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Advance Synergy Berhad ("ASB" Or "the Company") Amendments to trust deed dated 10 December 2007 As Varied In the Supplemental Trust Deed Dated 4 August 2008 ("trust Deed") To Facilitate Adoption of Procedure 4.0 Under Practice Note 28 [Procedure For the Listing of Additional securities Of The Same Type And Class] Issued By Bursa Malaysia Securities Berhad ("PN 28")

BackJul 20, 2012
Type Announcement
Subject OTHERS
Description ADVANCE SYNERGY BERHAD (“ASB” or “the Company”)
AMENDMENTS TO TRUST DEED DATED 10 DECEMBER 2007 AS VARIED IN THE SUPPLEMENTAL TRUST DEED DATED 4 AUGUST 2008 (“TRUST DEED”) TO FACILITATE ADOPTION OF PROCEDURE 4.0 UNDER PRACTICE NOTE 28 [PROCEDURE FOR THE LISTING OF ADDITIONAL SECURITIES OF THE SAME TYPE AND CLASS] ISSUED BY BURSA MALAYSIA SECURITIES BERHAD (“PN 28”)

The Board of Directors of ASB wishes to announce that the Company had on 20 July 2012 executed the Second Supplemental Trust Deed with AmanahRaya Trustees Berhad (“the Trustee”), to give effect to the following amendments to the Trust Deed constituting the 2% 10-Year Irredeemable Convertible Unsecured Loan Stocks at 100% of the nominal value of RM0.15 each (“ICULS”) issued by ASB on 29 January 2008 pursuant to a rights issue of the Company:-

Proposed amendments to the Trust Deed

Clause No.

Existing clause

Amended clause

Clause 8.4(d) of Trust Deed

The Company shall make an application to Bursa Securities within eight (8) Market Days after receipt of the relevant Conversion Notice by the Company, (or such other period as may be prescribed by Bursa Securities) and use all reasonable endeavours to obtain approval from Bursa Securities in respect of all new Ordinary Shares issued as a result of the conversion of Loan Stock for the listing of and quotation for the Conversion Shares on the Main Board of Bursa Securities.

The Company shall within eight (8) Market Days after receipt of the relevant Conversion Notice by the Company, (or such other period as may be prescribed by Bursa Securities) use all reasonable endeavours to procure the listing of and quotation for the Conversion Shares on the Main Market of Bursa Securities.

Clause 2.4.4 of Schedule 3 of Trust Deed

The Company shall make an application to Bursa Securities within eight (8) Market Days after receipt of the relevant Conversion Notice by the Company, or such other period as may be prescribed by Bursa Securities and use all reasonable endeavours to obtain approval from Bursa Securities in respect of all new Ordinary Shares issued as a result of the conversion of Loan Stock for quotation and permission to deal on the Main Board of Bursa Securities.

The Company shall within eight (8) Market Days after receipt of the relevant Conversion Notice by the Company, or such other period as may be prescribed by Bursa Securities use all reasonable endeavours to procure the listing of and quotation for the new Ordinary Shares issued as a result of the conversion of Loan Stock on the Main Market of Bursa Securities.

Clause 8.4(d) of Trust Deed and Clause 2.4.4 of Schedule 3 of Trust Deed shall be replaced in its entirety by the respective amended clause as set out above.

The aforesaid amendments to the Trust Deed have been made with the consent of the Trustee pursuant to clause 25.3 of the Trust Deed to facilitate adoption of Procedure 4.0 under PN 28 [Procedure for the Listing of Additional Securities of the same type and class] issued by Bursa Malaysia Securities Berhad for new ordinary shares of ASB which are issued pursuant to the conversion of ICULS to be listed and quoted in a speedier manner (i.e. listing of shares on the next market day immediately after receipt of confirmation from Bursa Malaysia Depository Sdn Bhd that the new shares are ready for crediting into the securities accounts of the respective holders).

The attached Notice of ICULS holders will be advertised in The New Straits Times on 21 July 2012.

This announcement is dated 20 July 2012.

 

Announcement Info

Company Name ADVANCE SYNERGY BERHAD  
Stock Name ASB    
Date Announced 20 Jul 2012  
Category General Announcement
Reference No AS-120720-44837

Attachments

  1. ASB200712.pdf (Size: 129,224 bytes)