Hi there! Can anyone please explain the following announcement to me?
" 9261 GADANG GADANG HOLDINGS BHD
GADANG - NOTICE OF RIGHTS ENTITLEMENT
LISTING'S CIRCULAR NO. L/Q : 58170 OF 2010
RENOUNCEABLE TWO-CALL RIGHTS ISSUE OF UP TO 78,677,194 NEW ORDINARY SHARES OF
RM1.00 EACH (SHARES) IN GADANG (RIGHTS SHARES) ON THE BASIS OF TWO (2)
RIGHTS SHARES FOR EVERY THREE (3) EXISTING SHARES IN GADANG (GADANG SHARES)
TOGETHER WITH UP TO 19,669,299 FREE DETACHABLE WARRANTS (WARRANTS) ON THE
BASIS OF ONE (1) WARRANT FOR EVERY FOUR (4) RIGHTS SHARES HELD IN GADANG AT AN
ISSUE PRICE OF RM1.00 PER RIGHTS SHARE, OF WHICH THE FIRST CALL OF RM0.65 IS
PAYABLE IN CASH ON APPLICATION AND THE SECOND CALL OF RM0.35 IS TO BE
CAPITALISED FROM GADANGS SHARE PREMIUM AND RETAINED PROFITS ACCOUNTS (RIGHTS
ISSUE).
Kindly be advised of the following :
1) The Rights commence of trading : [ 7 September 2010 ]
2) The Date of Despatch of the Prospectus and Provisional Allotment Letter of
Offer :
[ 8 September 2010 ]
3) The last day and time for Acceptance, Renunciation and Payment :
[ 23 September 2010 @ 5:00pm ]
4) The Rights cease quotation : [ 15 September 2010 ]
The Stock Short Name, Number and ISIN Code [ GADANG-OR, 9261OR and MYL9261OR001] respectively"
Your help is much appreciated. Thank you.
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