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Mandarin Oriental Rights Issue: Terms, Dates, and Impact, Exams of Human Rights

Information about Mandarin Oriental's rights issue, including the reasons for the issue, the terms and conditions, the key dates, and the illustrative bonus factor calculation. The rights issue enables the Group to retire debt, reduce gearing, and finance future investments. The document also explains how the historic EPS and DPS are rebased to reflect the bonus factor and maintain comparability pre and post rights issue.

What you will learn

  • What is the purpose of Mandarin Oriental's rights issue?
  • What discount does the rights issue offer to existing shareholders?
  • How will the historic EPS and DPS be affected by the rights issue?

Typology: Exams

2021/2022

Uploaded on 09/27/2022

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RIGHTS ISSUE
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Download Mandarin Oriental Rights Issue: Terms, Dates, and Impact and more Exams Human Rights in PDF only on Docsity!

RIGHTS ISSUE

Rights Issue^ This presentation is for information purposes only and does not constitute or form part of anyoffer to issue or sell, or the solicitation of an offer to acquire, purchase or subscribe for, anysecurities in any jurisdiction and should not be relied upon in connection with any decision tosubscribe for or acquire any of the securities discussed in this presentation. In particular, thispresentation does not constitute or form part of any offer to issue or sell, or the solicitation ofan offer to acquire, purchase or subscribe for, any securities in any jurisdiction in which such anoffer or solicitation would be unlawful.The securities discussed in this presentation have not been and will not be registered under theUS Securities Act of 1933 (the “Securities Act”), and may not be offered or sold in or into theUnited States absent registration or an applicable exemption from the registration requirementsof the Securities Act.

•^ Gross funds to be raised

c.US$316m

•^ Closing price on 4 March

(1)^

US$1.

•^ Rights issue terms

1 for 4

•^ Current shares in issue

1,004m

•^ New shares to be issued

251m

•^ Subscription price

US$1.

•^ 24.1% discount to Theoretical Ex-Rights Price (TERP)

•^ 28.4% discount to closing price on 4 March 2015

(1)^ • TERP

US$1.

•^ Theoretical nil paid price

(1)^

US$0.

Summary of Rights Issue Terms (1)^ Note:^ Based on closing price at 4 March 2015 as quoted on SGX

Key Dates •^ 12 March -

Publication of Prospectus

•^ 30 March -

Latest date for trading Nil Paid Rights on Singapore Stock Exchange

•^ 2 April^

-^ Latest date for acceptance and payment for Entitled Depositors

•^ 2 April^

-^ Latest date for trading Nil Paid Rights on London Stock Exchange

•^ 7 April^

-^ Latest date for acceptance and payment for persons who are notDepositors

•^ 8 April^

-^ Announcement of results of rights issue and new shares admitted totrading