Please help me to interpret what this means as I have AZRB and now I'm also having the OR (due to I have held this share for quite some time). If I decide not to sell, does it mean I have to take out more money for conversion.
AZRB - NOTICE OF RIGHTS ENTITLEMENT
LISTING'S CIRCULAR NO. L/Q : 47875 OF 2007
RENOUNCEABLE two-call rights ISSUE OF UP TO 142,801,120 NEW ORDINARY SHARES OF RM0.50 EACH ("RIGHTS SHARES") IN AHMAD ZAKI RESOURCES BERHAD ("AZRB" OF THE "COMPANY") AT AN ISSUE PRICE OF RM0.50 PER RIGHTS SHARE (OF WHICH THE FIRST CALL OF RM0.35 IS PAYABLE IN CASH ON APPLICATION AND THE SECOND CALL OF RM0.15IS CAPITALISED FROM THE COMPANY'S SHARE PREMIUM ACCOUNT AND RETAINED PROFITS ACCOUNT) ON THE BASIS OF ONE (1) RIGHTS SHARE FOR EVERY ONE (1) EXISTING ORDINARY SHARE OF RM0.50 EACH HELD IN AZRB ("RIGHTS ISSUE").
Kindly be advised of the following :
1) The Rights commence of trading : [ 9 January 2008 ]
2) The Date of Despatch of the Prospectus and Provisional Allotment Letter of
[ 9 January 2008 ]
3) The last day and time for Acceptance, Renunciation and Payment :
[ 24 January 2008 @ 5:00pm ]
4) The Rights cease quotation : [ 17 January 2008 ]
It is very confusing esp terms like two-call rights issue and how is the structure like does it mean that the first 35 cents is payable then after some time I top up another 15 cents?
AZRB, Need assistance