MULTIPLE PROPOSALS BINASTRA CORPORATION BERHAD ("BINASTRA" OR "COMPANY") (FORMERLY KNOWN AS COMINTEL CORPORATION BHD) (I) PROPOSED ACQUISITION; (II) PROPOSED RIGHTS ISSUE; (III) PROPOSED PRIVATE PLACEMENT; (IV) PROPOSED ESTABLISHMENT OF A NEW EXECUTIVES SHARE SCHEME; (V) PROPOSED BONUS ISSUE; AND (VI) PROPOSED CHANGE OF NAME (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
| BINASTRA CORPORATION BERHAD |
| Type | Announcement | ||||||||||||||||||
| Subject | MULTIPLE PROPOSALS |
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| Description | BINASTRA CORPORATION BERHAD ("BINASTRA" OR "COMPANY") (FORMERLY KNOWN AS COMINTEL CORPORATION BHD)
(I) PROPOSED ACQUISITION;
(II) PROPOSED RIGHTS ISSUE;
(III) PROPOSED PRIVATE PLACEMENT;
(IV) PROPOSED ESTABLISHMENT OF A NEW EXECUTIVES SHARE SCHEME;
(V) PROPOSED BONUS ISSUE; AND
(VI) PROPOSED CHANGE OF NAME
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS") |
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Reference is made to the announcements dated 6 December 2023, 7 December 2023, 8 December 2023, 30 January 2024, 13 March 2024, 25 March 2024 and 3 April 2024 (“Announcements”), the Company’s circular to shareholders dated 8 February 2024 (“Circular”) and the Company’s abridged prospectus dated 9 April 2024 in relation to the Rights Issue (“Abridged Prospectus”). Unless otherwise defined, the definitions set out in the Announcement shall apply herein.
On behalf of the Board, AmInvestment Bank wishes to announce that as at the close of application for acceptance, excess applications and payment for the Rights Issue at 5.00 p.m. on 29 April 2024, Binastra had received valid acceptances and excess applications for a total of 59,410,286 Rights Shares. This represents a subscription rate of 131.29% of the total number of 45,250,000 Rights Shares available for subscription under the Rights Issue resulting in an over-subscription rate of 31.29%. Details of the valid acceptances and excess application received are as follows:-
The excess Rights Shares have been allocated in accordance with the basis stated in the Abridged Prospectus as follows:-
(i) firstly, to minimise the incidence of odd lots;
(ii) secondly, for allocation to the Entitled Shareholders who have applied for the excess Rights Shares, on a pro rata basis and in board lot, calculated based on their respective shareholdings as per their CDS accounts as at the Entitlement Date;
(iii) thirdly, for allocation to Entitled Shareholders who have applied for excess Rights Shares, on a pro rata basis and in board lot, calculated based on the quantum of their respective Excess Application applied for; and
(iv) fourthly, for allocation to renouncee(s)/transferee(s) (if applicable) who have applied for excess Rights Shares, on a pro rata basis and in board lot, calculated based on the quantum of their respective Excess Application applied for.
The Rights Shares are expected to be listed on the Main Market of Bursa Securities on 14 May 2024.
This announcement is dated 6 May 2024. |
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Announcement Info
| Company Name | BINASTRA CORPORATION BERHAD |
| Stock Name | BNASTRA |
| Date Announced | 06 May 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-06052024-00009 |