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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 one (1)
Rights Share for each existing ordinary share of RM0.10 each in
asiaEP (“asiaEP Share”) held on an entitlement date to be
determined, together with:
-bonus issue of up to 293,037,675
new asiaEP Shares (“Bonus Shares”) on the basis of one (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 one (1) Warrant for each Rights Share
subscribed,
with the Rights Share at an issue price of RM0.10
each, of which the first call of RM0.06 is payable in cash on
application and the second call of RM0.04 is to be capitalised from
asiaEP’s share premium account (“Proposed Rights Issue”).
We
refer to a series of past announcements made in relation to the
Proposed Rights Issue. All abbreviations used herein shall have the
same meaning as those used in the abovementioned announcements
unless stated otherwise.
On behalf of the Board, RHB
Investment Bank wishes to announce that Bursa Securities had, vide
its letter dated 29 July 2009, granted its approval-in-principle for
the following:
(i) admission to the Official List and the
listing and quotation of up to 293,037,675 Warrants to be issued
pursuant to the Rights Issue;
(ii) listing of up to
293,037,675 Rights Shares;
(iii) listing of up to 293,037,675
new asiaEP Shares to be issued pursuant to the exercise of
Warrants;
(iv) listing of up to 46,883,154 Additional
Warrants 2006/2011 to be issued pursuant to the adjustments to the
Warrants 2006/2011 as a consequence of the Rights Issue;
and
(v) listing of up to 46,883,154 new asiaEP Shares to be
issued pursuant to the exercise of Additional Warrants
2006/2011.
Bursa Securities has also approved the listing and
quotation of up to 293,037,675 Bonus Shares.
In view that the
Bonus Shares, Rights Shares, Additional Warrants 2006/2011 and
Warrants are issued pursuant to the Rights Issue, the Bonus Shares,
Rights Shares, Additional Warrants 2006/2011 and Warrants must be
listed simultaneously.
The Company and RHB Investment Bank
are required to comply with the following:
(i) make an
announcement pursuant to Rule 6.30(2)(a) & (b), 6.30(4) and
6.52A(3) of the Listing Requirements for the MESDAQ Market of Bursa
Securities; and
(ii) inform Bursa Malaysia Depository Sdn
Bhd (“Bursa Depository”) on the actual number of Bonus Shares and
Additional Warrants 2006/2011 to be issued and the latest issued and
paid-up share capital of the Company (after the Bonus Shares) when
submitting the allotment information to Bursa Depository for the
crediting of the new Bonus Shares and Additional Warrants
2006/2011.
Following the receipt of the approval-in-principle
from Bursa Securities, all approvals required for the Proposed
Rights Issue have been obtained.
Accordingly, on behalf the
Board, RHB Investment Bank wishes to announce that:
(i) the
issue price for the Rights Shares has been fixed at RM0.10 per
Rights Share, of which the first call of RM0.06 shall be payable by
cash upon application with the second call of RM0.04 to be
capitalised from asiaEP’s share premium account; and
(ii)
the exercise price for the Warrants has been fixed at RM0.10 per
Warrant for each new asiaEP Share.
The issue price of RM0.10
per Rights Share, the cash call of RM0.06 per Rights Share and the
exercise price of RM0.10 was determined by the Board after taking
into consideration, amongst others, the TEAP of asiaEP Shares of
RM0.0703 calculated based on the 5-day VWAP of asiaEP Shares up to
and including 28 July 2009 of RM0.1509.
The cash call of
RM0.06 per Rights Share represents a discount of approximately
14.65% over the TEAP. On the other hand, the exercise price of the
Warrants of RM0.10 per Warrant represents a premium of approximately
42.25% over the TEAP.
In addition, on behalf of the Board,
RHB Investment Bank also wishes to announce that the deed poll
constituting the Warrants has been executed today.
This
announcement is dated 29 July 2009. | |