Profile for Warrants
| LUSTER INDUSTRIES BHD. |
|
Instrument Type | Warrants |
| Description | Free detachable warrants (“Warrants”) issued pursuant to: (i) Settlement of the debts owing to the financial institution creditors amounting to RM64,415,874 via the issuance of RM17,904,371 nominal value of redeemable convertible secured loan stocks of RM0.10 each, 25,400,000 new ordinary shares of RM0.10 each in Luster Industries Bhd ("LIB" or the "Company") ("LIB Shares") at an issue price of RM0.10 per share and 263,829,010 new LIB Shares at an issue price of RM0.10 per share together with 131,914,505 free Warrants on the basis of one (1) free Warrant for every two (2) new LIB Shares ("Debt Settlement"); (ii) Renounceable rights issue of 34,961,715 new LIB Shares (“Rights Shares”) together with 69,923,430 free Warrants at an issue price of RM0.10 per Rights Share on the basis of one (1) Rights Share together with two (2) free Warrants for every seven (7) existing ordinary shares of RM0.10 each held in LIB as at 5.00 p.m. on 15 May 2012 ("Rights Issue"); and (iii) Placement of 39,878,285 new LIB Shares ("Placement Shares") together with 79,756,570 free Warrants at an issue price of RM0.10 per Placement Share on the basis of two (2) free Warrants for every one (1) Placement Share ("Placement"); and (iv) Issuance of 160,000,000 new LIB Shares together with 160,000,000 free Warrants at the issue price of RM0.10 per share to satisfy the total consideration of RM16,000,000 pursuant to the acquisition of machinery and equipment and payment for construction costs to extend the existing factory premise of LIB Group ("New Share Issuance") |
| Listing Date | 12/06/2012 |
| Issue Date | 05/06/2012 |
| Issue/ Ask Price | Not Applicable |
| Issue Size Indicator | Unit |
| Issue Size in Unit | 441,594,505 |
| Maturity Date | 03/06/2022 |
| Revised Maturity Date | |
| Exercise/ Conversion Period | 10.00Year(s) |
| Revised Exercise/ Conversion Period |  |
| Exercise/Strike/Conversion Price | MYR 0.1000 |
| Revised Exercise/Strike/Conversion Price | |
| Exercise/ Conversion Ratio | 1 Warrant : 1 LIB Share |
| Revised Exercise/ Conversion Ratio | |
| Mode of satisfaction of Exercise/ Conversion price | Cash |
| Settlement Type/ Convertible into | Physical (Shares) |
| Remarks : |
| The Warrants are issued free pursuant to the Debt Settlement, Rights Issue, Placement and New Share Issuance, on the basis stated above. Each Warrant entitles the holder to subscribe for one (1) new LIB Share at the exercise price of RM0.10 at any time during the exercise period, commencing on and including the date of issue of the Warrants until the last market day prior to the 10th anniversary of the date of issue of the Warrants ("Exercise Period"), subject to adjustments in accordance with the provisions of the deed poll dated 23 April 2012 constituting the Warrants. Warrants not exercised during the Exercise Period will thereafter lapse and cease to be valid. This announcement is dated 11 June 2012. |
Announcement Info
| Company Name | LUSTER INDUSTRIES BHD. |
| Stock Name | LUSTER-WA |
| Date Announced | 11 Jun 2012 |
| Category | Listing Information & Profile |
| Reference No | ML-120608-61688 |