MULTIPLE PROPOSALS RCE CAPITAL BERHAD (“RCE” OR “COMPANY’) - Proposed Bonus Issue - Proposed Rights Issue - Proposed Exemption - Proposed Increase In Authorised Share Capital - Proposed Amendments I - Proposed Amendments II (The Proposed Bonus Issue, Proposed Rights Issue, Proposed Exemption, Proposed Increase in Authorised Share Capital and Proposed Amendments I are collectively referred to as the “Proposals”)
| RCE CAPITAL BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | RCE CAPITAL BERHAD (“RCE” OR “COMPANY’) - Proposed Bonus Issue - Proposed Rights Issue - Proposed Exemption - Proposed Increase In Authorised Share Capital - Proposed Amendments I - Proposed Amendments II (The Proposed Bonus Issue, Proposed Rights Issue, Proposed Exemption, Proposed Increase in Authorised Share Capital and Proposed Amendments I are collectively referred to as the “Proposals”) |
We refer to the earlier announcements on 14 February 2012 and 26 April 2012 in relation to the Proposals and Proposed Amendments II. All abbreviations used herein shall have the same meanings as those used in the abovementioned announcements unless stated otherwise. On behalf of the Board of Directors of RCE, Hong Leong Investment Bank Berhad is pleased to announce that Bank Negara Malaysia (“BNM”) had, via its letter dated 24 May 2012 (which we received on 25 May 2012), approved the issuance of redeemable convertible non-cumulative preference shares (“RCPS”) to non-resident shareholders of RCE pursuant to the Proposed Rights Issue. The approval granted by BNM for the Proposed Rights Issue is subject to the following conditions: (1) RCE to obtain approvals from and comply with the conditions of the relevant authorities in Malaysia for the issuance of the RCPS; (2) RCE to redeem the RCPS either in foreign currency or Malaysian Ringgit to be paid into the foreign account of non-residents maintained in Malaysia; (3) For each redemption and dividend of more than RM200,000 or the equivalent amount in foreign currency respectively, RCE is to submit information required by licensed local banks (commercial banks, Islamic banks or licensed local investment banks), to enable the said payment to be made on behalf of RCE; (4) RCE to obtain prior approval from the Foreign Exchange Controller in relation to any amendments to the terms of and utilisation of the proceeds from the RCPS issuance; and (5) RCE to inform BNM of the actual subscription level of the RCPS by the non-resident shareholders upon completion of the Proposed Rights Issue. This announcement is dated 25 May 2012. | |
Announcement Info
| Company Name | RCE CAPITAL BERHAD |
| Stock Name | RCECAP |
| Date Announced | 25 May 2012 |
| Category | General Announcement |
| Reference No | ML-120525-53576 |