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11 Sep 2015 12:45
11 September 2015
Resource Holding Management Limited
("RHM" or the "Company")
Update Regarding PUCF Rights Issue
Further to the Company's announcement made on 10 August 2015, the Board of RHM (AIM:RHM) notes the announcement made today by PUC Founder (MSC) Berhad ("PUCF"). RHM's wholly owned subsidiary, RedHot Media International Limited ("RMIL"), currently holds 443,168,402 ordinary shares in PUCF, which represents 41.58% of PUCF's issued share capital and 36,215,840 warrants to subscribe for new PUCF shares.
Today's announcement by PUCF states that PUCF has submitted an application to Bursa Securities to seek an extension of time of up to 2 January 2016 for the submission of the relevant documents, being the listing application and the draft circular, to Bursa Malaysia Securities Berhad ("Bursa Securities") in relation to PUCF's proposed rights issue of three year, 4% irredeemable convertible unsecured loan stock (the "PUCF Rights Issue") and the proposed diversification of PUCF's business (together the "Proposals"). At the current time, and prior to any extension being granted by Bursa Securities, PUCF has no later than two (2) months from 4 August 2015 to submit the documents to Bursa Securities pursuant to Rule 9.32 (1) (a) of the ACE Market listing requirements of Bursa Securities. Fuller details of the Proposals can be found in RHM's announcement of 10 August 2015.
A copy of the announcement made today by PUCF can be found here:
http://www.bursamalaysia.com/market/listed-companies/company-announcements/4865689
As detailed in RHM's announcement of 10 August 2015, the Company's participation in the PUCF Rights Issue is, amongst other things, conditional upon and subject to the approval of the Company's shareholders, which will be sought at a general meeting of the Company, and on the publication of an AIM admission document (the "Admission Document"). RHM's shares are currently suspended from trading on AIM, pending the publication of the Admission Document and a notice of general meeting seeking shareholder approval, or the release of an announcement regarding the PUCF Rights Issue not proceeding.
RHM will make further announcements as appropriate.
For further information please contact:
Resource Holding Management Limited | |
Cheong Chia Chieh | Tel: +852 8192 6166
|
Allenby Capital Limited (Nominated Adviser and Broker) | Tel: +44 (0)203 328 5656 |
Nick Athanas / Alex Brearley |
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