated 24 January 2019.