News
Advance Synergy Berhad ("ASB" Or "Company") - Capital Reduction; And - Rights Issue
BackJan 31, 2008
| General Announcement |
| Reference No MM-080131-51106 |
| Submitting Merchant Bank |
:
|
CIMB INVESTMENT BANK BERHAD |
| Company Name |
:
|
ADVANCE SYNERGY BERHAD |
| Stock Name |
:
|
ASB |
| Date Announced |
:
|
31/01/2008 |
 |
|
|
| Type | : | Announcement |
| Subject | : | ADVANCE SYNERGY BERHAD ("ASB" OR "COMPANY") - CAPITAL REDUCTION; AND - RIGHTS ISSUE |
Contents :
? CAPITAL REDUCTION WHICH COMPRISES:
- REDUCTION OF THE ISSUED AND PAID-UP SHARE CAPITAL OF ASB FROM RM337,793,619 COMPRISING 337,793,619 ORDINARY SHARES IN ASB ("ASB SHARES") OF RM1.00 EACH TO RM101,338,086 COMPRISING 337,793,619 ASB SHARES OF RM0.30 EACH, BY CANCELLING RM0.70 OF PAR VALUE FROM EVERY ASB SHARE OF RM1.00 EACH TO REDUCE THE ACCUMULATED LOSSES IN THE COMPANY; AND
- REDUCTION OF UP TO THE ENTIRE AMOUNT IN THE SHARE PREMIUM ACCOUNT OF ASB TO REDUCE THE ACCUMULATED LOSSES IN THE COMPANY; AND
- REDUCTION OF UP TO THE ENTIRE AMOUNT IN THE SHARE PREMIUM ACCOUNT OF ASB TO REDUCE THE ACCUMULATED LOSSES IN THE COMPANY; AND
? RENOUNCEABLE TWO (2)-CALL RIGHTS ISSUE OF RM177,341,650 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 1,182,277,666 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 ASB, ON THE BASIS OF RM0.525 NOMINAL VALUE OF ICULS (OR EQUIVALENT TO 3.5 ICULS) FOR EVERY ONE (1) ASB SHARE HELD AT 5.00 P.M. ON 26 DECEMBER 2007 ("RIGHTS ISSUE")
Reference is made to the announcements dated 20 February 2006, 22 June 2006, 19 September 2006, 22 February 2007, 5 April 2007, 18 April 2007, 29 June 2007, 30 August 2007, 5 December 2007, 10 December 2007, 21 January 2008 and 29 January 2008 in relation to the above.
On behalf of ASB, CIMB Investment Bank Berhad wishes to announce that following the admission of the ICULS to the Official List of Bursa Malaysia Securities Berhad ("Bursa Securities") and the listing of and quotation for the ICULS on the Main Board of Bursa Securities today, the Capital Reduction and Rights Issue have been completed.
This announcement is dated 31 January 2008.