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发表于 30-7-2009 08:33 AM
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| Proposed renounceable two-call rights issue | | asiaEP Berhad ("asiaEP" or "Company")
Proposed renounceable two-call rights issue of up to 293,037,675 new ordinary
shares of RM0.10 each in asiaEP (Rights Shares) on the basis of one (1) Rights
Share for each existing ordinary share of RM0.10 each in asiaEP (asiaEP Share)
held on an entitlement date to be determined, together with:
-bonus issue of up to 293,037,675 new asiaEP Shares (Bonus Shares) on the basis
of one (1) Bonus Share for each Rights Share subscribed; and
-issuance of up to 293,037,675 new free detachable warrants (Warrants) on the
basis of one (1) Warrant for each Rights Share subscribed,
with the Rights Share at an issue price of RM0.10 each, of which the first call
of RM0.06 is payable in cash on application and the second call of RM0.04 is to
be capitalised from asiaEPs share premium account (Proposed Rights Issue).
We refer to a series of past announcements made in relation to the Proposed
Rights Issue. All abbreviations used herein shall have the same meaning as
those used in the abovementioned announcements unless stated otherwise.
On behalf of the Board, RHB Investment Bank wishes to announce that Bursa
Securities had, vide its letter dated 29 July 2009, granted its
approval-in-principle for the following:
(i) admission to the Official List and the listing and quotation of up to
293,037,675 Warrants to be issued pursuant to the Rights Issue;
(ii) listing of up to 293,037,675 Rights Shares;
(iii) listing of up to 293,037,675 new asiaEP Shares to be issued pursuant to
the exercise of Warrants;
(iv) listing of up to 46,883,154 Additional Warrants 2006/2011 to be issued
pursuant to the adjustments to the Warrants 2006/2011 as a consequence of the
Rights Issue; and
(v) listing of up to 46,883,154 new asiaEP Shares to be issued pursuant to the
exercise of Additional Warrants 2006/2011.
Bursa Securities has also approved the listing and quotation of up to
293,037,675 Bonus Shares.
In view that the Bonus Shares, Rights Shares, Additional Warrants 2006/2011 and
Warrants are issued pursuant to the Rights Issue, the Bonus Shares, Rights
Shares, Additional Warrants 2006/2011 and Warrants must be listed
simultaneously.
The Company and RHB Investment Bank are required to comply with the following:
(i) make an announcement pursuant to Rule 6.30(2)(a) & (b), 6.30(4) and
6.52A(3) of the Listing Requirements for the MESDAQ Market of Bursa Securities;
and
(ii) inform Bursa Malaysia Depository Sdn Bhd (Bursa Depository) on the actual
number of Bonus Shares and Additional Warrants 2006/2011 to be issued and the
latest issued and paid-up share capital of the Company (after the Bonus Shares)
when submitting the allotment information to Bursa Depository for the crediting
of the new Bonus Shares and Additional Warrants 2006/2011.
Following the receipt of the approval-in-principle from Bursa Securities, all
approvals required for the Proposed Rights Issue have been obtained.
Accordingly, on behalf the Board, RHB Investment Bank wishes to announce that:
(i) the issue price for the Rights Shares has been fixed at RM0.10 per Rights
Share, of which the first call of RM0.06 shall be payable by cash upon
application with the second call of RM0.04 to be capitalised from asiaEPs share
premium account; and
(ii) the exercise price for the Warrants has been fixed at RM0.10 per Warrant
for each new asiaEP Share.
The issue price of RM0.10 per Rights Share, the cash call of RM0.06 per Rights
Share and the exercise price of RM0.10 was determined by the Board after taking
into consideration, amongst others, the TEAP of asiaEP Shares of RM0.0703
calculated based on the 5-day VWAP of asiaEP Shares up to and including 28 July
2009 of RM0.1509.
The cash call of RM0.06 per Rights Share represents a discount of approximately
14.65% over the TEAP. On the other hand, the exercise price of the Warrants of
RM0.10 per Warrant represents a premium of approximately 42.25% over the TEAP.
In addition, on behalf of the Board, RHB Investment Bank also wishes to
announce that the deed poll constituting the Warrants has been executed today.
This announcement is dated 29 July 2009. |
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