OTHERS DESTINI BERHAD ('DESTINI' or 'THE COMPANY') - PROPOSED RENEWAL OF SHARE BUY-BACK AUTHORITY FOR THE COMPANY TO PURCHASE ITS OWN SHARES ('PROPOSED RENEWAL OF SHARE BUY-BACK AUTHORITY')
Indication: Notice of Meeting Description: NOTICE OF NINETEENTH ANNUAL GENERAL MEETING ('19th AGM') Date of Meeting: 20/06/2023 Time of Meeting: 10:00 AM Venue: To be conducted on a fully virtual basis throughlive streaming and Remote Participation and Voting ('RPV') Facilitiesfrom the online meeting
On 17 July 2023, UOBKH, had on behalf of the Board announced that the Company proposed to undertake a renounceable rights issue of up to 1,663,531,629 new Destini Shares at the issue price of RM0.04 per Rights Share, on the basis of 1 Rights Share for every 1 existing Destini Share held, together with up to 1,663,531,629 Warrants on the basis of 1 Warrant for every 1 Rights Share subscribed for, on an entitlement date to be determined and announced later ("Previous Proposed Rights Issue with Warrants").
On behalf of the Board, UOBKH wishes to announce that the Board had deliberated on the Previous Proposed Rights Issue with Warrants and after taking into consideration the additional funding requirements, the Company proposes to undertake a revised renounceable rights issue of up to 3,327,063,258 new Destini Shares at the issue price of RM0.04 per Rights Share, on the basis of 2 Rights Shares for every 1 existing Destini Share held, together with up to 1,663,531,629 Warrants on the basis of 1 Warrant for every 2 Rights Shares subscribed for, on an entitlement date to be determined and announced later ("Proposed Rights Issue with Warrants").
Please refer to the attachment for further details of the Proposed Rights Issue with Warrants.
============= On behalf of the Board, UOBKH wishes to announce that the listing application in relation to the Proposed Rights Issue with Warrants has been submitted to Bursa Malaysia Securities Berhad on 19 September 2023.
This announcement is dated 19 September 2023.
=========== Very very massive fund raising by directors via share issuance to rights issue
Current NOSH 1,663,531,629 might increase by 3,327,063,258 shares to close to 5 BILLION shares !!!
Be careful holding high NOSH loss making penny stocks, many have already subjected to share consolidation incurring huge losses to long term holders
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Bmw X5
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Posted by Bmw X5 > 2023-03-15 15:58 | Report Abuse
Destini holding up well