Rights Issue
| GUNUNG CAPITAL BERHAD |
|
EX-date | 07/09/2010 |
| Entitlement date | 09/09/2010 |
| Entitlement time | 05:00:00 PM |
| Entitlement subject | Rights Issue |
| Entitlement description | Rights issue of up to 66,353,200 new ordinary shares of RM0.40 each (“Rights Shares”) on a renounceable basis of one (1) Rights Share for every one (1) existing ordinary share of RM0.40 each held after the Capital Reduction (as defined herein) together with up to 33,176,600 free detachable warrants (“New Warrants”) on the basis of one (1) New Warrant for every two (2) Rights Shares subscribed by the entitled shareholders of Gunung as at 5.00 p.m. on 9 September 2010, at an issue price of RM0.42 per Rights Share (“Rights Issue”) |
| Period of interest payment | to |
| Financial Year End | |
| Share transfer book & register of members will be | to closed from (both dates inclusive) for the purpose of determining the entitlements |
| Registrar's name ,address, telephone no | Insurban Corporate Services Sdn Bhd 149, Jalan Aminuddin Baki Taman Tun Dr. Ismail 60000 Kuala Lumpur Tel No.: 603-7729 5529 |
| Payment date | |
| a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers | 09/09/2010 |
| 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 | 1 : 1 |
| Rights Issues/Offer Price | 0.42 |
| Remarks : |
| Effects of the Capital Reduction on the Existing Warrants 2003/2013 The proposed capital reduction entails a reduction of the existing issued and paid-up share capital of Gunung via the cancellation of RM0.60 in the par value of each ordinary share of RM1.00 each in Gunung resulting in a new par value of RM0.40 for each ordinary shares in Gunung (“Capital Reduction”). Pursuant to the Capital Reduction, the exercise price of any unexercised Warrants 2003/2013 held by a warrantholder of Gunung as at 5.00 p.m. on the Entitlement Date shall be adjusted downwards from RM1.00 per share to RM0.40 per share (“Adjusted Exercise Price”), equivalent to the new par value of ordinary shares in Gunung after the Capital Reduction. The Adjusted Exercise Price of RM0.40 per share shall take effect on the market day following the Entitlement Date, as specified above. However, there will be no adjustment to the number of Warrants 2003/2013 consequent to the Capital Reduction. No action is required on the part of warrantholders in respect of the adjustment arising from the Capital Reduction. The relevant notice of adjustment in relation to the above adjustment shall be dispatched to the warrantholders in due course. An announcement on the effective date of the Capital Reduction will also be made in due course. Effects of the Rights Issue on the Existing Warrants 2003/2013 Pursuant to the Rights Issue, a warrantholder of Gunung will be entitled to an additional 54 Warrants 2003/2013, on an indicative basis, for every 100 existing Warrants 2003/2013 held by such warrantholder as at 5.00 p.m. on the Entitlement Date, as specified above (“Adjustments”). However, there will be no adjustment to the new exercise price of RM0.40 per share for Warrants 2003/2013 after the Capital Reduction. The relevant notice of adjustment in relation to the above adjustment shall be dispatched to the warrantholders in due course. The holders of the Warrants who exercise their rights to subscribe for the ordinary shares in Gunung by lodging their duly completed exercise forms for the Warrants together with the relevant subscription monies with the Company’s Share Registrar (at the address stated above) by 5.00 p.m. on the Entitlement Date, will be entitled to the Rights Shares. The holders of the Warrants who do not exercise their rights to subscribe for the ordinary shares in Gunung by 5.00 p.m. on the Entitlement Date and whose names appear in the Record of Depositors for Warrants of the Company by 5.00 p.m. on the Entitlement Date shall be entitled to the Adjustments. The Adjustments will only be finalised on the Entitlement Date and will be effective on the following market day thereafter. A notification to the Warrant holders setting out the Adjustments (including the basis of entitlement for the additional number of new Warrants to be issued) will be despatched by the Company within fifteen (15) market days after its finalisation. The abridged prospectus, together with the rights subscription form and the notice of provisional allotment (collectively referred to as the “Documents”) in relation to the Rights Issue, is expected to be despatched on 14 September 2010 to the entitled ordinary shareholders whose names appear in the Record of Depositors of Gunung on 9 September 2010. These Documents will not be despatched to entitled ordinary shareholders who have not provided an address in Malaysia. Any shareholder who is without a registered address in Malaysia and wishes to provide a Malaysian address should inform their respective stockbrokers to effect the change of address prior to 9 September 2010. This announcement is dated 25 August 2010. |
Announcement Info
| Company Name | GUNUNG CAPITAL BERHAD |
| Stock Name | GUNUNG |
| Date Announced | 25 Aug 2010 |
| Category | Entitlements (Notice of Book Closure) |
| Reference No | MM-100825-66534 |