NEW ISSUE OF SECURITIES9 Dec 2016 10:11
Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description
HIBISCUS PETROLEUM BERHAD ("HIBISCUS PETROLEUM" OR THE "COMPANY")
PROPOSED PRIVATE PLACEMENT OF UP TO 82,305,362 ORDINARY SHARES OF RM0.01 EACH IN HIBISCUS PETROLEUM REPRESENTING APPROXIMATELY 6.05% OF THE EXISTING ISSUED AND PAID-UP SHARE CAPITAL OF HIBISCUS PETROLEUM ("PROPOSED PRIVATE PLACEMENT")
We refer to the announcements dated 9 August 2016, 12 August 2016, 6 September 2016, 13 September 2016 and 20 September 2016 in relation to the Proposed Private Placement ("Announcements").
All abbreviations and definitions used herein shall have the same meaning as the words and expressions defined in the Announcements, except where the context otherwise requires or where otherwise defined herein.
On behalf of Hibiscus Petroleum, Kenanga IB is pleased to announce that the Company has on 9 December 2016 fixed the issue price of the final tranche Placement Shares ("Final Tranche Placement Shares") at RM0.2900 per Placement Share.
The issue price of the Final Tranche Placement Shares of RM0.2900 represents a discount of approximately 4.8% from the five (5)-day VWAMP of Hibiscus Petroleum Shares up to and including 8 December 2016, being the market day immediately prior to the price fixing date, of RM0.3047 per Hibiscus Petroleum Share.