(Unless otherwise stated, all abbreviations used in this Announcement shall have the same meaning as those defined in the Company's announcements dated 24 August 2018 and 25 September 2018 and the Company's circular to shareholders in relation to the Corporate Exercises dated 7 November 2018)
We refer to the Company's announcements dated 24 August 2018, 18 September 2018, 24 September 2018, 25 September 2018, 26 September 2018, 16 October 2018, 5 November 2018, 6 November 2018, 29 November 2018, 6 December 2018, 13 December 2018, 14 December 2018 and 17 December 2018 in relation to the Corporate Exercises.
On behalf of the Board, Maybank IB wishes to announce that the Company has today received an irrevocable undertaking from TSS ("Revised TSS Undertaking") which supersedes and replaces the letter of undertaking dated 14 December 2018 ("Original Undertaking") where pursuant to the Revised TSS Undertaking, TSS irrevocably undertakes that he shall:
(i) subscribe in full the Rights Shares with Warrants that he shall be entitled to under the Rights Issue of Shares with Warrants as at the Entitlement Date; and
(ii) apply and subscribe for Excess Rights Shares for a value of not less than RM20.5 million under the Rights Issue of Shares with Warrants,
in accordance with the terms and conditions to be set out in the abridged prospectus to be issued by the Company in connection with the Rights Issue.
For clarity, the financial commitment by TSS under the Revised TSS Undertaking remains the same as his financial commitment under the Original Undertaking. TSS has also confirmed that he has sufficient financial resources to fulfil his commitments pursuant to the Revised TSS Undertaking.
Following the above, the Company has today entered into a supplemental underwriting agreement with the Joint Underwriters in relation to the Rights Issue of Shares with Warrants to reflect the Revised TSS Undertaking.
This announcement is dated 24 December 2018.
Distribution of this Announcement into jurisdictions other than Malaysia may be restricted by law. Persons who come into possession of this Announcement should inform themselves of and observe any such restrictions.
This Announcement is for information purposes only and shall not constitute an offer to sell or solicitation of an offer to buy any securities, nor shall there be any offer or sale of securities in any jurisdiction in which such offer or sale would be unlawful. The securities referred to herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended ("U.S. Securities Act") or the laws of any state or other jurisdiction of the United States ("U.S.") and may not be offered, sold, resold, pledged, transferred or delivered, directly or indirectly, within the U.S., except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. The securities referred to herein are only being offered and sold outside the U.S. in offshore transactions in reliance on Regulation S under the U.S. Securities Act.