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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 RM0.05 for each Rights Share is payable
in cash on application and the second call of RM0.05 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”).
On behalf of
the Board of Directors of asiaEP, RHB Investment Bank Berhad wish to
announce that the Company proposes to undertake the Proposals.
Please refer to the attached file for the details of the Proposals.
This announcement is dated 27 March
2009. | |