Reference is made to the Company’s announcements dated 6 March 2014, 7 March 2014, 10 March 2014 and 14 March 2014 in relation to the Proposed Private Placement (“Earlier Announcements”). Unless otherwise stated, defined terms in this announcement shall carry the same meanings as defined in the Earlier Announcements.
On behalf of the Board of Directors of IRIS (“Board”), AmInvestment Bank Berhad wishes to announce that the Company has fixed the issue price at RM0.51 for to the first (1st) tranche of the Proposed Private Placement. For information purposes, the said issue price represents a discount of approximately 9.12% over the five (5)-day volume weighted average market price of the IRIS Shares up to 21 March 2014 of RM0.5612 (Source:Bloomberg).
The Company has decided to implement the Proposed Private Placement in tranches and the final issue size of the first (1st) tranche will be announced once finalised.
This announcement is dated 24 March 2014.