Kuala Lumpur, 23 July 2021 \u2013 Main Market-listed leading provider of outdoor advertising services, Seni Jaya Corporation Berhad (\u201cSeni Jaya\u201d or the \u201cGroup\u201d) (\u201c\u76db\u827a\u96c6\u56e2\u201d) has today announced the proposed issuance of bonus warrants (\u201cWarrants\u201d) on the basis of one bonus Warrant for every two existing Seni Jaya shares held on the entitlement date to be determined and announced later (\u201cProposed Bonus Issue of Warrants\u201d).<\/p>\n\n\n\n
Chief Executive Officer (\u201cCEO\u201d) of Seni Jaya, Mr Cheah See Heong (\u201cJeff Cheah\u201d) (\u201c\u8c22\u8bd7\u5cf0\u201d) said, \u201cThis exercise serves to express our appreciation to our loyal shareholders who have been with us through the thick and thin, particularly amidst the current COVID-19 pandemic that brought with it unprecedented challenges. Through the Proposed Bonus Issue of Warrants, our shareholders will have the opportunity to increase their equity participation in the Group at a pre-determined price by exercising the Warrants anytime within the five-year tenure. Besides that, they could also benefit from the potential capital appreciation of the Warrants, which will be tradeable on the Main Market of Bursa Securities.\u201d<\/p>\n\n\n\n
\u201cThese are exciting times for Seni Jaya as we are currently undergoing a transformation towards digitalization and market repositioning to boost our industry standing in today\u2019s digital-centric world. The potential proceeds to be raised upon the
exercise of the Warrants will provide additional funds for capital expenditure and future business expansion, hence accelerating our efforts to expand product portfolios to provide comprehensive outdoor media solutions especially on digital and technological segments,\u201d Jeff Cheah concluded.<\/p>\n\n\n\n
The Group could issue up to 24,319,998 Warrants through the corporate exercise under the maximum scenario, which assumes the completion of its recently announced proposed private placement prior to the entitlement date of the Warrants. Meanwhile, the exercise price of the Warrants shall be determined later and will take into consideration the historical share price movement, the 5-Day volume-weighted average market price (\u201c5D-VWAMP\u201d) of Seni Jaya shares, and the prevailing market conditions. <\/p>\n\n\n\n
For illustrative purposes, Seni Jaya may potentially raise gross proceeds amounting up to RM56.0 million (under the maximum scenario) based on an indicative exercise price of RM2.3025 and assuming full exercise of Warrants. The proceeds will be utilised for capital expenditure of its outdoor advertising business and reserved funds for future business expansion. <\/p>\n\n\n\n
The Proposed Bonus Issue of Warrants is subject to regulatory approval, as well as shareholders\u2019 approval at an Extraordinary General Meeting to be convened. Barring any unforeseen circumstances, the exercise is expected to be completed by the third quarter of 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kuala Lumpur, 23 July 2021 \u2013 Main Market-listed leading provider of outdoor advertising services, Seni Jaya Corporation Berhad (\u201cSeni Jaya\u201d or the \u201cGroup\u201d) (\u201c\u76db\u827a\u96c6\u56e2\u201d) has today announced the proposed issuance of bonus warrants (\u201cWarrants\u201d) on the basis of one bonus Warrant for every two existing Seni Jaya shares held on the entitlement date to be […]<\/p>\n","protected":false},"author":1,"featured_media":2637,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[28],"tags":[],"class_list":["post-2635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-28"],"acf":[],"_links":{"self":[{"href":"https:\/\/eightmaison.com\/staging\/senijaya\/wp-json\/wp\/v2\/posts\/2635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eightmaison.com\/staging\/senijaya\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eightmaison.com\/staging\/senijaya\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eightmaison.com\/staging\/senijaya\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eightmaison.com\/staging\/senijaya\/wp-json\/wp\/v2\/comments?post=2635"}],"version-history":[{"count":5,"href":"https:\/\/eightmaison.com\/staging\/senijaya\/wp-json\/wp\/v2\/posts\/2635\/revisions"}],"predecessor-version":[{"id":2734,"href":"https:\/\/eightmaison.com\/staging\/senijaya\/wp-json\/wp\/v2\/posts\/2635\/revisions\/2734"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eightmaison.com\/staging\/senijaya\/wp-json\/wp\/v2\/media\/2637"}],"wp:attachment":[{"href":"https:\/\/eightmaison.com\/staging\/senijaya\/wp-json\/wp\/v2\/media?parent=2635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eightmaison.com\/staging\/senijaya\/wp-json\/wp\/v2\/categories?post=2635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eightmaison.com\/staging\/senijaya\/wp-json\/wp\/v2\/tags?post=2635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}