Post Reply
1-3 of 3
There is no much activities in this counter eventhough the Rights is attractive."The issue price of S$0.05 of each Right Share represents a discount of approximately 86.0% from the volume weighted price of S$0.3567 per Share on the SGX-ST on 8 March 2007"," ... with one (1) free detachable warrant for every two (2) existing ordinary shares "
Any comments regarding this Rights?.
any idea?
Is this good?
Proposed Principal Terms of the Rights cum Warrants Issue
The Company is proposing to issue renounceable non-underwritten rights (?Rights Issue?) of up to 123,000,000 new ordinary shares in the capital of the Company (?Rights Shares?) at an issue price of S$0.05 for each Rights Share, with up to 61,500,000 free detachable warrants (?Warrants?), each warrant carrying the right to subscribe for one (1) new ordinary share (?New Share?) in the capital of the Company at an exercise price of S$0.03 for each New Share, on the basis of two (2) rights shares with one (1) free detachable warrant for every two (2) existing ordinary shares held by the Entitled Shareholders (as defined below) of the Company as at books closure date to be determined, fractional entitlements to be disregarded (?Rights cum Warrants Issue?).
The issue price of S$0.05 of each Right Share represents a discount of approximately 86.0% from the volume weighted price of S$0.3567 per Share on the SGX-ST on 8 March 2007, being the immediate
market day preceding the date of this announcement. The Rights cum Warrants Issue is proposed to be made on a renounceable basis to shareholders of the Company (?Shareholders?) whose registered addresses with the Company or The Central Depository (Pte) Limited (?CDP?), as the case may be, are in Singapore as at the Books Closure Date or who have, at least five (5) market days prior to the Books Closure Date, provided to the Company or CDP, as the
case may be, addresses in Singapore for the service of notices and documents (the ?Entitled Shareholders?).
Entitled Shareholders will be entitled to participate in the Rights cum Warrants Issue and receive the Offer Information Statement (as defined below) together with the appropriate application forms and
accompanying documents at their respective Singapore addresses.