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VCI Global Limited's $3M Direct Offering Report: Key Insights & Compliance Details

$VCIG
Form 6-K
Filed on: 2025-01-08
Source
VCI Global Limited's $3M Direct Offering Report: Key Insights & Compliance Details

Here are the key insights extracted from the financial report of VCI Global Limited as presented in the Form 6-K:

  1. Company Overview:
  • Name: VCI Global Limited
  • Commission File Number: 001-41678
  • Address: B03-C-8 Menara 3A, KL Eco City, No.3 Jalan Bangsar, 59200 Kuala Lumpur, Malaysia.
  1. Securities Offering:
  • Date of Agreement: January 8, 2025.
  • Type of Offering: Registered direct offering.
  • Number of Shares: The company agreed to issue and sell an aggregate of 1,500,000 ordinary shares.
  • Price per Share: $2.00 per share.
  • Gross Proceeds Expected: $3,000,000 before deducting offering expenses.
  • Purpose of Proceeds: The proceeds will be used for working capital and general corporate purposes.
  1. Conditions of Offering:
  • The offering was made directly to three accredited investors without a placement agent or underwriter.
  • The offering is made under the existing shelf registration statement on Form F-3, which was declared effective on May 28, 2024.
  1. Legal and Compliance:
  • A legal opinion regarding the issuance and sale of the shares has been provided by Carey Olsen (BVI) L.P. and is included as Exhibit 5.1.
  • The report clarifies that it does not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction where such offers would be unlawful.
  1. Exhibits:
  • The report includes various exhibits related to the securities purchase agreements and legal opinions, detailing the terms and conditions of the agreements.
  1. Signatory:
  • The report is signed by Victor Hoo, who holds the position of Chairman and Chief Executive Officer of the company.

This summary highlights the essential elements of the securities offering by VCI Global Limited, including the terms, expected proceeds, and regulatory compliance, which are crucial for investors and stakeholders analyzing the company's financial activities.