MIDF Amanah Investment Bank Bhd has resigned as the adviser to SAAG Consolidated Bhd for the corporate proposals including a rights issue.
SAAG said on Tuesday, Aug 2 the investment bank had resigned as the adviser to SAAG for the proposals with immediate effect.
The proposals included a renounceable two call rights issue of up to 5.20 billion new shares of 10 sen each in SAAG on the basis of five rights shares for every two shares held together with up to 1.04 billion free detachable warrants on a one for five rights shares subscribed.
It also proposed to issue nominal value five-year unsecured guaranteed exchangeable bonds which would be exchangeable into new SAAG shares.
SAAG said on Tuesday, Aug 2 the investment bank had resigned as the adviser to SAAG for the proposals with immediate effect.
The proposals included a renounceable two call rights issue of up to 5.20 billion new shares of 10 sen each in SAAG on the basis of five rights shares for every two shares held together with up to 1.04 billion free detachable warrants on a one for five rights shares subscribed.
It also proposed to issue nominal value five-year unsecured guaranteed exchangeable bonds which would be exchangeable into new SAAG shares.
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