Malayan Cement Bhd to repay borrowings with share placement 16 April 2021
Malayan Cement Bhd is expected to raise MYR226.95m (US$55m) mainly to repay bank borrowings via a proposed placement of up to 85m shares, representing 10 per cent of the company s issued shares as of 14 April 2021. The total fund is based on the illustrative issue price of MYR2.67 per placement share, said Malayan Cement.
Malayan Cement said MYR53.93m out of the total proceeds would be used for working capital, MYR170m will be used to repay bank borrowings, and MYR3m to defray estimated expenses relating to the proposed placement.
has concluded its private share placement exercise with the completion of the second tranche on Wednesday where another 100.36 million new shares were issued.
The low-cost carrier announced the tranche representing about 3% of its total issued shares at an issue price of 86.5 sen each.
It said this follows the initial tranche of 11.07% or 369.85 million shares issued on Feb 19 that saw the emergence of Hong Kong-based investor Dr Stanley Choi Chiu Fai as a substantial shareholder after upgrading his share position to 8.96% from less than 5% previously.
“In total, both tranches delivered 470.21 million new shares issued under the private placement exercise, representing 14.07% of AirAsia Group’s total issued shares and raised a total of RM336.46mil, ” it said.
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Piedmont Lithium Announces Strategic Investment in Quebec Hard-Rock Lithium Developer Sayona Mining
Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce that it has entered into agreements (“Agreements”) to establish a strategic partnership with Sayona Mining Limited (“Sayona”) through the purchase of equity stakes in Sayona and its 100% owned Quebec subsidiary, Sayona Quebec Inc (“Sayona Quebec”), as well as a binding supply agreement for at least 50% of Sayona Quebec’s planned spodumene concentrate production.
Piedmont will acquire an initial 9.9% equity interest in Sayona for approximately US$3.1 million (“
Share Placement”) and two unsecured convertible notes (“
Convertible Notes”) for approximately US$3.9 million that upon conversion would result in Piedmont acquiring an additional 10.0% equity interest in Sayona. Piedmont will appoint one director to Sayona’s Board of Directors. Piedmont will also purchase a 25.0% stake