DIALOG (7277) - Dialog’s Ngau, related parties places out 85.6 mil shares to institutional investors
KUALA LUMPUR (Feb 12): Dialog Group Bhd ’s executive chairman Tan Sri Ngau Boon Keat and parties connected to him, have placed out a total of 85.6 million shares or a 1.7% stake in the company, to certain institutional investors.
“Following the placement of the placement shares, Ngau and parties connected to him are committed to convert their warrants into ordinary shares in Dialog, within the next few weeks,” said Dialog in a filing to Bursa Malaysia today.
Ngau and the parties intend to mainly utilise the net proceeds from the placement to exercise their current holdings of up to 108.33 million warrants into ordinary shares of Dialog, it added.
Upon conversion, the ordinary shares represents approximately 2.1% of the enlarged total paid-up share capital of Dialog, while the total interest of Ngau and parties connected to him, will be 1.18 billion shares or approximately 23.3% of the enlarged total paid-up share capital of the group.
The net effect of the placement and conversion of warrants by Ngau and parties connected to him, will be the increase in the working capital of Dialog.
The proceeds from the warrants conversion can be utilised to finance Dialog’s investment commitments in the recently-announced Pengerang Terminal Phase 2 Project and Pengerang LNG Project, as well as maintain a healthy net gearing ratio for the group, which stood at 0.19 times as at Dec 31, 2014, Dialog said.
Dialog (fundamental score: 2.1; valuation score: 0.7) dropped 1 sen to close at RM1.58 today, giving it a market capitalisation of RM7.83 billion.
http://www.theedgemarkets.com
KUALA LUMPUR (Feb 12): Dialog Group Bhd ’s executive chairman Tan Sri Ngau Boon Keat and parties connected to him, have placed out a total of 85.6 million shares or a 1.7% stake in the company, to certain institutional investors.
“Following the placement of the placement shares, Ngau and parties connected to him are committed to convert their warrants into ordinary shares in Dialog, within the next few weeks,” said Dialog in a filing to Bursa Malaysia today.
Ngau and the parties intend to mainly utilise the net proceeds from the placement to exercise their current holdings of up to 108.33 million warrants into ordinary shares of Dialog, it added.
Upon conversion, the ordinary shares represents approximately 2.1% of the enlarged total paid-up share capital of Dialog, while the total interest of Ngau and parties connected to him, will be 1.18 billion shares or approximately 23.3% of the enlarged total paid-up share capital of the group.
The net effect of the placement and conversion of warrants by Ngau and parties connected to him, will be the increase in the working capital of Dialog.
The proceeds from the warrants conversion can be utilised to finance Dialog’s investment commitments in the recently-announced Pengerang Terminal Phase 2 Project and Pengerang LNG Project, as well as maintain a healthy net gearing ratio for the group, which stood at 0.19 times as at Dec 31, 2014, Dialog said.
Dialog (fundamental score: 2.1; valuation score: 0.7) dropped 1 sen to close at RM1.58 today, giving it a market capitalisation of RM7.83 billion.
http://www.theedgemarkets.com
