| Date Announced |
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20/04/2007 |
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| Type | : | Announcement |
| Subject | : | BONIA CORPORATION BERHAD (“Bonia”) ADJUSTMENTS TO THE EXERCISE PRICE AND NUMBER OF WARRANTS 2005/2008 (“Warrants”) ISSUED IN ACCORDANCE WITH THE PROVISIONS OF THE DEED POLL DATED 8 MARCH 2005 (“Deed Poll”) AND SUPPLEMENTAL DEED POLL DATED 4 APRIL 2007 (“Supplemental Deed Poll”), PURSUANT TO THE BONUS ISSUE OF 31,212,067 NEW ORDINARY SHARES OR RM1.00 EACH IN BONIA (“Bonus Shares”) TO BE CREDITED AS FULLY PAID-UP ON THE BASIS OF ONE (1) BONUS SHARE FOR EVERY TWO (2) EXISTING ORDINARY SHARES OF RM1.00 EACH HELD IN BONIA (“Bonia Shares”) (“Bonus Issue”) AND SHARE SPLIT INTO TWO (2) NEW ORDINARY SHARES OF RM0.50 EACH IN BONIA (“Subdivided Shares”) FOR EVERY ONE (1) BONIA SHARE AFTER THE BONUS ISSUE (“Share Split”) |
Contents :
On 4 April 2007, Hwang-DBS Investment Bank Berhad (formerly known as Hwang-DBS Securities Berhad), on behalf of Bonia, announced that Warrantholders whose names appear in the Record of Depositors for Warrantholders as at the close of business at 5.00 p.m. on 20 April 2007 (“Entitlement Date”) are entitled to the adjustments.
In accordance with Condition 3(d) of the Second Schedule to the Deed Poll (as amended by the Supplemental Deed Poll) read with Paragraph 1(B) of the Third Schedule to the Deed Poll (as amended by the Supplemental Deed Poll), the Exercise Price will be maintained at RM1.00 pursuant to the Bonus Issue, which is equivalent to the par value of Bonia Shares, as the Exercise Price cannot be lower than the par value of Bonia Shares. In accordance with Paragraph 1(A) of the Third Schedule to the Deed Poll (as amended by the Supplemental Deed Poll), the Exercise Price will be revised to RM0.50 pursuant to the Share Split after the Bonus Issue. The adjustments to the Exercise Price of the Warrants for the Bonus Issue will take effect from 9.00 a.m. on 21 April 2007, being the day following the Entitlement Date, in accordance with Paragraph 1(B) of the Third Schedule to the Deed Poll (as amended by the Supplemental Deed Poll) and the adjustment to the Exercise Price of the Warrants after the Share Split in accordance with Paragraph 1(A) of the Third Schedule to the Deed Poll (as amended by the Supplemental Deed Poll) will take effect from 9.00 a.m. on 23 April 2007, being the day when the Subdivided Shares are traded on Bursa Malaysia Securities Berhad.
The additional number of Warrants, which will be listed and quoted on 23 April 2007, is 9,620,729.
The Notice to Warrantholders containing details of the adjustments will be despatched to the Warrantholders on 23 April 2007.
This announcement is dated 20 April 2007.
