News
Advance Synergy Berhad ("ASB" Or "The Company") - Proposed Restructuring Involving The Bank Borrowings In Us Dollars, Australian Dollars And Ringgit Malaysia Of ASB And Five (5) Of Its Subsidiaries By Way Of An Issue Of Redeemable Loan Stocks And Convertible Loan Stocks With Detachable Warrants ("Warrants"); And - Proposed Renounceable Restricted Offer For Sale Of The Rights To Allotment Of Up To A Maximum Of Approximately 168.897 Million Warrants After The Proposed Restructuring Of Bank Borrowings By The Lenders To The Entitled Stockholders Of ASB (Collectively Referred To As "The Proposals")
BackMar 28, 2000
| General Announcement Reference No MM-000328-63566 |
| Submitting Merchant Bank | : | PERDANA MERCHANT BANKERS BERHAD |
| Company Name | : | ADVANCE SYNERGY BERHAD |
| Stock Name | : | ASB |
| Date Announced | : | 28/03/2000 |
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| Type | : | Announcement |
| Subject | : | ADVANCE SYNERGY BERHAD ("ASB" or "the Company") - Proposed Restructuring Involving The Bank Borrowings in US Dollars, Australian Dollars And Ringgit Malaysia Of ASB And Five (5) Of Its Subsidiaries By Way Of An Issue Of Redeemable Loan Stocks And Convertible Loan Stocks With Detachable Warrants ("Warrants"); And - Proposed Renounceable Restricted Offer For Sale Of The Rights To Allotment Of Up To A Maximum Of Approximately 168.897 Million Warrants After The Proposed Restructuring Of Bank Borrowings By The Lenders To The Entitled Stockholders Of ASB (collectively referred to as "the Proposals") |
Contents :
On 5 January 2000, it was announced that the Company had obtained approval from the Securities Commission ("SC") in respect of the Proposals, subject to certain conditions.
Subsequent to that announcement, Perdana Merchant Bankers Berhad ("Perdana Bankers") had, on behalf of ASB, made an application to the SC to appeal against SC's condition on the appointment of an Independent Adviser.
On behalf of ASB, Perdana Bankers is pleased to announced that it has on 27 March 2000 received a letter from the SC dated 21 March 2000 approving ASB's appeal on the appointment of an Independent Adviser.