Published: Friday June 22, 2012 MYT 7:23:00 PM
DBE Gurney calls off private placement plan
KUALA LUMPUR: DBE Gurney Resources Bhd has cancelled its proposal to place up to 10% of its paid-up share capital.
It said on Friday it decided not to go ahead "as the potential placees for the proposed private placement have withdrawn their interest due to uncertain market condition".
To recap, on March 2, DBE Gurney announced it had proposed to place out 10% of its paid-up, or up to 67.33 million shares.
Based on the assumption the placement shares were issued at an indicative issue price of 10 sen per share, which was based on the par value of the shares, the exercise would raise gross proceeds of up to RM6.73mil.