We refer to the announcements dated 28 January 2011, 24 February 2011, 22 March 2011, 5 April 2011, 28 April 2011, 13 July 2011, 22 July 2011, 26 July 2011, 10 August 2011 and 18 August 2011 in relation to, among others, the Rights Issue of Shares with Warrants. All abbreviations herein shall have the same meanings as those used in the abovementioned announcements unless stated otherwise.
On behalf of TRB, PM Securities wishes to announce that at the closing of acceptance, excess application and payment for the Rights Issue of Shares with Warrants as at 5.00 p.m. on 25 August 2011, TRB received total valid acceptances and excess applications for 94,033,811 Rights Shares together with 56,420,286 Warrants. This represents a subscription rate of approximately 76.10% over the total of 123,563,964 Rights Shares together with 74,138,378 Warrants available for subscription under the Rights Issue of Shares with Warrants. As such, the minimum subscription level of 55,460,150 Rights Shares and 33,276,090 Warrants has been met.
In accordance with the Abridged Prospectus dated 10 August 2011 in relation to the Rights Issue of Shares with Warrants, the basis for the allotment of the excess Rights Shares with Warrants is as follows:
(i)firstly, to minimise the incidence of odd lots; and
(ii)secondly, on a pro-rata basis to TRB Entitled Shareholders and/or their renouncee(s) (if applicable) who have applied for Excess Rights Shares with Warrants, taking into consideration the quantum of their respective excess application.
In view that the Rights Shares with Warrants have not been fully subscribed for, the Board of TRB has decided to allot the Rights Shares with Warrants to all applicants who have applied for the excess Rights Shares with Warrants.
The Rights Shares and Warrants are expected to be listed on the Main Market of Bursa Securities on 13 September 2011.
Details of acceptances and excess Rights Shares with Warrants applications received for the Rights Issue of Shares with Warrants at the closing as at 5.00 p.m. on 25 August 2011 are as follows:
| No. of Rights Shares with Warrants | % of total issue |
Total valid acceptances | 57,850,180 | 46.82 |
Total valid excess applications | 36,183,631 | 29.28 |
Total valid acceptances and excess applications | 94,033,811 | 76.10 |
Total Rights Shares available for subscription | 123,563,964 | 100.00 |
Unsubscribed Rights Shares | 29,530,153 | 23.90 |