Proposed Private Placement Sample Clauses
The Proposed Private Placement clause defines the terms and conditions under which a company may offer and sell its securities to a select group of private investors rather than through a public offering. Typically, this clause outlines the process for identifying eligible investors, the types of securities involved, and any regulatory or procedural requirements that must be met. Its core function is to facilitate the efficient and compliant raising of capital from private sources, while ensuring that both the company and investors understand the framework and limitations of the private placement process.
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Proposed Private Placement. On 11 October 2019, the Company announced that it has triggered the condition under Paragraph 8.03A(2)(b) of the Listing Requirements (the listed issuer has an insignificant business or operations) and became an affected listed issuer. The Company is required to submit its regularisation plan to regularise its condition under Paragraph 8.03A(2)(b) of the Listing Requirements) (“Regularisation Plan”) by 10 October 2021 and the Company is in the midst of evaluating options available to formulate the Regularisation Plan. After due consideration of various methods of fund raising available for the purposes as stated in Section 5.6 of this announcement, the Company intends to undertake the Proposed Private Placement prior to the submission of its Regularisation Plan as the Board is of the opinion that the Proposed Private Placement is the most appropriate avenue of fund raising to meet its existing requirements as it:
(a) enables the Company to manage its working capital requirements and ease the cash flow constraints to mitigate the impact of the Coronavirus disease (COVID-19) pandemic on its Existing Business operations during this unprecedented time;
(b) enables the Company to raise funds to fund the Group’s Existing Business without incurring additional financing and interest costs as compared to funding via bank borrowings;
(c) enables the Company to raise funds periodically and expeditiously on an “as needed” basis as the Proposed Private Placement will be implemented in tranches which thus preventing an immediate dilution to the existing shareholders’ shareholdings in the Company; and
(d) strengthens the capital base of the Company and enhances greater participation from a broader range of investors in the Company’s Shares in view of the increase in the number of Anzo Shares as well as improves the Group’s future earnings when the economic and financial benefits from the use of proceeds are realised. Generally, the Group has been financing its operations through internally generated funds with minimum borrowings. The Group intends to keep its gearing level low to ensure that its operations are cost effective and profitable.
Proposed Private Placement. 5.1 Size of placement
(i) Anzo’s existing number of 892,930,960 issued Shares as at the LPD; and
(ii) assuming full exercise of all the 32,991,025 outstanding warrants in Anzo constituted by a deed poll dated 18 July 2013 and expiring on 25 August 2023 (“Warrants B”) into 32,991,025 Anzo Shares at the exercise price of RM0.25 each, prior to the implementation of the Proposed Private Placement, (collectively known as the “Maximum Scenario”). Based on the minimum scenario, the size of the Proposed Private Placement is up to 223,232,700 Placement Shares, representing approximately 25% of the existing total number of 892,930,960 Anzo’s issued Shares as at the LPD, assuming none of the outstanding Warrants B is exercised into new Anzo Share prior to the implementation of the Proposed Private Placement (“Minimum Scenario”). The actual number of Placement Shares to be issued pursuant to the Proposed Private Placement will depend on the enlarged number of issued Shares on a date to be determined later, after the approvals set out in Section 10 of this announcement are obtained.
Proposed Private Placement. Based on the varied terms of the Proposed Acquisition, the Board proposes to revise the maximum issue size of the Proposed Private Placement to ▇▇▇,▇▇▇,▇▇▇ ▇▇▇▇▇▇▇▇▇ Shares, representing not more than 30% of the issued shares in the Company after the issuance of the Consideration Shares, at an issue price to be determined and announced at a later date. Other terms of the Proposed Private Placement remain unchanged.