25 Jul

25/07/2011 – General Announcement

General Announcement
Reference No OI-110722-64383
Submitting Merchant Bank
:
OSK INVESTMENT BANK BERHAD  
Company Name
:
CAREPLUS GROUP BERHAD (ACE Market) 
Stock Name
:
CAREPLS  
Date Announced
:
25/07/2011  
Admission Sponsor
:
OSK Investment Bank Bhd
Sponsor
:
Same as above
Type
:
Announcement
Subject
:
MULTIPLE PROPOSALS
Description
:
CAREPLUS GROUP BERHAD (“CAREPLUS” OR THE “COMPANY”)

BONUS ISSUE OF 105,000,000 WARRANTS IN CAREPLUS (“WARRANTS”) ON THE BASIS OF ONE (1) FREE WARRANT FOR EVERY TWO (2) EXISTING ORDINARY SHARES OF RM0.10 EACH HELD IN CAREPLUS (“CAREPLUS SHARES” OR “SHARES”) (“BONUS ISSUE OF WARRANTS”); AND

PRIVATE PLACEMENT OF UP TO TWENTY PERCENT (20%) OF THE ISSUED AND PAID-UP SHARE CAPITAL OF CAREPLUS (“PRIVATE PLACEMENT”)

(COLLECTIVELY REFFERED HEREINAFTER AS THE “PROPOSALS”)

Announcement Details/Table Section :

All defined terms used in this announcement, unless the context otherwise states, shall bear the same meaning as those defined in the announcement dated 28 April 2011 in relation to the Proposals.

We refer to the announcements dated 28 April 2011, 4 May 2011, 5 May 2011, 16 May 2011, 19 May 2011, 30 June 2011 and 25 July 2011 in relation to the Proposals.

On behalf of the Board, we are pleased to announce that the Board had on even date, resolved to fix the exercise price for the Warrants to be issued pursuant to the Bonus Issue of Warrants at RM0.49 per Careplus Share, which represents a premium of approximately RM0.01 or 1.20% over the five (5)-day VWAP of Careplus Shares up to and including 22 July 2011 of RM0.4842.

Based on the exercise price of the Warrants of RM0.49 per new Careplus Share, the Company stands to potentially raise up to RM51.45 million during the tenure of the Warrants upon full exercise of the Warrants by the holders of the Warrants. Such proceeds will be utilised for the day-to-day working capital requirements of the Careplus Group.

This announcement is dated 25 July 2011.