Setegap decides to cancel proposed cash calls

SETEGAP Bhd said it has decided to cancel its cash calls involving a two-call rights issue and a rights issue of non-redeemable convertible unsecured loan stocks (Iculs) due to the current stock market conditions. 

Setegap said in a statement that the board of directors “deliberated on the future capital requirements of the company vis-a-vis the current market conditions and financial circumstances and has decided to abort the proposals.”