SCIB Proposes Private Placement to Raise Up to RM10.98 Million ACN Newswire

SCIB Proposes Private Placement to Raise Up to RM10.98 Million

January 11, 2023
KUCHING, MALAYSIA, Jan 11, 2023 - (ACN Newswire via SEAPRWire.com) - Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) is proposing a private placement to raise gross proceeds of up to approximately RM10.98 million for working capital, repayment of bank borrowings and estimated expenses for the proposed private placement.Group MD and CEO of SCIB, Encik Rosland bin OthmanWhile the issue price and the actual number of shares to be issued will be determined later, under the maximum scenario in which all the Company's 245.18 million outstanding warrants are exercised, the proposed private placement will entail the issuance of up to 82.72 million placement shares at an indicative price of RM0.1327 per placement share to raise gross proceeds of up to approximately RM10.98 million. Under the minimum scenario, should none of the outstanding warrants be exercised, then gross proceeds raised will be RM7.72 million.The proposed issuance represents not more than 10% of the issued shares as at the latest practicable date (LPD) of 30 December 2022 while the indicative price per share represents a discount of approximately 9.97% to the five-day volume weighted average market price of SCIB shares up to the LPD of RM0.1474. The proposed private placement may be implemented in several tranches within six months of approval from Bursa Securities Malaysia Berhad or any extended period approved by it until the conclusion of the next AGM.The proposed private placement is undertaken in accordance with the approval obtained from the shareholders of the Company at the 46th AGM convened on 8 December 2022.Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
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Malaysian Genomics Proposes Private Placement ACN Newswire

Malaysian Genomics Proposes Private Placement

July 8, 2022
PETALING JAYA, Malaysia, Jul 8, 2022 - (ACN Newswire via SEAPRWire.com) - Malaysian Genomics Resource Centre Berhad (Bursa: MGRC, 0155), a leading genomics and biopharmaceutical specialist, announced today that the Group is proposing to undertake a private placement of up to 10% of its total number of issued shares or up to 12.42 million new placement shares at an issue price to be determined for third-party investors that will be identified later.Azri Azerai, Executive Director of Malaysian Genomics Resource Centre BerhadShareholders had approved in the AGM convened on 30 November 2021 for the Group to issue and allot new shares at any time and at such price as the Board of Directors deemed fit provided the number of new shares does not exceed 10% of the total number of issued shares. The new placement shares will rank equally in all respects with existing Malaysian Genomics shares except they will not be entitled to any dividends, rights, allotments and any other forms of distribution should the entitlement date precede the relevant date of allotment and issuance of the new placement shares.Encik Azri Azerai, Executive Director of Malaysian Genomics, said, "We are proposing the private placement to raise funds mainly for the Group's future investments of which we are still exploring options and a part of the proceeds will be allocated for the purchase of equipment including IT hardware, biological safety cabinet and extraction automation for our existing and future businesses.""The reopening of the economy presents opportunities in the private healthcare segment and the fresh funds raised will enable us to be able to take advantage of the possibilities. We diversified into the biopharmaceutical business in 2020 and have since been pushing to open channels for our cell therapies and genetic tests through a series of agreements that gives us a wider market reach. We also bought a 51% stake in a kidney dialysis operator, Aquahealth Sdn Bhd, to offer holistic kidney care."UOB Kay Hian Securities (M) Sdn Bhd is the adviser and placement agent for the proposed private placement.Malaysian Genomics Resource Centre Berhad: 0155 [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK], http://www.mgrc.com.my/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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