Bursa Announcements

Date : 24 September 2019

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING ATRIUM REAL ESTATE INVESTMENT TRUST ("ATRIUM REIT") RENOUNCEABLE RIGHTS ISSUE OF 58,464,480 NEW UNITS IN ATRIUM REIT ("RIGHTS UNIT(S)") ON THE BASIS OF 2 RIGHTS UNITS FOR EVERY 5 EXISTING ATRIUM REIT UNITS HELD AS AT 5.00 P.M. ON 30 AUGUST 2019 AT AN ISSUE PRICE OF RM1.02 PER RIGHTS UNIT ("RIGHTS ISSUE")

ATRIUM REAL ESTATE INVESTMENT TRUST

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description
ATRIUM REAL ESTATE INVESTMENT TRUST ("ATRIUM REIT")

RENOUNCEABLE RIGHTS ISSUE OF 58,464,480 NEW UNITS IN ATRIUM REIT ("RIGHTS UNIT(S)") ON THE BASIS OF 2 RIGHTS UNITS FOR EVERY 5 EXISTING ATRIUM REIT UNITS HELD AS AT 5.00 P.M. ON 30 AUGUST 2019 AT AN ISSUE PRICE OF RM1.02 PER RIGHTS UNIT ("RIGHTS ISSUE")

We refer to the abridged prospectus dated 30 August 2019 (Abridged Prospectus) and the previous announcements in relation to the Rights Issue. The terms used herein shall, unless the context otherwise stated, bear the same meaning as those defined in the Abridged Prospectus, where applicable.

 

On behalf of the Board of the Manager, UOBKH wishes to announce that as at the close of acceptance, excess application and payment for the Rights Issue at 5.00 p.m. on Thursday, 19 September 2019, the total acceptances and excess applications for the Rights Issue were 60,603,498 Units, which represents an over-subscription of 3.66% over the total number of Units available for subscription under the Rights Issue. Based on the total acceptances and excess applications, the proceeds raised from the Rights Issue amounts to approximately RM59.63 million.

 

The details of the subscription are set out below:-

 

 

No. of Units

(%)

Acceptances

50,429,521

86.26

Excess applications

10,173,977

17.40

Total acceptances and excess applications

60,603,498

103.66

Total Units available for subscription

58,464,480

100.00

Over-subscription

2,139,018

3.66

 

The Board has applied the following basis in allocating the Excess Rights Units in accordance with the Abridged Prospectus:-

  1. Firstly, to minimise the incidence of odd lots;
  2. Secondly, for allocation to Entitled Unitholders who have applied for Excess Rights Units, on a pro-rata basis and in board lots, calculated based on their respective unitholdings in Atrium REIT as at the Entitlement Date;
  3. Thirdly, for allocation to Entitled Unitholders who have applied for Excess Rights Units, on a pro-rata basis and in board lots, calculated based on the quantum of their respective Excess Application; and
  4. Fourthly, for allocation to renouncee(s) or transferee(s) who have applied for Excess Rights Units, on a pro-rata basis and in board lots, calculated based on the quantum of their respective Excess Application.

In the event of any remaining Excess Rights Units after steps (1) to (4) have been carried out, steps (2) to (4) will be repeated until all remaining Excess Rights Units have been allocated.

 

Nevertheless, the Board reserves the right to allot any Excess Rights Units applied for in such manner as the Board deems fit and expedient in the best interest of Atrium REIT subject always to such allocation being made on a fair and equitable basis, and that the intention of the Board as set out in steps (1) to (4) above are achieved.

 

The Rights Units are expected to be listed and quoted on the Main Market of Bursa Securities on 30 September 2019.

 

 

This announcement is dated 24 September 2019.






Announcement Info

Company Name ATRIUM REAL ESTATE INVESTMENT TRUST
Stock Name ATRIUM
Date Announced 24 Sep 2019
Category General Announcement for PLC
Reference Number GA1-24092019-00026


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