PETALING JAYA: Evergreen Max Cash Capital Bhd
(EMCC) is proposing to undertake a private placement of up to 10% of its total number of issued shares as well an employees’ share option scheme, involving up to 10% of the total number of issued shares in the company.
As of Oct 23, the company has a total issued share capital of RM150,959,620 comprising 1,114,902,499 shares.
Accordingly, the proposed private placement will entail the issuance of up to 111,490,249 new shares, representing not more than one tenth of the total number of issued shares.
In a filing with Bursa Malaysia yesterday, EMCC noted that the issue price for each tranche of the placement shares, shall be separately determined and fixed by its board and announced at a later date after obtaining the green light from Bursa Malaysia.
An estimated 97.2% of the proceeds, or RM34.68mil, from the placement would be utilised within 12 months for the repayment of revolving credit facilities.
