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Profile For Loan Stocks
BackJan 29, 2008
| Instruments Profile |
| Reference No MM-080129-72645 |
| Submitting Merchant Bank |
: |
CIMB INVESTMENT BANK BERHAD |
| Company Name |
: |
ADVANCE SYNERGY BERHAD |
| Stock Name |
: |
ASB |
| Date Announced |
: |
29/01/2008 |
| Remarks : |
| The 2% 10-year irredeemable convertible unsecured loan stocks ("ICULS") may be converted into new ordinary shares of RM0.30 each in Advance Synergy Berhad ("ASB Shares") by: (i) surrendering for cancellation the ICULS with an aggregate nominal value equivalent to RM0.30 for every one (1) new ASB Share (subject to adjustments in accordance with the provisions of the Trust Deed dated 10 December 2007 constituting the ICULS) ("Conversion Price"); or (ii) surrendering one (1) ICULS together with the necessary cash payment constituting the difference between the Conversion Price and the nominal value of the ICULS surrendered, for one (1) ASB Share. For avoidance of doubt, for every one (1) ICULS surrendered together with the required cash payment, the holder will only be entitled to subscribe for one (1) new ASB Share. Any fractional ASB Shares arising from the conversion of the ICULS will be disregarded. All outstanding ICULS will be compulsorily converted into new ASB Shares at the Conversion Price in the following events: (i) on the Maturity Date^ or if this is not a day on which Bursa Malaysia Securities Berhad is open for trading in securities ("Market Day"), the Market Day immediately preceding this date; or (ii) at any time during the tenure of the ICULS where the aggregate nominal value of all outstanding ICULS is not more than RM17,734,165, being ten percentum (10%) of the Issue Size of the ICULS. ^The Maturity Date has been determined to be 26 January 2018 in view that both 27 and 28 January 2018 do not fall on a weekday. This announcement is dated 29 January 2008. |