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On behalf of the Board of Directors of TCB, CIMB Investment Bank Berhad is pleased to announce that the Private Placement is deemed completed following the listing of and quotation for 43,980,000 new TCB shares on the Main Market of Bursa Malaysia Securities Berhad with effect from 9.00 a.m., 23 October 2015.
The above Private Placement raised a total proceed of RM140.736 million as compared to RM84.479 million announced on 19 January 2015 due to higher issuance price.
The proceeds to be utilised has been revised as follows:
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Proposed utilisation of proceeds
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Estimated amount of proceeds raised
as announced on
19 January 2015
(RM 000)
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Actual amount of proceeds raised
(RM 000)
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Future investments / working capital (1)
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Up to 83,479
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138,236
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Estimated expenses (2)
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1,000
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2,500
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Up to 84,479
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140,736
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Notes:
1. The Company proposes to utilise up to approximately RM138.236 million of the proceeds raised from the Private Placement to fund its future investment and/or to meet its additional working capital requirements. In line with its business strategies, the Company will from time to time identify and evaluate investment opportunities, with a view to strengthen and grow its businesses.
The breakdown of proceeds to be allocated for future investments and/or working capital will depend on the funding and operating requirements of the Company and its subsidiaries.
2. The estimated expenses include among others, professional fees, placement fee and fees to relevant authorities. If the actual expenses related to the Private Placement are lower than the estimated amount above, the excess will be allocated to working capital and vice versa.
This announcement is dated 23 October 2015.
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