WD::Rights::Voluntary

Issuer & Securities

Issuer/ Manager
HIAP SENG ENGINEERING LTD
Security
HIAP SENG ENGINEERING LTD - SG1G69871497 - 510

Announcement Details

Announcement Title
Rights Announcement Withdrawn
Date &Time of Broadcast
21-Oct-2019 09:27:26
Status
Withdraw
Corporate Action Reference
SG190814RHDIVHMV
Submitted By (Co./ Ind. Name)
Tan Hak Jin
Designation
Joint Company Secretary
Event Status
Rejected
Underwritten
No
Shareholders' Approval Required?
Yes
Shareholders' Approval Obtained
No
Financial Year End
31/03/2019
Foreign Shareholder Eligibility
No
Attachment for Intent
HSEL_RI_Announcement.pdf

Dates

Rights Details

Security Not Found?
No
Renounceable
Yes
Rights Security Distribution Ratio- Underlying
1
Rights Security Distribution Ratio- Rights Security
1

Option Exercise

Issue Price (Per Rights)
SGD 0.05
Disbursed Security
ISIN
Name
Security Type
Distribution Ratio- Rights
Distribution Ratio- Disbursed
SG1G69871497HIAP SENG ENGINEERING LTDOrdinary Share12

Renounceable Conditions

Allow Over Subscription
No

Reason(s) for Withdrawal

Reason(s) for Withdrawal
Due to current market conditions and the continuous decline in the market price of the Shares since the Announcement, the current market price of the Shares is below the Issue Price of the Rights Shares. In view of the aforesaid, the Company has decided not to proceed with the Proposed Rights Issue

Attachments

HSEL_RI_Announcement.pdf
Total size =98K

Related Announcements

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14/08/2019 19:14:06