HARVEST COURT INDUSTRIES
BERHAD ("HCIB" OR THE "COMPANY")
RENOUNCEABLE RIGHTS ISSUE
OF 48,006,847 ORDINARY SHARES OF RM0.25 EACH IN HCIB
("RIGHTS SHARES") TOGETHER WITH 48,006,847 FREE
WARRANTS ON THE BASIS OF THIRTY SIX (36) RIGHTS SHARES
WITH THIRTY SIX (36) FREE WARRANTS FOR EVERY SEVENTEEN
(17) EXISTING ORDINARY SHARES OF RM0.25 EACH IN HCIB HELD
AT AN ISSUE PRICE OF RM0.25 PER RIGHTS SHARE ("RIGHTS
ISSUE WITH WARRANTS")
Contents
:
-
Announcement
Details :
(Unless
stated otherwise, definitions used in this announcement
shall carry the same meaning as defined in the Abridged
Prospectus dated 26
October 2009).
On
behalf of the Board of Directors of HCIB (“Board”),
PM Securities Sdn Bhd is pleased to announce that as at the
close of acceptance and payment of the Rights Issue with
Warrants at 5.00
p.m.
on 13
November 2009,
the total acceptances and excess applications received for
the Rights Issue with Warrants were 56,872,336 Rights Shares
with Warrants. This represents an excess application of
approximately 18.47% over the 48,006,847 Rights Shares with
Warrants available for subscription under the Rights Issue
with Warrants.
The
details of acceptances and the excess applications received
as at the close of acceptance and payment of the Rights
Issue with Warrants at 5.00 p.m. on 13 November 2009 are set
out in the table below:-
Number
of Rights Shares with Warrants
%
Acceptances
37,631,586
78.39
Excess
applications
19,240,750
40.08
Total
acceptances and excess applications
56,872,336
118.47
Total
Rights Shares with Warrants available for subscription
48,006,847
100.00
Oversubscription
8,865,489
18.47
The
Board has determined the basis of allotment of the excess
Rights Shares with Warrants applied for under the excess
Rights Shares with Warrants application on a fair and
equitable basis and in the following priority:-
Firstly,
the incidence of odd lots will be minimised; and
Secondly,
on a pro-rata basis to the Entitled Shareholders who
have applied for excess Rights Shares with Warrants,
based on their respective shareholdings in HCIB on the
Entitlement Date.
Harvest
Court Industries Bhd
(Company No. 36998-T)
Lot 450 , Jalan Papan, Pandamaran
Industrial Area , 42000 Port Klang,
Selangor Darul Ehsan, Malaysia. Tel : 603-3165 2218
Fax : 603-3168
1336 Email: hvest99@yahoo.com
