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(i) Proposed renounceable
two-call rights issue of up to 293,037,675 new ordinary shares of
RM0.10
each in asiaEP (“Rights Shares”) on the basis of 1 Rights
Share for each existing ordinary share of
RM0.10 each in asiaEP
(“asiaEP Shares”) held on an entitlement date to be determined
later,
together with:
- bonus issue of up to 293,037,675
new asiaEP Shares (“Bonus Shares”) on the basis of 1
Bonus Share
for each Rights Share subscribed; and
- issuance of up to
293,037,675 new free detachable warrants (“Warrants”) on the basis
of 1
Warrant for each Rights Share subscribed,
with the
Rights Share at an indicative issue price of RM0.10 each, of which
the indicative first
call of RM0.06 for each Rights Share is
payable in cash on application and the second call of
RM0.04 for
each Rights Share is to be capitalised from asiaEP’s share premium
account (“Proposed
Rights Issue”);
(ii) Proposed increase
in authorised share capital of asiaEP from RM50,000,000 comprising
500,000,000
asiaEP Shares to RM150,000,000 comprising
1,500,000,000 asiaEP Shares (“Proposed Increase in
Authorised
Share Capital”); and
(iii) Proposed amendments to the
Memorandum and Articles of Association of asiaEP (“Proposed
Amendments”)
(hereinafter collectively referred to as the
“Proposals”).
Further to the announcements dated 27 March
2009 and 4 June 2009, RHB Investment Bank Berhad, on behalf of the
Board of Directors of asiaEP, wish to announce that the Company had
on today submitted an application to the Bank Negara Malaysia
(Controller of Foreign Exchange) (“Controller”) in order to obtain
the prior permission of the Controller for the issuance of Warrants
to non-resident shareholders pursuant to the Proposed Rights Issue
and consequential warrants to be issued to non-resident shareholders
in respect of asiaEP’s existing warrants 2006/2011 as a result of
the Proposed Rights Issue. The Company had also, on even date,
submitted an application to the Securities Commission for their
approval of the Proposed Rights Issue.
This announcement is
dated 5 June 2009. | |