I have 3 lots of pantech, worth to subscribe?? I don't think so.
I have 3 lots, so will be given 6 ICULS, still lack of 4 ICULS to entitle for 1 pantech warrant.
Kanasai.
I have 3 lots, so will be given 6 ICULS, still lack of 4 ICULS to entitle for 1 pantech warrant.
Kanasai.
Currently is traded at 2 cents. But they want to sell you at 10 cents, kanasai, Buy at the market better.
We believe the exercise will offer shareholders positive investment returns over the next few years, underpinned by the company’s expansion plans and earnings growth prospects.
The bonus issue is on the basis of 1-for-5 shares. Shareholders will also be given the rights to buy two ICULS for every Pantech share held (before the bonus issue) priced at 10 sen per ICULS. The loan stock carries a 7% coupon rate with a conversion ratio of six to one, exercisable at anytime within a seven-year period.
As a sweetener, investors will be offered one free warrant for every 10 ICULS subscribed. The warrants have a maturity of 10 years and the exercise price is fixed at 60 sen. Post-bonus issue, Pantech’s shares will be adjusted to 79 sen based on its current price of 95 sen. This implies that the warrants will already be in-the-money upon completion of the exercise.
LISTING'S CIRCULAR NO. L/Q : 59170 OF 2010
Renounceable rights issue of up to RM77,213,675 nominal value of 7-year 7%
irredeemable convertible unsecured loan stocks (ICULS) at 100% of its nominal
value on the basis of two (2) RM0.10 nominal value of ICULS for every one (1)
existing ordinary share of RM0.20 each held in Pantech Group Holdings Berhad
("Pantech") as at 5.00 P.M. on 26 November 2010 together with up to 77,213,675
free detachable warrants (Warrants) on the basis of one (1) Warrant for every
ten (10) ICULS subscribed for.
Kindly be advised of the following :
1) The Rights commence of trading : [ 29 November 2010 ]
2) The Date of Despatch of the Prospectus and Provisional Allotment Letter of
Offer :
[ 30 November 2010 ]
3) The last day and time for Acceptance, Renunciation and Payment :
[ 14 December 2010 @ 5:00pm ]
4) The Rights cease quotation : [ 6 December 2010 ]
The Stock Short Name, Number and ISIN Code [ PANTECH-LR,5125LR and MYL5125LR008
] respectively
MANAGER, SEC. MARKET
2 comments
Hi ck5354,
i have 5 lots of pantech too..do you think i shud subscribe since it comes together with a free warrant?
I have no idea what is the pantech LR is..wondering what to do
LR is the "form" to entitle to buy ICULS.
If you have 5 lots, you entitle to buy 10 ICULS by paying RM1000 (RM 100 1 ICULS).
Then they give you 1 free warrants.
If you need more clarification, email me.