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NewsSumatec’s 2.7b rights shares to trade on Oct 22
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Sumatec’s 2.7b rights shares to trade on Oct 22
by Cals Tue 08 Oct 2013, 01:33
Published: Monday October 7, 2013 MYT 1:01:00 PM
Updated: Monday October 7, 2013 MYT 1:03:21 PM
Sumatec’s 2.7b rights shares to trade on Oct 22
KUALA LUMPUR: Sumatec Resources Bhd’s rights issue of up to 2.72 billion new shares at 17.5 sen each under its regularisation plan to exit Practice Note 17 will start trading on Oct 22. The ex date is Oct 17.
A Bursa Malaysia Securities circular said on Monday the stock short name, number and ISIN code is Sumatec-OR, 1201OR and MYL1201OR005 respectively
The oil and gas company’s corporate exercise would involve the issuance of the rights shares with 680.55 million free detachable warrants.
This would be on the basis of 41 rights shares for every 10 existing shares held of 14 sen together with one warrant for every four rights shares subscribed at 17.5 sen per rights share.
Bursa Securities said the rights shares would cease quotation on Oct 29.
Under the exercise, the company will raising RM453mil to fund its oil and gas production activities at the Rakushechnoye oil field in Kazakhstan.
Updated: Monday October 7, 2013 MYT 1:03:21 PM
Sumatec’s 2.7b rights shares to trade on Oct 22
KUALA LUMPUR: Sumatec Resources Bhd’s rights issue of up to 2.72 billion new shares at 17.5 sen each under its regularisation plan to exit Practice Note 17 will start trading on Oct 22. The ex date is Oct 17.
A Bursa Malaysia Securities circular said on Monday the stock short name, number and ISIN code is Sumatec-OR, 1201OR and MYL1201OR005 respectively
The oil and gas company’s corporate exercise would involve the issuance of the rights shares with 680.55 million free detachable warrants.
This would be on the basis of 41 rights shares for every 10 existing shares held of 14 sen together with one warrant for every four rights shares subscribed at 17.5 sen per rights share.
Bursa Securities said the rights shares would cease quotation on Oct 29.
Under the exercise, the company will raising RM453mil to fund its oil and gas production activities at the Rakushechnoye oil field in Kazakhstan.
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