On 4 May 2017, on behalf of the Board of Directors of the Company (“Board”), Maybank Investment Bank Berhad (“Maybank IB”) announced that UMW-OG intends to undertake the Proposals.
Further to that announcement, on behalf of the Company, Maybank IB wishes to announce that PNB had on 9 June 2017 issued and UMW-OG had on even date accepted the Undertakings and Subscription Letter (as defined in the attachment herein).
On behalf of the Company, Maybank IB wishes to announce that the new Islamic Redeemable Convertible Preference Shares to be issued in UMW-OG will also be offered to ASB and the Funds to ensure that ASB and the Funds can participate in full in UMW-OG's recapitalisation exercise without being restricted by the Collective Shareholding Threshold (as defined in the attachment herein).
On behalf of the Company, Maybank IB wishes to announce that in view of the above, Mercury Securities Sdn Bhd has been appointed by UMW-OG pursuant to the Rules to act as the independent adviser to the non-interested Directors and non-interested shareholders of UMW-OG on the Proposed Exemption.
On behalf of the Company, Maybank IB wishes to further announce that the application in relation to:
- admission of the 1,513,400,000 new Warrants to the Official List of Bursa Securities pursuant to the Proposed Rights Issue With Warrants and the Proposed Subscription (if applicable);
- listing and quotation for the 1,513,400,000 new Warrants to be issued pursuant to the Proposed Rights Issue With Warrants and the Proposed Subscription (if applicable) on the Main Market of Bursa Securities; and
- listing and quotation for up to 7,567,000,000 new UMW-OG Shares to be issued pursuant to the Proposed Rights Issue With Warrants, conversion of the RCPS-i (if applicable), and exercise of the Warrants on the Main Market of Bursa Securities,
has been submitted to Bursa Securities today.
Kindly refer to the attachment for further details.
This announcement is dated 9 June 2017.