News
Advance Synergy Berhad ("ASB") Proposed Early Redemption Of Redeemable Loan Stocks ("RLS") And Repurchase Of Convertible Loan Stocks ("CLS")
BackApr 01, 2004
| General Announcement Reference No AS-050401-61806 |
| Company Name | : | ADVANCE SYNERGY BERHAD |
| Stock Name | : | ASB |
| Date Announced | : | 01/04/2005 |
 |
|
|
| Type | : | Announcement |
| Subject | : | ADVANCE SYNERGY BERHAD ("ASB") Proposed early redemption of Redeemable Loan Stocks ("RLS") and repurchase of Convertible Loan Stocks ("CLS") |
Contents :
The Board of Directors of ASB wishes to inform the Exchange that ASB is in the midst of negotiation with the respective loan stock holders to finalise the terms and conditions for ASB to undertake the proposed early redemption of RM74,978,552 equivalent nominal value of RLS and repurchase of RM182,761,429 equivalent nominal value of CLS, being the balance of the respective loan stocks in issue, by 30 April 2005 ("Proposed Settlement"). The said RLS and CLS are neither listed nor transferable.
With the Proposed Settlement, the aforesaid RLS and CLS would be cancelled.
The Proposed Settlement would be funded by borrowings and internal resources.
The Board, after careful deliberation, is of the opinion that the Proposed Settlement is fair and reasonable to ASB and is not to the detriment of ASB and its stockholders.
[This announcement is dated 1 April 2005]