LYC Healthcare proposes non-public placement

KUALA LUMPUR: LYC Healthcare Bhd has proposed to undertake a personal placement of as much as 10% of the entire variety of its issued shares to 3rd social gathering buyers that may be recognized later at a problem worth to be decided later, Bernama reported.

In a submitting with Bursa Malaysia, the healthcare service supplier mentioned as at April 6, 2022, the entire issued share capital of LYC Healthcare was RM58.04mil, comprising 464.53 million shares, and accordingly, a complete of as much as 46.45 million new shares may be issued pursuant to the proposed non-public placement.

“The indicative concern worth of the position shares is assumed at RM0.2217 per placement share, which represents a reduction of roughly 9.99% to the five-day volume-weighted common worth of LYC Healthcare shares as much as and together with the newest practicable date of this announcement of RM0.2463 per LYC Healthcare share,” it mentioned.It mentioned based mostly on the indicative concern worth of RM0.2217 per placement share, the proposed non-public placement is anticipated to lift gross proceeds of as much as RM10.3mil.

The proceeds from the position are meant to be utilized by LYC Healthcare and its subsidiaries to partially or absolutely finance enterprise enlargement, working capital and bills in relation to the proposed non-public placement.“The proceeds will allow LYC Healthcare to retain an satisfactory money degree and suppleness in respect of monetary allocations for our operational necessities,” it mentioned.

and brief time period obligations and liabilities, which in flip might allow the group to hold out our day-to-day operations in an environment friendly and well timed method,” it mentioned.

It mentioned barring in any unexpected circumstances, it’s optimistic that the proposed non-public placement would possibly augur properly for the general enterprise and monetary prospect of the corporate transferring ahead.

It added that the proposed non-public placement, which is anticipated to be carried out within the second quarter of 2022, shouldn’t be anticipated to have any materials affect on LYC Healthcare’s estimated earnings for the total 12 months ending March 31, 2023.

UOB Kay Hian Securities (M) Sdn Bhd has been appointed because the adviser and placement agent for the proposed non-public placement. – Bernama


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