MICROLINK TO RAISE RM58.22 MLN VIA PRIVATE PLACEMENT
KUALA LUMPUR, Sept 7 -- Microlink Solutions Bhd is expected to raise gross proceeds of up to RM58.22 million via a proposed private placement of up to 10 per cent of the total number of issued shares in the company.
The proceeds, according to the company’s filing with Bursa Malaysia today, would be used for its working capital and future working capital.
“The board is of the view that the proposed private allows the company to raise funds based on market conditions and the prevailing share price as well as allowing the company to raise funds expeditiously and cost-effectively as compared to other fund-raising exercises,” it said.
The company will be seeking shareholders’ approval in the upcoming annual general meeting to be held on Sept 29.
As of Aug 30 this year, the issued share capital of Microlink is RM108.53 million, comprising 970.36 million ordinary shares in Microlink.
The exercise is expected to be completed in the first quarter of 2022.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
