Contact us
RENOUNCEABLE RIGHTS ISSUE OF UP TO 800,994,000 NEW IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES OF RM0.025 EACH IN CONNECT ("ICPS") ON THE BASIS OF 3 ICPS FOR EVERY 1 EXISTING ORDINARY SHARE OF RM0.10 EACH HELD IN CONNECT AT 5.00 P.M. ON 17 MAY 2016 AT AN ISSUE PRICE OF RM0.025 PER ICPS PAYABLE IN FULL UPON ACCEPTANCE TOGETHER WITH UP TO 53,399,600 FREE DETACHABLE WARRANTS ("WARRANT(S)-B") ON THE BASIS OF 1 FREE WARRANT-B FOR EVERY 15 ICPS SUBSCRIBED ("RIGHTS ISSUE OF ICPS")
A cumulative preference dividend rate per annum of 10.0 sen per 100 ICPS shall be payable out of post taxation profits.
The dividends, if any, shall be paid within 14 days from every anniversary of the Issue Date. No dividends shall be paid on the ordinary shares of the Company unless the dividends on the ICPS have first been paid.
The ICPS may be converted into new CONNECT Shares in the following manner: (i) By surrendering for cancellation the ICPS with an aggregate par value equivalent to the Conversion Price or (ii) By surrendering for cancellation such number of ICPS with an aggregate par value below the Conversion Price, subject to a minimum of 1 ICPS, and paying the difference between the par value of ICPS surrendered and the Conversion Price in cash, for every 1 new CONNECT Share. The ICPS will be listed together with the Warrants-B on 15 June 2016. This announcement is dated 14 June 2016.