HG Metal Manufacturing Announces Rights Issue: Key Details for Shareholders
HG Metal Manufacturing Announces Rights Issue: Key Details for Shareholders
HG Metal Manufacturing Limited has announced a proposed renounceable non-underwritten rights issue, aiming to issue up to 74,254,237 new ordinary shares priced at S\$0.266 each. The issue is structured on a basis of ten new shares for every 27 existing shares held by shareholders as of the record date, set for 21 November 2024.
Important Dates and Details
Shareholders should note that the company’s Register of Members and Share Transfer Books will be closed at 5.00 p.m. on the Record Date to determine the eligibility for the provisional allotments of rights shares. The shares will trade on a “cum-rights” basis until 5.00 p.m. on 19 November 2024, and on an “ex-rights” basis from 9.00 a.m. on 20 November 2024. This means that buyers purchasing shares on or after 20 November will not be entitled to the rights issue.
Eligibility to Participate
Entitled Shareholders, comprising Entitled Depositors and Entitled Scripholders, will be eligible to participate. Entitled Depositors are those with shares credited to their securities accounts with CDP and registered addresses in Singapore as of the Record Date. Entitled Scripholders are those whose share certificates are not deposited with CDP but are registered in their names with addresses in Singapore.
Impact on Shareholders
Foreign Shareholders, who have not provided a Singapore address for notices and documents, will not be able to participate in the rights issue. The rights shares will not be offered to these shareholders, nor will any provisional allotments be made to them. This may affect the share value as only a portion of shareholders can participate, potentially impacting demand and supply dynamics.
Further Information
Details on the Rights Issue will be provided in the Offer Information Statement. Shareholders should expect further updates from the company regarding any material developments. The company emphasizes that participating in the rights issue should be based on information from official documents lodged with the Monetary Authority of Singapore.
Disclaimer: This article is for informational purposes only and does not constitute an offer or solicitation to buy or sell any securities. Investors should consult their financial advisors before making any investment decisions.
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