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Rights Announcement Withdrawn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 09:25:19
Status
Withdraw
Corporate Action Reference
SG191018RHDIVMB2
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
Announcement%20on%20Cancellation%20of%20Rights%20Issue.pdf

Event Narrative

Narrative Type
Narrative Text
Additional TextCANCELLATION OF PROPOSED RENOUNCEABLE NON-UNDERWRITTEN RIGHTS ISSUE

Dates

Rights Details

Security Not Found?
No
Renounceable
No
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 Share11

Renounceable Conditions

Note- Any information entered in narrative will not be used in processing
Narrative Type
Narrative Text
Additional TextRENOUNCEABLE NON-UNDERWRITTEN
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

Related Announcements

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18/10/2019 17:34:57