Pri­vate place­ment, rights is­sue planned

The Sun (Malaysia) - - SUNBIZ -

De­siran Sdn Bhd, to al­low it to ex­tract and re­move at the con­trac­tor’s own cost, all com­mer­cial logs and/or mer­chantable tim­ber within the area.

Price­worth is also propos­ing the ac­qui­si­tion of Si­nora by GSR at net as­set value.

Be­sides the pro­posed list­ing ex­er­cise, other fund­ing plans in­clude a pri­vate place­ment of up to 10% of ex­ist­ing is­sued and paid-up cap­i­tal, special is­sue of 141.25 mil­lion shares, re­nounce­able two-call twofor-one rights is­sue of up to 1.69 bil­lion new shares with one bonus share for ev­ery two rights shares sub­scribed.

Price­worth shares shot up 4% or half a sen in the morn­ing ses­sion of trad­ing prior to its sus­pen­sion pend­ing the an­nounce­ment yes­ter­day. It closed 13 sen, with 9.94 mil­lion shares chang­ing hands.

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