REPL::Rights::Voluntary
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REPL::Rights::Voluntary Issuer & Securities
Issuer/ ManagerIFS CAPITAL LIMITED
Security IFS CAPITAL LIMITED - SG1A35000706 - I49Announcement Details
Announcement TitleOutcome of Regulatory Review
Date & Time of Broadcast 29-Jul-2016 17:34:23 Status Replacement Corporate Action Reference SG160506RHDIML1I Submitted By (Co./ Ind. Name) Chionh Yi Chian Designation Company Secretary Event Status Pending AIP/ LQN Announcement Underwritten No Shareholders' Approval Required? Yes Shareholders' Approval Obtained No Financial Year End 31/12/2016 Foreign Shareholder Eligibility No Attachment for IntentProposed Renounceable Non-Written Rights Issue.pdf
Regulatory Outcome
Attachment For Regulatory OutcomeSGX_Announcement_29July2016.pdf
Event Narrative
NarrativeType Narrative Text
PROPOSED RENOUNCEABLE NON-UNDERWRITTEN RIGHTS ISSUE WITH AN IRREVOCABLE Additional UNDERTAKING PROVIDED BY A SUBSTANTIAL SHAREHOLDER TO SUBSCRIBE FOR ITS RIGHTS Text ENTITLEMENTS AND ALL OF THE RIGHTS SHARES UNSUBSCRIBED AT THE CLOSE OF THE
RIGHTS ISSUE
Dates
Rights Details
Security Not Found?No
Renounceable Yes Rights Security Distribution Ratio- Underlying 2 Rights Security Distribution Ratio- Rights Security 3Option Exercise
REPL::Rights::Voluntary
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Issue Price (Per Rights) SGD 0.22 Disbursed Security ISIN Name Security Type Distribution Ratio- Rights Distribution Ratio- DisbursedSG1A35000706 IFS CAPITAL LIMITED Ordinary Share 3 2
Renounceable Conditions
Allow Over SubscriptionYes
AttachmentsProposed Renounceable Non-Written Rights Issue.pdf
SGX_Announcement_29July2016.pdf Total size =102K
Related Announcements06/05/2016 20:55:33
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IFS Capital Limited(Incorporated in the Republic of Singapore)
Company Registration No. 198700827C PROPOSED RENOUNCEABLE NON-UNDERWRITTEN RIGHTS ISSUE WITH AN IRREVOCABLE UNDERTAKING PROVIDED BY A SUBSTANTIAL SHAREHOLDER TO SUBSCRIBE FOR ITS RIGHTS ENTITLEMENTS AND ALL OF THE RIGHTS SHARES UNSUBSCRIBED AT THE CLOSE OF THE RIGHTS ISSUE-
INTRODUCTION
The Board of Directors ("Board" or "Directors") of IFS Capital Limited (the "Company") refers to the announcement released by the Company on 6 May 2016 in relation to the Rights Issue ("Announcement"). Unless otherwise defined, all terms and references used herein shall bear the same meanings ascribed to them in the Announcement.
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CLARIFICATION OF THE PARTIES ACTING IN CONCERT WITH THE UNDERTAKING SHAREHOLDER AND MR. LIM HUA MIN
The Board refers to the Announcement and wishes to provide the following clarifications:-
The list of parties ("Other Parties") presumed to be acting in concert with the Undertaking Shareholder and Mr. Lim Hua Min is as follows:-
Name
Relationship
Teo Yew Hock
Executive Director of Phillip Securities Pte Ltd
Chan Poh Yoke
Mother of Mr. Lim Hua Min
Lim Wah Lin
Brother of Mr. Lim Hua Min and Executive Director of the Undertaking Shareholder
Lim Wah Tong
Brother of Mr. Lim Hua Min and Executive Director of the Undertaking Shareholder
Lim Wah Sai
Brother of Mr. Lim Hua Min and Executive Director of Phillip Securities (HK) Limited
Lim May-Tjuen Lynette
Daughter of Mr. Lim Hua Min
Lim Hua Tiong
Brother of Mr. Lim Hua Min
Ling Hua Leong
Brother of Mr. Lim Hua Min
Lim Ai Choo
Sister of Mr. Lim Hua Min
Lim Siew Eng
Sister of Mr. Lim Hua Min
Lim Siew Hong
Sister of Mr. Lim Hua Min
Lee Soon Kie
Former Group Chief Executive Officer and Executive Director of the Company and also previously held directorships of various companies controlled by Mr. Lim Hua Min
As at the date of this announcement, the Other Parties who have an interest in the Shares is as follows:-
Number of Shares
Direct Interest
Deemed Interest
Total(1) (%)
Teo Yew Hock
413,260
-
0.27
Chan Poh Yoke
145,200
-
0.10
Lim Wah Lin
145,200
-
0.10
Lim Wah Tong
145,200
-
0.10
Lim Wah Sai
514,250
-
0.34
Lim May-Tjuen Lynette
14,520
-
0.01
Lee Soon Kie
992,900(2)
-
0.66
Notes:-
Based on 150,387,866 Issued Shares.
Based on the CDP shareholding list as at 30 June 2016.
In aggregate, the Undertaking Shareholder, Mr. Lim Hua Min and the Other Parties (collectively, the "Concert Parties") have a direct and deemed interest in 63,860,487 Shares which represents 42.46% of the voting rights of the Company.
On the assumption that all the Entitled Shareholders subscribe for their respective pro rata entitlements to the Rights Shares and no new Share is issued on or prior to completion of the Rights Issue, upon completion of the Rights Issue, the Concert Parties will have an interest in 159,651,216 Shares, representing approximately 42.46% of the voting rights of the Company.
On the assumption that there is zero subscription application for the Rights Shares, no new Share is issued on or prior to completion of the Rights Issue and the Undertaking Shareholder subscribes for its rights entitlements and an excess application for all the Rights Shares excluding its rights entitlements, amounting to 225,581,799 Rights Shares, upon completion of the Rights Issue, the Concert Parties will have an interest in 289,442,286 Shares, representing approximately 76.99% of the voting rights of the Company.
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RECEIPT OF WHITEWASH WAIVER FROM THE SECURITIES INDUSTRY COUNCIL
The Board wishes to announce that, on 20 May 2016, the Securities Industry Council granted the Whitewash Waiver subject to the following conditions:-
a majority of holders of voting rights of the Company approve at a general meeting, before the Rights Issue, the Proposed Whitewash Resolution by way of a poll to waive their rights to receive a general offer from the Concert Parties;
the Proposed Whitewash Resolution is separate from other resolutions;
the Concert Parties and parties not independent of the Concert Parties abstain from voting on the Proposed Whitewash Resolution;
the Concert Parties did not acquire or are not to acquire any Shares or instruments convertible into and options in respect of Shares (other than subscriptions for, rights to subscribe for, instruments convertible into or options in respect of new Shares which have been disclosed in the circular to Shareholders ("Circular")):-
IFS Capital Limited published this content on 29 July 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 31 July 2016 02:33:02 UTC.
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