SEE: UOB Kay Hian cites BRC Asia, Food Empire, Frencken and InnoTek as small-mid cap picks
Assuming all the placement shares are placed out, shares in BRC Asia will increase from 233.3 million shares to 243.3 million shares. Both figures exclude the 1.63 million treasury shares. The placement shares represent about 4.11% of the enlarged issued share capital. The placement shares will not be given to anyone who is a director or substantial shareholder of the company, and will not result in a transfer of controlling interest of the company. The placement shares will be allotted and issued through a general mandate at BRC Asia’s annual general meeting held on Jan 30. The completion of the placement will take place at 7.30am three business days after the receipt of the approval-in-principle from SGX-ST, or no later than Feb 26.