Announcement Details/Table Section :
We refer to the announcements made on 13 December 2012 and 18 December 2012 in relation to the Proposed Rights Issue ("Announcements"). Unless the context otherwise requires, all expressions used herein shall have the same meanings assigned thereto in the Announcements.
On behalf of the Board, Maybank IB wishes to announce that the Company has procured irrevocable written undertakings from certain substantial shareholders namely, Shorefield Resources Sdn Bhd, Wasco Energy Ltd and Dato' Mohamed Nizam bin Abdul Razak, who collectively hold about 63.46% equity interest in the Company as at 31 December 2012, to subscribe in full for their respective number of Rights Shares entitlements together with additional Rights Shares by way of excess shares application (if required) under the Proposed Rights Issue to arrive at an aggregate amount of proceeds of up to RM102 million, being the Minimum Subscription Level.
In addition, the Board expects to fix the final issue price for the Proposed Rights Issue at a discount of not more than 15% to the TERP of PEB Shares immediately before the price-fixing date to be announced by the Board in due course, so as to encourage the take-up of the Rights Shares by the Entitled Shareholders and/or their renouncee(s) under the Proposed Rights Issue.
Further, Maybank IB also wishes to announce on behalf of the Board that an additional listing application and a draft circular to shareholders of PEB in relation to the Proposed Rights Issue have been submitted to Bursa Securities today for clearance.
This announcement is dated 18 January 2013.
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