Submitting Merchant Bank

:

AMINVESTMENT BANK BERHAD
Company Name

:

YINSON HOLDINGS BERHAD
Stock Name

:

YINSON  
Date Announced

:

10/01/2012


Type

:

Announcement
Subject

:

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING

Description

:

YINSON HOLDINGS BERHAD ("YHB" OR "COMPANY")

RENOUNCEABLE TWO-CALL RIGHTS ISSUE OF 113,020,800 NEW ORDINARY SHARES OF RM1.00 EACH IN YHB ("RIGHTS SHARES") ON THE BASIS OF THREE (3) RIGHTS SHARES FOR EVERY TWO (2) EXISTING ORDINARY SHARES OF RM1.00 EACH HELD IN YHB ("YHB SHARES") , AT AN ISSUE PRICE OF RM1.00 PER RIGHTS SHARE OF WHICH THE FIRST CALL OF RM0.75 IS PAYABLE IN CASH ON APPLICATION AND THE SECOND CALL OF RM0.25 IS TO BE CAPITALISED FROM YHB'S SHARE PREMIUM AND RETAINED EARNINGS ACCOUNTS ("RIGHTS ISSUE")

Announcement Details/Table Section :

Reference is made to the Company's announcements dated 29 June 2011, 6 October 2011, 10 October 2011, 24 October 2011, 1 November 2011, 3 November 2011, 18 November 2011, 5 December 2011, 7 December 2011 and 30 December 2011 in relation to, inter alia, the Rights Issue.

On behalf of the Board of Directors of YHB ("Board"), AmInvestment Bank Berhad (a member of AmInvestment Bank Group) wishes to announce that the Board has resolved to fix the followings:-

(i) the first call price of RM0.75 per Rights Share shall be payable in full on application in cash; and

(ii) the second call of RM0.25 per Rights Share shall be capitalised from the Company's share premium and retained earnings accounts.

The subscribing entitled shareholders of YHB will not be required to make any further cash payment after the payment for the first call.

The issue price of RM1.00 per Rights Share and first call price of RM0.75 per Rights Share were determined by the Board after taking into consideration amongst others, the prevailing market condition and market price of YHB Shares as well as the adequacy of reserves for capitalisation, funding requirements of YHB and its subsidiaries, the theoretical ex-rights price ("TERP") of YHB Shares, the par value of YHB Shares and an appropriate discount to the TERP.

The first call price of RM0.75 per Rights Share represents a discount of 40.94% from the TERP of YHB Shares of RM1.27, based on the five (5)-day volume weighted average market price of YHB Shares of RM2.06 up to and including 9 January 2012, being the last trading day prior to this announcement.

The Board is of the view that a discount of more than 30% to the TERP will provide shareholders of YHB with an attractive opportunity to increase their participation in the Company.

This announcement is dated 10 January 2012.