{"id":3364,"date":"2021-07-07T03:25:00","date_gmt":"2021-07-06T19:25:00","guid":{"rendered":"https:\/\/eightmaison.com\/staging\/senijaya\/?p=3364"},"modified":"2025-10-07T04:17:54","modified_gmt":"2025-10-06T20:17:54","slug":"seni-jaya-to-accelerate-digital-centric-expansion-plans-via-proposed-private-placement","status":"publish","type":"post","link":"https:\/\/eightmaison.com\/staging\/senijaya\/seni-jaya-to-accelerate-digital-centric-expansion-plans-via-proposed-private-placement\/","title":{"rendered":"Seni Jaya to Accelerate Digital-Centric Expansion Plans via Proposed Private Placement"},"content":{"rendered":"\n<ul class=\"wp-block-list\">\n<li>Proposed private placement to fund potential investments in digital and technological advertising; as well as for capex to set up or upgrade structures to support digital media;\u00a0<\/li>\n\n\n\n<li>To issue up to 8.1 million Placement Shares (equivalent to 20% of the total number of issued shares);\u00a0<\/li>\n\n\n\n<li>To raise potential gross proceeds of up to RM18.1 million.\u00a0<\/li>\n<\/ul>\n\n\n\n<p><strong>Kuala Lumpur, 7 July 2021 <\/strong>\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) today announced a proposed private placement exercise involving the issuance of up to 8.1 million new ordinary shares (\u201cPlacement Shares\u201d), which represents up to 20% of the Group\u2019s total number of issued shares (\u201cProposed Private Placement\u201d).\u00a0<\/p>\n\n\n\n<p>The up to 8.1 million Placement Shares shall be placed out to third-party investors at an issue price to be determined and announced later. At an indicative price of RM2.234 per Placement Share, and assuming full subscription\u00a0of the Placement Shares, Seni Jaya is expected to raise gross proceeds of approximately RM18.1 million from the corporate exercise.\u00a0<\/p>\n\n\n\n<p>The indicative gross proceeds of RM18.1 million will be utilised for investment opportunities, capital expenditure, and working capital needs.&nbsp;<\/p>\n\n\n\n<p><strong>Chief Executive Officer (\u201cCEO\u201d) of Seni Jaya, Mr Cheah See Heong (\u201cJeff Cheah\u201d) (\u201c<\/strong>\u8c22\u8bd7\u5cf0<strong>\u201d) <\/strong>said, \u201cThe process of transforming Seni Jaya into a digital and technological advertising outfit has been in motion since the beginning of the year and significant progress has been made. The recent addition of Malaysia\u2019s first programmatic digital out-of-home advertisement into our portfolio in June this year is just a starting point with greater things to come.\u201d&nbsp;<\/p>\n\n\n\n<p>\u201cLooking ahead, we still have a series of expansion plans to execute. With the proceeds from the Proposed Private Placement, the pace of our transformation plan will be markedly accelerated. While the industry as a whole is still in the midst of recovering from the Covid-19 pandemic, we believe the time is right for us to engage in potential investment and acquisition activities due to the attractive valuation in the market. Furthermore, we also see the need to set up new structures to support digital media, in addition to upgrading and digitalizing our existing advertising structures to cater for the growing demand for outdoor digital media among advertisers.\u201d&nbsp;<\/p>\n\n\n\n<p>\u201cThe media industry is currently at the crossroads with customer behaviours and tastes changing ever so rapidly. The industry is headed towards a digital-centric path. Hence, the initiatives we are taking are not only opportunistic but\u00a0<br>necessary in the long run. We are certain that this corporate exercise will ultimately benefit and add value to our shareholders,\u201d Jeff Cheah concluded.\u00a0<\/p>\n\n\n\n<p>The Placement Shares will be issued at a price of not more than 10% discount to the five-day volume-weighted average market price (\u201cVWAP\u201d) of Seni Jaya shares immediately preceding the price-fixing date, which would be determined later.&nbsp;<\/p>\n\n\n\n<p>Barring any unforeseen circumstances and subject to all required approvals being obtained, the Proposed Private Placement is expected to be completed by the third quarter of 2021.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kuala Lumpur, 7 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) today announced a proposed private placement exercise involving the issuance of up to 8.1 million new ordinary shares (\u201cPlacement Shares\u201d), which represents up to 20% of the Group\u2019s total number of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3380,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[28],"tags":[],"class_list":["post-3364","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\/3364","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=3364"}],"version-history":[{"count":2,"href":"https:\/\/eightmaison.com\/staging\/senijaya\/wp-json\/wp\/v2\/posts\/3364\/revisions"}],"predecessor-version":[{"id":3382,"href":"https:\/\/eightmaison.com\/staging\/senijaya\/wp-json\/wp\/v2\/posts\/3364\/revisions\/3382"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eightmaison.com\/staging\/senijaya\/wp-json\/wp\/v2\/media\/3380"}],"wp:attachment":[{"href":"https:\/\/eightmaison.com\/staging\/senijaya\/wp-json\/wp\/v2\/media?parent=3364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eightmaison.com\/staging\/senijaya\/wp-json\/wp\/v2\/categories?post=3364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eightmaison.com\/staging\/senijaya\/wp-json\/wp\/v2\/tags?post=3364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}