澳洲幸运5是哪个国家的（www.eth0808.vip）:Careplus Group plans 20% private placement to raise up to RM49.85mil
KUALA LUMPUR: Careplus Group Bhd has proposed to undertake a private placement of up to 114.6 million new shares or 20 per cent of the total number of issued Careplus shares to raise up to RM49.85 million, which will mainly be used to fund expansion plans for rubber gloves production and working capital purposes.
In a filing with Bursa Malaysia today, the company said it had sought the approval from its shareholders for the general mandate pursuant to Sections 75 and 76 of the Companies Act 2016, which authorised the board to issue new Careplus shares amounting to 20 per cent of the total number of issued shares of the company.
The 20 per cent general mandate was sought in accordance with the COVID-19 pandemic relief measures for listed issuers announced by Bursa Malaysia.
The provisions under Paragraph 6.03(1) of the Main Market Listing Requirements of Bursa Securities limits the issuance of new securities under the general mandate to 10 per cent of the total number of issued shares of the company.
"For the gross proceeds, assuming that the placement is issued at an indicative issue price of 43.5 sen per placement share, the proposed private placement is expected to raise gross proceeds of up to RM49.85 million,” it said.,
On the utilisations of the proceeds, Careplus Group intends to utilise up to RM34.35 million of the proceeds raised to supplement its ongoing capital expenditure requirements and the group’s existing committed capital expenditure allocated for its wholly owned subsidiaries, Careglove Global Sdn Bhd and Rubbercare Protection Products Sdn Bhd.
"The group had, since the second half of 2021, commenced its expansion plans via the commissioning of new production lines, construction of a new warehousing facility as well as ancillary factory extension and structural works to support the expansion plans, in line with the increase in demand for rubber gloves as a result of the COVID-19 pandemic during that period,” it added.
The abovementioned expansion plans, which are in the final stages of completion, had an initial planned budget of approximately RM180 million, out of which approximately RM140 million has been fully settled and paid.
The group intends to channel approximately RM30 million of the proceeds for the partial settlement of the balance committed capital expenditure, which include for remaining construction cost for the new warehouse building on Careglove’s premises, construction works relating to the renovation and extension of Careglove’s and Rubbercare’s existing premises.
"We also plan to purchase four double former production lines with supporting equipment for the production of nitrile and latex gloves, as well as three latex rubber glove dipping machine,” it added. - Bernama
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