| Type | Announcement |
| Subject | OTHERS |
| Description |
EKOVEST BERHAD ("EKOVEST" OR "THE COMPANY") SUBSCRIPTION BY EKOVEST FOR ITS RIGHTS ENTITLEMENT UNDER THE PROPOSED RIGHTS ISSUE BY PLS PLANTATIONS BERHAD |
We refer to the announcement on 25 October 2019 by PLS Plantations Berhad (“PLS”), a 30.44%-owned associated company of Ekovest, in relation to, inter-alia, the proposed renounceable rights issue by PLS of up to 1,052,100,000 new redeemable preference shares in PLS (“RPS”) at an issue price of RM1.00 per RPS on the basis of two (2) RPS for every one (1) ordinary share held in PLS on an entitlement date to be determined and announced by the Board of Directors of PLS at a later date (“Proposed Rights Issue by PLS”).
The Board of Directors of Ekovest wishes to announce that the Company has on 25 October 2019 provided an irrevocable undertaking to PLS to subscribe in full all of its rights entitlement under the Proposed Rights Issue by PLS (“Undertaking”). Pursuant to the Undertaking, Ekovest will subscribe for its rights entitlement of not less than 213,514,600 RPS with an aggregate sum of not less than RM213,514,600.
This announcement is dated 25 October 2019.
| Company Name | EKOVEST BERHAD |
| Stock Name | EKOVEST |
| Date Announced | 25 Oct 2019 |
| Category | General Announcement for PLC |
| Reference Number | GA1-25102019-00046 |