News
Advance Synergy Berhad ("ASB" Or "The Company") - Express Provision In warrants Deed Poll For Extension of The Exercise Period Of ASB's Warrants 2000/2003
| General Announcement Reference No CU-010830-54720 |
| Submitting Merchant Bank | : | Not Applicable |
| Company Name | : | ADVANCE SYNERGY BERHAD |
| Stock Name | : | ASB |
| Date Announced | : | 30/08/2001 |
 |
|
|
| Type | : | Announcement |
| Subject | : | ADVANCE SYNERGY BERHAD ("ASB" or "the Company") - Express provision in Warrants Deed Poll for extension of the exercise period of ASB's Warrants 2000/2003 |
Contents :
We refer to the press release of the Securities Commission ("SC") dated 28 August 2001 in respect of the above matter.
As required by the SC, the Company wishes to announce that the Deed Poll constituting the 168,896,809 ASB's Warrants 2000/2003 ("ASB Warrants") which was duly executed by the Company and dated 28 April 2000 ("Warrants Deed Poll") contain the express provision for extension of the exercise period of ASB Warrants.
The details of the exercise price and existing exercise period of ASB Warrants, as well as an extract of the express provision in the Warrants Deed Poll that outlines the circumstances under which the exercise period of ASB Warrants could be extended are as follows :-
1. Exercise Price
RM1.00 for each new stock unit of RM1.00 in the capital of ASB payable in full upon the exercise of each ASB Warrant or such adjusted price under certain circumstances in accordance with the Warrants Deed Poll.
2. Existing Exercise Period
The ASB Warrants may be exercised at any time from 29 August 2000, being the date of issue of the ASB Warrants up to 28 August 2003 (the date being three (3) years from the date of issue of the ASB Warrants).
3. An extract of the express provision in the Warrants Deed Poll that outlines the circumstances under which the exercise period of ASB Warrants could be extended
Condition 10 - Extension of exercise period of Warrants
10.1 The subscription/exercise period of the Warrants may be extended subject to section 68(1) of the Companies Act 1965 and such requirements as may be imposed by the Securities Commission from time to time and subject to the consent of the Securities Commission, the Kuala Lumpur Stock Exchange, the Shareholders of the Company and the Warrantholders (by way of a Special Resolution). Such extension shall be effected by way of a deed poll executed by the Company and expressed to be supplemental hereto. Any of such supplemental deed poll shall be subject to the approval of the Kuala Lumpur Stock Exchange.
10.2 In the event that the Company wishes to extend the subscription/exercise period of the Warrants, it shall forthwith provide notice thereof (in accordance with Condition 13) to the Warrantholders and convene a meeting of the Warrantholders for the purpose of considering such request for an extension. The provision of Condition 7 shall be applicable with regards to any such meeting. The Company shall also comply with all relevant procedures for extension (issued by the Securities Commission from time to time).
10.3 A memorandum of every such supplemental deed shall be endorsed on this Deed Poll.
10.4 Notice of every such supplemental to this Deed Poll shall be given to the Warrantholders by way of advertisement in a daily newspaper circulating generally throughout Malaysia and by post to the registered address of each Warrantholder.
(This announcement is dated 30 August 2001)