General Announcement

Reference No MI-140218-62744

Company Name

:

IRE-TEX CORPORATION BERHAD

Stock Name

:

IRETEX

Date Announced

:

18/02/2014

 
MULTIPLE PROPOSALS IRE-TEX CORPORATION BERHAD (“ITCB” OR THE “COMPANY”) • PROPOSED SHARE SPLIT; • PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL; • PROPOSED AMENDMENTS; • PROPOSED PRIVATE PLACEMENT; AND • PROPOSED RIGHTS ISSUE OF ICULS WITH WARRANTS (COLLECTIVELY, THE “PROPOSALS”)

IRE-TEX CORPORATION BERHAD

 

Type

:

Announcement

 

Subject

:

MULTIPLE PROPOSALS

 

Description

  : IRE-TEX CORPORATION BERHAD (“ITCB” OR THE “COMPANY”)

• PROPOSED SHARE SPLIT;
• PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL;
• PROPOSED AMENDMENTS;
• PROPOSED PRIVATE PLACEMENT; AND
• PROPOSED RIGHTS ISSUE OF ICULS WITH WARRANTS

(COLLECTIVELY, THE “PROPOSALS”)

 

Announcement Details/Table Section:

For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in ITCB’s announcement dated 8 January 2014 in relation to the Proposals.

We refer to the Company’s announcement dated 8 January 2014 and its previous announcements in relation to the Proposals.

On behalf of the Board of Directors of ITCB, KAF Investment Bank Berhad (“KAF”) is pleased to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had, vide its letter dated 18 February 2014, resolved to approve the following:-

(i) Proposed Share Split;

(ii) Listing of up to 11,870,000 Placement Shares to be issued pursuant to the Proposed Private Placement;

(iii) Admission to the Official List and the listing and quotation of up to 522,298,000 ICULS and up to 65,287,250 Warrants to be issued pursuant to the Proposed Rights Issue of ICULS with Warrants; and

(iv) The listing of up to 587,585,250 new ITCB Shares to be issued pursuant to the conversion of the ICULS and the exercise of the Warrants.

The approval by Bursa Securities for the Proposed Share Split, Proposed Private Placement and the Proposed Rights Issue of ICULS with Warrants is subject to the following conditions:-

(i) Shareholders’ approval for the Proposed Rights Issue of ICULS with Warrants, Proposed Share Split and Proposed Amendments;

(ii) ITCB and KAF must fully comply with the relevant provisions under the Main Market Listing Requirements pertaining to the implementation of the Proposed Share Split, Proposed Private Placement and Proposed Rights Issue of ICULS with Warrants;

(iii) ITCB and KAF to inform Bursa Securities upon the completion of the Proposed Share Split, Proposed Private Placement and Proposed Rights issue of ICULS with Warrants;

(iv) ITCB to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Share Split, Proposed Private Placement and Proposed Rights Issue of ICULS with Warrants are completed; and

(v) ITCB to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the conversion of the Rights ICULS and/or exercise of the Warrants as at the end of each quarter together with a details computation of listing fees payable.

This announcement is dated 18 February 2014.