News

Rights Issue

BackDec 10, 2007
Entitlements (Notice of Book Closure)
Reference No MM-071207-63908

Submitting Merchant Bank
:
 CIMB INVESTMENT BANK BERHAD 
Company Name
:
 ADVANCE SYNERGY BERHAD 
Stock Name
:
 ASB
Date Announced
:
 10/12/2007


EX-date
:
 21/12/2007
Entitlement date
:
 26/12/2007 
Entitlement time
:
 05:00:00 PM 
Entitlement subject
:
 Rights Issue
Entitlement description
:
Renounceable two (2)-call rights issue of up to RM266,012,475 nominal value of 2% 10-year irredeemable convertible unsecured loan stocks ("ICULS") at 100% of the nominal value of RM0.15 each (or equivalent of up to 1,773,416,498 ICULS), with the first cash call amount of RM0.07 per ICULS payable immediately upon acceptance/application and the second non-cash call amount of RM0.08 per ICULS payable out of the share premium account of Advance Synergy Berhad ("ASB" or "Company"), on the basis of RM0.525 nominal value of ICULS (or equivalent to 3.5 ICULS) for every one (1) ordinary share of RM1.00 each in ASB ("ASB Share") held ("Rights Issue")
Period of interest payment
:
 to  
Financial Year End
:
  
Share transfer book & register of members will be
:
 toclosed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone no
:
Sectrars Services Sdn Bhd
No. 28-1, Jalan Tun Sambanthan 3
Brickfields
50470 Kuala Lumpur
Telephone no.: 03 - 2274 6133
Payment date
:
  
a.
 Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers
:
 26/12/2007
b.
 Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
:
  
c.
 Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
:
Number of new shares/securities issued (units) (If applicable)
:
  
Entitlement indicator
:
 Ratio
Ratio
:
 3.5: 1
Rights Issues/Offer Price
:
 0.15

Remarks :
Although the issue price of each ICULS is RM0.15, the entitled shareholders and/or their renouncees shall only pay the first cash call amount of RM0.07 per ICULS as the second non-cash call amount of RM0.08 per ICULS will be paid out of the share premium account of the Company.

Warrant holders of ASB who intend to participate in the Rights Issue are advised to lodge their duly completed exercise forms for the warrants 2000/2008 in ASB ("ASB Warrants") together with the relevant subscription monies with the Company's Registrar (at the address stated above) not later than 5.00 p.m. on 12 December 2007. This is to allow sufficient time for the Company's Registrar to allot and issue new ASB Shares arising from the exercise of ASB Warrants so that such warrant holders would be registered in the Record of Depositors of ASB on or before the Entitlement Date for the Rights Issue.

Based on the provisions under the deed poll dated 28 April 2000 (as amended by a supplemental deed poll dated 24 July 2003) constituting the ASB Warrants ("Deed Poll"), the existing exercise price of the ASB Warrants of RM1.00 per ASB Share will be adjusted to RM0.71 per ASB Share with effect from 27 December 2007, being the next market day following the Entitlement Date for the Rights Issue. In accordance with the provisions of the Deed Poll, a notice to the warrant holders setting out, amongst others, such adjustment will be issued by the Company on or before 17 January 2008, being not later than twenty one (21) days after such adjustment takes effect.

The Abridged Prospectus accompanying the Notice of Provisional Allotment and Rights Subscription Form will be despatched to the entitled shareholders on 31 December 2007.

This announcement is dated 10 December 2007.